8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_____________________________

FORM 8-K

_____________________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 29, 2022

_____________________________

BRISTOL-MYERS SQUIBB COMPANY

(Exact name of registrant as specified in its charter)

_____________________________

Delaware	001-01136	22-0790350
(State or other jurisdiction of<br>incorporation or organization)	(Commission File Number)	(I.R.S Employer<br>Identification No.)

430 E. 29th Street, 14th Floor

New York, NY, 10016

(Address of principal executive offices) (zip code)

Registrant’s telephone number, including area code: (212) 546-4200

_____________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.10 Par Value	BMY	New York Stock Exchange
1.000% Notes due 2025	BMY25	New York Stock Exchange
1.750% Notes due 2035	BMY35	New York Stock Exchange
Celgene Contingent Value Rights	CELG RT	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On April 29, 2022, Bristol-Myers Squibb Company (the “Company”) issued a press release (the “Earnings Press Release”) announcing its financial results for the first quarter of 2022. A copy of the Earnings Press Release is furnished pursuant to this Item 2.02 as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference herein in its entirety. Also furnished pursuant to this Item 2.02 as Exhibit 99.2 to this Current Report on Form 8-K and incorporated by reference herein in its entirety is certain supplemental information (the “Supplemental Information”) posted on the Company’s website at www.bms.com.

Item 7.01 Regulation FD Disclosure.

On April 29, 2022, the Company posted on its website at www.bms.com a presentation (the “Bristol Myers Presentation”) on certain financial and operating initiatives available for viewing during the Company’s conference call and webcast announcing its financial results for the first quarter of 2022 at 8:00 a.m. Eastern time on April 29, 2022. A copy of the Bristol Myers Presentation is furnished pursuant to this Item 7.01 as Exhibit 99.3 to this Current Report on Form 8-K and incorporated by reference herein in its entirety. The Bristol Myers Presentation includes references to non-GAAP financial information. Reconciliations between the non-GAAP financial measures and the comparable GAAP financial measures are available in the Supplemental Information, which is included as Exhibit 99.2 hereto, and the reasons for the presentation of such non-GAAP financial measures are available in the Earnings Press Release, which is included as Exhibit 99.1 hereto. The Bristol Myers Presentation should be read in conjunction with the Supplemental Information and the Earnings Press Release. The Company reserves the right to discontinue availability of the Bristol Myers Presentation from its website at any time.

Pursuant to General Instruction B.2. to Form 8-K, the information set forth in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.3, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities thereof, nor shall it be incorporated by reference into future filings by the Company under the Exchange Act or under the Securities Act of 1933, as amended, except to the extent specifically provided in any such filing. Additionally, the submission of the information set forth in this Item 7.01 is not deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely by Regulation FD.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

The following exhibits are furnished as part of this Current Report on Form 8-K:

Exhibit<br>No.	Description
99.1	Press release of Bristol-Myers Squibb Company dated April 29, 2022.
99.2	Certain supplemental information posted on Bristol-Myers Squibb Company’s website at www.bms.com not included in the press release.
99.3	Presentation Materials of Bristol-Myers Squibb Company dated April 29, 2022.
104	The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).

EXHIBIT INDEX

Exhibit<br>No.	Description
99.1	Press release of Bristol-Myers Squibb Company dated April 29, 2022
99.2	Certain supplemental information posted on Bristol-Myers Squibb Company’s website at www.bms.com not included in the press release.
99.3	Presentation Materials of Bristol-Myers Squibb Company dated April 29, 2022.
104	The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	BRISTOL-MYERS SQUIBB COMPANY
Dated: April 29, 2022	By:	/s/ Kimberly M. Jablonski
	Name:	Kimberly M. Jablonski
	Title:	Corporate Secretary

Document

Exhibit 99.1

Bristol Myers Squibb Reports First Quarter Financial Results for 2022

•Reports First Quarter Revenues of $11.6 Billion, an Increase of 5% YoY; or 7% When Adjusted for Foreign Exchange

•Posts First Quarter Earnings Per Share of $0.59 and Non-GAAP EPS of $1.96; Includes Net Impact of ($0.10) per share for GAAP and Non-GAAP EPS Due to Acquired IPRD1 Charges Partially Offset by Licensing Income

•Delivers Double-Digit Revenue Growth from In-Line Products and New Product Portfolio

•Advances New Product Portfolio with FDA Approvals for Two First-in-Class Medicines: Opdualag in Metastatic Melanoma and Camzyos for Symptomatic Obstructive Hypertrophic Cardiomyopathy

•Continues to Expand Opdivo with Multiple Regulatory Approvals, Including FDA Approval for Opdivo with Chemotherapy as Neoadjuvant Treatment for Certain Adult Patients with Resectable Non-Small Cell Lung Cancer

•Adjusts GAAP 2022 EPS Guidance; Non-GAAP EPS Guidance Adjusted to Reflect Net Impact of ($0.21) per Share Due to Acquired IPRD Charges Partially Offset by Licensing Income

(NEW YORK, April 29, 2022) – Bristol Myers Squibb (NYSE:BMY) today reports results for the first quarter of 2022, which reflect robust in-line product growth, increased adoption of new product portfolio and strong commercial execution.

“We continue to execute against our strategic priorities, deliver solid revenue and earnings growth and advance our product pipeline,” said Giovanni Caforio, M.D., board chair and chief executive officer, Bristol Myers Squibb. “Thanks to our team’s hard work and dedication, we achieved regulatory approvals of Opdualag and Camzyos, our new first-in-class medicines for

1 Acquired IPRD refers to certain in-process research and development ("Acquired IPRD") charges resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights.

patients living with metastatic melanoma and symptomatic obstructive hypertrophic cardiomyopathy, respectively. These milestone achievements, combined with our promising product pipeline and strong financial flexibility, provide a solid foundation that will enable us to deliver sustained growth and long-term benefits for our patients.”

amounts in millions, except per share amounts
	2021	Change
Total Revenues	$11,073	5	%
Earnings Per Share - GAAP*	0.89	(34)	%
Earnings Per Share - Non-GAAP*	1.74	13	%

All values are in US Dollars.

*    In the first quarter of 2022, GAAP and non-GAAP earnings per share include a net impact of ($0.10) per share due to Acquired IPRD charges that were partially offset by licensing income

FIRST QUARTER FINANCIAL RESULTS

All comparisons are made versus the same period in 2021 unless otherwise stated.

•Bristol Myers Squibb posted first quarter revenues of $11.6 billion, an increase of 5%, driven by in-line products (primarily Eliquis and Opdivo) and new product portfolio (primarily cell therapy products and Reblozyl), partially offset by Recent LOE Products (Revlimid and Abraxane) and foreign exchange impacts.

•U.S. revenues increased 10% to $7.7 billion in the quarter. International revenues decreased 3% to $4.0 billion in the quarter. When adjusted for foreign exchange impact, international revenues increased 3%, driven by in-line products (primarily Eliquis and Opdivo).

•Gross margin increased from 74.3% to 78.8% in the quarter primarily due to an impairment charge related to marketed product rights in the same period of last year and foreign exchange. On a non-GAAP basis, gross margin increased from 78.1% to 79.2% in the quarter primarily driven by foreign exchange.

•Marketing, selling and administrative expenses increased 10% to $1.8 billion in the quarter on a GAAP and non-GAAP basis primarily due to differences of timing of spend compared to the prior year as well as investments in our product portfolio.

•Research and development expenses increased 2% to $2.3 billion in the quarter primarily due to an in-process research and development (“IPRD”) impairment charge, partially offset by timing of spend. On a non-GAAP basis, research and development expenses decreased 4% to $2.1 billion in the quarter primarily due to timing of spend compared to the prior year.

•Acquired IPRD increased to $333 million in the quarter primarily due to up-front and milestone charges relating to the Dragonfly and Immatics licensing arrangements.

•Amortization of acquired intangible assets decreased 4% to $2.4 billion in the quarter primarily due to a longer than previously expected market exclusivity period for Pomalyst.

•The GAAP effective tax rate changed from 19.8% to 23.9% in the quarter primarily due to the non-taxable contingent value rights related income in the prior period. The non-GAAP effective tax rate changed from 16.8% to 15.9% in the quarter primarily due to jurisdictional earnings mix.

•The company reported net earnings attributable to Bristol Myers Squibb of $1.3 billion, or $0.59 per share, in the first quarter, compared to $2.0 billion, or $0.89 per share, for the same period a year ago. In addition to the items discussed above, the results include the impact of fair value adjustments on equity investments and contingent value rights in both periods.

•The company reported non-GAAP net earnings attributable to Bristol Myers Squibb of $4.2 billion, or $1.96 per share, in the first quarter, compared to non-GAAP net earnings of $4.0 billion, or $1.74 per share, for the same period a year ago. In addition to the items discussed above, the results in the current period included the impact of lower weighted-average common shares outstanding.

Beginning with the first quarter of 2022, significant R&D charges or other income resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights are no longer excluded from non-GAAP results. These R&D charges that were previously specified are now presented in a new financial statement line item labeled Acquired IPRD. In the first quarter of 2022, GAAP and non-GAAP earnings per share include a net impact of ($0.10) per share due to Acquired IPRD charges that were partially offset by licensing income. For purposes of comparability, the non-GAAP financial results for the first quarter of 2021 have been updated to reflect this change. A discussion of the non-GAAP financial measures is included under the “Use of Non-GAAP Financial Information” section.

FIRST QUARTER PRODUCT REVENUE HIGHLIGHTS

amounts in millions
Product	Quarter Ended<br><br>March 31, 2021	% Change from Quarter Ended March 31, 2021	% Change from Quarter Ended March 31, 2021 (Excl. F/X Impact)
In-Line Products
Eliquis	$2,886	11%	14%
Opdivo	$1,720	12%	15%
Pomalyst/Imnovid	$773	7%	9%
Orencia	$758	4%	6%
Sprycel	$470	3%	6%
Yervoy	$456	13%	16%
Empliciti	$85	(12)%	(9)%
Mature and Other Products**	$506	(9)%	(7)%
Total In-Line Products Revenue	$7,654	8%	11%
New Product Portfolio
Reblozyl	$112	39%	41%
Abecma	N/A	N/A	N/A
Zeposia	$18	100%	*
Breyanzi	N/A	N/A	N/A
Onureg	$15	53%	55%
Inrebic	$16	13%	14%
Opdualag	N/A	N/A	N/A
Total New Product Portfolio Revenue	$161	*	*
Total In-Line Products and New Product Portfolio Revenue	$7,815	11%	13%
Recent LOE Products
Revlimid	$2,944	(5)%	(4)%
Abraxane	$314	(32)%	(31)%
Total Recent LOE Products Revenue	$3,258	(8)%	(6)%

All values are in US Dollars.

*    In excess of +100%

**    Includes products that have lost exclusivity in major markets, over-the-counter (OTC) products, royalty revenue and other mature products.

REVENUE HIGHLIGHTS

In-Line Products

Revenues for in-line products in the first quarter were $8.3 billion compared to $7.7 billion in the prior year period, representing an increase of 8%. In-line products revenue was largely driven by:

•Eliquis revenues, which grew 11% compared to the prior year period. U.S. revenues were $2.1 billion compared to $1.9 billion in the prior year period, representing an increase of

12% driven by higher volume. International revenues were $1.1 billion compared to $963 million in the prior year period, representing an increase of 10% driven by higher demand, partially offset by foreign exchange.

•Opdivo revenues increased 12% compared to the prior year period. U.S. revenues were $1.1 billion compared to $944 million in the prior year period, representing an increase of 16% driven by higher demand across multiple indications including the Opdivo+Yervoy based combinations for non-small cell lung cancer (NSCLC), Opdivo+Cabometyx® combination for kidney cancer, and Opdivo-based therapies for various gastric and esophageal cancers, partially offset by declining second-line eligibility across tumor and increased competition. International revenues were $824 million compared to $776 million, representing an increase of 6% driven by higher demand as a result of launches for additional indications and core indications, partially offset by foreign exchange.

New Product Portfolio

New product portfolio revenues grew to $350 million compared to $161 million to the prior year period, driven by higher demand primarily relating to Abecma, Breyanzi and Reblozyl.

Recent LOE Products

•Revlimid revenues declined by 5% compared to the prior year period. U.S. revenues increased 4% to $2.0 billion as compared to the prior year period driven by higher volume. International revenues were $759 million compared to $986 million in the prior year period, representing a decrease of 23% driven by generic erosion across several EU countries and Canada and foreign exchange.

•Abraxane revenues declined 32% compared to the prior year period. U.S. revenues were $173 million compared to $225 million in the prior year period, representing a 23% decline driven by lower demand, primarily due to manufacturing delays.

PRODUCT AND PIPELINE UPDATE

Cardiovascular

Category		Asset	Milestone
Regulatory		CamzyosTM	The U.S. Food & Drug Administration (FDA) approved CamzyosTM (mavacamten) for the treatment of adults with symptomatic New York Heart Association (NYHA) class II-III obstructive hypertrophic cardiomyopathy (obstructive HCM) to improve functional capacity and symptoms. Camzyos is the first and only FDA-approved allosteric and reversible inhibitor selective for cardiac myosin that targets the underlying pathophysiology of obstructive HCM. The approval was based on the Phase 3 EXPLORER-HCM trial.
Clinical & Research		Camzyos	Interim results from the EXPLORER-LTE cohort of the MAVA-LTE trial showed sustained improvements in cardiovascular outcomes at 48 and 84 weeks among patients with symptomatic obstructive hypertrophic cardiomyopathy (oHCM) who were treated with Camzyos.
	Results from the Phase 3 VALOR-HCM trial showed that the study met its primary and secondary endpoints, significantly reducing the need for septal reduction therapy (SRT) in patients with severely symptomatic oHCM who had been appropriate for SRT per the 2011 American College of Cardiology/American Heart Association Guidelines at baseline, after 16 weeks of treatment with Camzyos.

Oncology

Category		Asset		Milestone
Regulatory		Opdivo® (nivolumab)		The European Commission (EC) approved Opdivo in combination with Yervoy for the first-line treatment of adult patients with unresectable advanced, recurrent or metastatic esophageal squamous cell carcinoma with tumor cell PD-L1 expression ≥ 1%. The EC also approved Opdivo in combination with fluoropyrimidine and platinum-based chemotherapy for the same indication. The approvals were based on data from the Phase 3 CheckMate -648 trial.
	The EC approved Opdivo for the adjuvant treatment of adults with high-risk muscle-invasive urothelial carcinoma with PD-L1 expression ≥1%, based on the Phase 3 CheckMate -274 trial. Opdivo is the first immunotherapy approved for these patients.
	The FDA approved Opdivo 360 mg (injection for intravenous use) in combination with platinum-doublet chemotherapy for the treatment of certain patients with resectable non-small cell lung cancer (NSCLC) in the neoadjuvant setting, based on the Phase 3 CheckMate -816 trial. This marks the first immunotherapy-based treatment approved in this setting. An application for this indication was also validated by the European Medicines Agency.
	OpdualagTM<br><br>(nivolumab and relatlimab-rmbw)		The FDA approved Opdualag, a new, first-in-class, fixed-dose combination of nivolumab and relatlimab, a novel LAG-3 inhibitor, for the treatment of adult and pediatric patients 12 years of age or older with unresectable or metastatic melanoma, based on the Phase 2/3 RELATIVITY-047 trial.
Category		Asset		Milestone
---	---	---	---	---
Clinical & Research		Opdivo		Results from the Phase 3 CheckMate -816 trial showed that neoadjuvant treatment with Opdivo in combination with chemotherapy significantly improved event-free survival compared to chemotherapy alone in patients with resectable NSCLC.
	Two-year follow-up results from the Phase 3 CheckMate -9ER trial demonstrated sustained survival, response rate benefits and health-related quality of life improvements with Opdivo combined with cabozantinib versus sunitinib in the first-line treatment of advanced renal cell carcinoma.
	bempegaldesleu-kin		Phase 3 PIVOT IO-001 trial did not meet its primary endpoints of progression-free survival and objective response rate in patients with previously untreated unresectable or metastatic melanoma who were treated with bempegaldesleukin in combination with Opdivo compared to Opdivo monotherapy. The trial was conducted in collaboration with Nektar Therapeutics (NASDAQ: NKTR).<br><br><br><br>Based upon subsequent results from pre-planned analyses of two late-stage clinical studies in renal cell carcinoma (RCC) and bladder cancer, coupled with the results of the PIVOT IO-001 trial in metastatic melanoma, BMS and Nektar have jointly decided to end the global clinical development program for bempegaldesleukin in combination with Opdivo.

Hematology

Category		Asset		Milestone
Regulatory		Breyanzi®<br><br>(lisocabtagene maraleucel)		The EC approved Breyanzi for the treatment of adult patients with relapsed or refractory (R/R) diffuse large B-cell lymphoma, primary mediastinal large B-cell lymphoma, and follicular lymphoma grade 3B after two or more lines of systemic therapy. The approval is based on results from the TRANSCEND WORLD and TRANSCEND NHL 001 trials.
	The FDA accepted for priority review the supplemental Biologics License Application (sBLA) to expand its current indication to include earlier use of Breyanzi for the treatment of adults with relapsed or refractory large B-cell lymphoma after failure of first-line therapy. The FDA assigned a PDUFA goal date of June 24, 2022. The sBLA is based on results from the Phase III TRANSFORM trial.
	Reblozyl®<br><br>(luspatercept-aamt)		The FDA extended the review of the sBLA for Reblozyl for the treatment of anemia in adults with non-transfusion-dependent beta thalassemia to June 27, 2022. The sBLA is based on results from the Phase 2 BEYOND trial.

Immunology

Category	Asset	Milestone
Clinical & Research	Zeposia® (ozanimod)	Interim results from the Phase 3 True North open-label extension trial demonstrated that the percentage of patients achieving clinical remission, clinical response, endoscopic improvement and corticosteroid-free remission was maintained through Week 142 for patients with moderately to severely active ulcerative colitis who were treated with Zeposia.

Capital Allocation

The company continues to maintain a consistent, balanced approach to capital allocation focused on prioritizing investments for growth through business development along with reducing debt, commitment to dividend growth and share repurchase.

•The Company extended the maturities of certain long-term debt (i) with the purchase of $6.0 billion of senior unsecured notes in March and April through tender offers and “make whole” redemptions and (ii) the issuance of $6.0 billion of additional senior unsecured notes maturing between 2032 and 2062.

•In February, the company entered into accelerated share repurchase (ASR) transactions to repurchase $5 billion of Bristol Myers Squibb common stock. The company anticipates that these ASR transactions will be settled during the second and third quarters of 2022.(link)

Financial Guidance

Bristol Myers Squibb is adjusting its 2022 GAAP and non-GAAP line-item guidance as follows:

Guidance for Total Net Sales, Revlimid Sales and Recent LOE Sales, is being adjusted due to foreign exchange and faster erosion of Revlimid in International markets. The Company is also adjusting operating expenses due to foreign exchange as well as cost discipline.

GAAP and non-GAAP earnings per share include the net impact of Acquired IPRD & licensing income due to ($0.10) incurred in Q1 and an additional ($0.11) due to the buyout of a future royalty obligation related to mavacamten that occurred in April 2022. Excluding these adjustments, the outlook for non-GAAP EPS is unchanged.

Key 2022 GAAP and non-GAAP line-item guidance assumptions are:

	U.S. GAAP		Non-GAAP
	February (Prior)	April (Revised)	February (Prior)	April (Revised)
Total Net Sales	~$47.0 billion<br><br>or<br><br>low single-digit<br><br>increase	In-line with 2021	~$47.0 billion<br><br>or<br><br>low single-digit<br><br>increase	In-line with 2021
Recent LOE Products1	~$10.5 billion<br><br>or<br><br>double-digit<br><br>decline	~$10.0 billion or<br><br>double-digit<br><br>decline	~$10.5 billion<br><br>or<br><br>double-digit<br><br>decline	~$10.0 billion or<br><br>double-digit<br><br>decline
Revlimid	$9.5-$10 billion	$9.0-$9.5 billion	$9.5-$10 billion	$9.0-$9.5 billion
In-line Products & New Product Portfolio	~$36.5 billion<br>or<br>Low double-<br>digit increase	No Change	~$36.5 billion<br>or<br>Low double-<br>digit increase	No Change
Gross Margin %	~78%	No Change	~78%	No Change
Operating Expenses2	Approx. 10%<br>decline	Mid single-digit<br>decline	In-line with 2021	Low single-digit<br>decline
Tax Rate	~24%	~22%	~16.5%	No Change
Diluted EPS	$3.37 - $3.67	$2.92 - $3.22	$7.65 - $7.95	$7.44 - $7.743

1 Recent LOE Products = Revlimid and Abraxane

2 Operating Expenses = MS&A and R&D, excluding IPRD and Amortization of acquired intangibles

3 Inclusive of net impact of ($0.21) of acquired IPRD and licensing income

The 2022 financial guidance excludes the impact of any potential future strategic acquisitions and divestitures, and any specified items that have not yet been identified and quantified and impact of future Acquired IPRD. Both GAAP and non-GAAP guidance assume current exchange rates. The 2022 non-GAAP EPS guidance is further explained under “Use of Non-GAAP Financial Information.” The financial guidance is subject to risks and uncertainties applicable to all forward-looking statements as described elsewhere in this press release.

Environmental, Social & Governance (ESG)

As a leading biopharma company, we understand our responsibility extends well beyond the discovery, development, and delivery of innovative medicines. Our evolving Environmental, Social, and Governance (ESG) strategy builds on a legacy of comprehensive and global sustainability efforts. To learn more about our priorities and goals, please visit our latest ESG report.

Conference Call Information

Bristol Myers Squibb will host a conference call today at 8 a.m. EDT during which company executives will review the quarterly financial results and address inquiries from investors and analysts. Investors and the general public are invited to listen to a live webcast of the call at http://investor.bms.com. To be directly connected to the conference call, enter your information

here; the link will be active 15 minutes prior to the scheduled start time of the call, and does not require a dial-in number or operator assistance to be connected.

Investors and the public can also access the live webcast by dialing in the U.S. toll free 866-409-1555 or international +1 786-789-4797, confirmation code: 5513095. Materials related to the call will be available at http://investor.bms.com prior to the start of the conference call.

A replay of the webcast will be available on http://investor.bms.com approximately three hours after the conference call concludes. A replay of the conference call will be available beginning at 11:30 a.m. EDT on April 29 through 11:30 a.m. EDT on May 13, 2022, by dialing in the U.S. toll free 888-203-1112 or international +1 719-457-0820, confirmation code: 5513095.

About Bristol Myers Squibb

Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.

Use of Non-GAAP Financial Information

In discussing financial results and guidance, the company refers to financial measures that are not in accordance with U.S. Generally Accepted Accounting Principles (GAAP). The non-GAAP financial measures are provided as supplemental information to the financial measures presented in this press release that are calculated and presented in accordance with GAAP and are presented because management has evaluated the company’s financial results both including and excluding the adjusted items or the effects of foreign currency translation, as applicable, and believes that the non-GAAP financial measures presented portray the results of the company's baseline performance, supplement or enhance management, analysts and investors overall understanding of the company’s underlying financial performance and trends and facilitate comparisons among current, past and future periods. In addition, non-GAAP gross margin, which is gross profit excluding certain specified items as a percentage of revenues, non-GAAP operating expenses, which is marketing, selling and administrative and research and development expenses excluding certain specified items, non-GAAP marketing, selling and administrative expenses, which is marketing, selling and administrative expense excluding certain specified items, and non-GAAP research and development expenses, which is research and development expenses excluding certain specified items, are relevant and useful for investors because they allow investors to view performance in a manner similar to the method used by our management and make it easier for investors, analysts and peers to compare our operating performance to other companies in our industry and to compare our year-over-year results.

This earnings release and the accompanying tables also provide certain revenues and expenses as well as non-GAAP measures excluding the impact of foreign exchange. We calculate foreign exchange impacts by converting our current-period local currency financial results using the prior period average currency rates and comparing these adjusted amounts to our current-period results.

Non-GAAP financial measures such as non-GAAP earnings and related EPS information are adjusted to exclude certain costs, expenses, gains and losses and other specified items that are evaluated on an individual basis after considering their quantitative and qualitative aspects and typically have one or more of the following characteristics, such as being highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not indicative of past or future operating results. These items are excluded from non-GAAP earnings and related EPS information because the company believes they neither relate to the ordinary course of the company’s business nor reflect the company’s underlying business performance. Similar charges or gains were recognized in prior periods and will likely reoccur in future periods, including amortization of acquired intangible assets, including product rights that generate a significant portion of our ongoing revenue and will recur until the intangible assets are fully amortized, unwind of inventory purchase price adjustments, acquisition and integration expenses, restructuring costs, accelerated depreciation and impairment of property, plant and equipment and intangible assets, divestiture gains or losses, stock compensation resulting from accelerated vesting of Celgene awards, certain retention-related employee compensation charges related to the Celgene transaction, pension, legal and other contractual settlement charges, equity investment and contingent value rights fair value adjustments (including fair value adjustments attributed to limited partnership equity method investments) and amortization of fair value adjustments of debt acquired from Celgene in our 2019 exchange offer, among other items. Deferred and current income taxes attributed to these items are also adjusted for considering their individual impact to the overall tax expense, deductibility and jurisdictional tax rates.

Beginning with the first quarter of 2022, significant R&D charges or other income resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights are no longer excluded from our non-GAAP financial measures. We are making these changes to our presentation of non-GAAP financial measures following comments from and discussions with the U.S. Securities and Exchange Commission. For purposes of comparability, the non-GAAP financial measures for the three months ended March 31, 2021 have been updated to reflect this change.

Because the non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered superior to and are not intended to be considered in isolation or as a substitute for the related financial measures presented in the press release that are prepared in accordance with GAAP and may not be the same as or comparable to similarly titled measures presented by other companies due to possible differences in method and in the items being adjusted. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.

Reconciliations of the non-GAAP financial measures to the most comparable GAAP measures are provided in the accompanying financial tables and also available on the company’s website at www.bms.com. Within the attached financial tables presented, certain columns and rows may not add due to the use of rounded numbers. Percentages and earnings per share amounts presented are calculated from the underlying amounts.

Website Information

We routinely post important information for investors on our website, BMS.com, in the “Investors” section. We may use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. We may also use social media channels to

communicate with our investors and the public about our company, our products and other matters, and those communications could be deemed to be material information. The information contained on, or that may be accessed through, our website or social media channels are not incorporated by reference into, and are not a part of, this document.

Cautionary Statement Regarding Forward-Looking Statements

This earnings release and the related attachments (as well as the oral statements made with respect to information contained in this release and the attachments) contain certain “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, statements relating to goals, plans and projections regarding the company’s current and projected financial position, results of operations, market position, product development, share repurchase program and business strategy. These statements may be identified by the fact they use words such as “should,” “could,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe,” “will” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance, although not all forward-looking statements contain such terms. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. These statements are likely to relate to, among other things, the company’s ability to execute successfully its strategic plans, including its business development strategy and capital allocation strategy, planned product launches and updates, expectations relating to its pipeline and in relation to its ability to realize the projected benefits of the Celgene acquisition and the MyoKardia acquisition, the full extent of the impact of the COVID-19 pandemic on the company’s operations and the development and commercialization of its products, potential laws and regulations to lower drug costs, market actions taken by private and government payers to manage drug utilization and contain costs, the expiration of patents or data protection on certain products, including assumptions about the company’s ability to retain patent exclusivity of certain products, and the impact and the result of governmental investigations. No forward-looking statement can be guaranteed, including that the company’s future clinical studies will support the data described in this release, product candidates will receive necessary clinical and manufacturing regulatory approvals, pipeline products will prove to be commercially successful, clinical and manufacturing regulatory approvals will be sought or obtained within currently expected timeframes or contractual milestones will be achieved.

Forward-looking statements are based on current expectations and projections about the company’s future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond the company’s control and could cause the company’s future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. Such risks, uncertainties and other matters include, but are not limited to: increasing pricing pressures from market access, pharmaceutical pricing controls and discounting; changes to tax and importation laws and other restrictions in the United States, the European Union and other regions around the world that result in lower prices, lower reimbursement rates and smaller populations for whom payers will reimburse; changes under the 340B Drug Pricing Program; challenges inherent in new product development, including obtaining and maintaining regulatory approval; the company’s ability to obtain and protect market exclusivity rights and enforce patents and other intellectual

property rights; the possibility of difficulties and delays in product introduction and commercialization; the risk of certain novel approaches to disease treatment (such as CAR T therapy); industry competition from other manufacturers; potential difficulties, delays and disruptions in manufacturing, distribution or sale of products, including without limitation, interruptions caused by damage to the company’s and the company’s suppliers’ manufacturing sites; the impact of integrating the company’s and Celgene’s business and operations, including with respect to human capital management, portfolio rationalization, finance and accounting systems, sales operations and product distribution, pricing systems and methodologies, data security systems, compliance programs and internal controls processes; the risk of an adverse patent litigation decision or settlement and exposure to other litigation and/or regulatory actions; the impact of any healthcare reform and legislation or regulatory action in the United States and international markets; increasing market penetration of lower-priced generic products; the failure of the company’s suppliers, vendors, outsourcing partners, alliance partners and other third parties to meet their contractual, regulatory and other obligations; regulatory decisions impacting labeling, manufacturing processes and/or other matters; the impact on the company’s competitive position from counterfeit or unregistered versions of its products or stolen products; the adverse impact of cyber-attacks on the company’s information systems or products, including unauthorized disclosure of trade secrets or other confidential data stored in the company’s information systems and networks; the company’s ability to execute its financial, strategic and operational plans; the company’s ability to identify potential strategic acquisitions, licensing opportunities or other beneficial transactions; the company’s dependency on several key products; any decline in the company’s future royalty streams; the company’s ability to effectively manage acquisitions, divestitures, alliances and other portfolio actions and to successfully realize the expected benefits of such actions; the company’s ability to attract and retain key personnel; the impact of the company’s significant additional indebtedness that it incurred in connection with the Celgene acquisition and the MyoKardia acquisition; political and financial instability of international economies and sovereign risk including as a result of the Russian Federation-Ukraine conflict; interest rate and currency exchange rate fluctuations, credit and foreign exchange risk management; the impact of adverse outcomes in lawsuits, claims, proceedings and government investigations; the impact of our exclusive forum provision in our by-laws for certain lawsuits on our stockholders’ ability to obtain a judicial forum that it finds favorable for such lawsuits; issuance of new or revised accounting standards; and risks relating to public health outbreaks, epidemics and pandemics, including the impact of the COVID-19 pandemic on the company’s operations. In addition, the financial guidance provided in this release relies on assumptions about the duration and severity of the COVID-19 pandemic, timing of the return to a more stable business environment, patient and physician behaviors, buying patterns and clinical trial activities, which may prove to be incorrect.

Forward-looking statements in this earnings release should be evaluated together with the many risks and uncertainties that affect the company’s business and market, particularly those identified in the cautionary statement and risk factors discussion in the company’s Annual Report on Form 10-K for the year ended December 31, 2021, as updated by the company’s subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other filings with the Securities and Exchange Commission. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.

BRISTOL-MYERS SQUIBB COMPANY

PRODUCT REVENUES

FOR THE THREE MONTHS ENDED MARCH 31, 2022 AND 2021

(Unaudited, dollars in millions)

	Worldwide Revenues						U.S. Revenues(c)
	2022		2021		% Change		2022		2021		% Change
In-Line Products
Eliquis	$	3,211	$	2,886	11	%	$	2,147	$	1,923	12	%
Opdivo	1,923		1,720		12	%	1,099		944		16	%
Pomalyst/Imnovid	826		773		7	%	557		512		9	%
Orencia	792		758		4	%	592		536		10	%
Sprycel	483		470		3	%	305		275		11	%
Yervoy	515		456		13	%	311		294		6	%
Empliciti	75		85		(12)	%	47		51		(8)	%
Mature and other products(a)	462		506		(9)	%	133		152		(13)	%
Total In-Line Products	8,287		7,654		8	%	5,191		4,687		11	%
New Product Portfolio
Reblozyl	156		112		39	%	134		98		37	%
Abecma	67		—		NA		56		—		NA
Zeposia	36		18		100	%	21		13		62	%
Breyanzi	44		—		NA		41		—		NA
Inrebic	18		16		13	%	15		15		—
Onureg	23		15		53	%	19		14		36	%
Opdualag	6		—		NA		6		—		NA
Total New Product Portfolio	350		161		**		292		140		**
Recent LOE Products(b)
Revlimid	2,797		2,944		(5)	%	2,038		1,958		4	%
Abraxane	214		314		(32)	%	173		225		(23)	%
Total Recent LOE Products	3,011		3,258		(8)	%	2,211		2,183		1	%
Total	$	11,648	$	11,073	5	%	$	7,694	$	7,010	10	%

**    In excess of +/- 100%

(a)    Includes products that have lost exclusivity in major markets, over-the-counter (OTC) products, royalty revenue and mature products.

(b)    Recent LOE Products includes products with significant expected decline in revenue from a prior reporting period as a result of a loss of exclusivity.

(c)    Includes Puerto Rico.

BRISTOL-MYERS SQUIBB COMPANY

CONSOLIDATED STATEMENTS OF EARNINGS

FOR THE THREE MONTHS ENDED MARCH 31, 2022 AND 2021

(Unaudited, dollars and shares in millions except per share data)

	Three Months Ended March 31,
	2022		2021
Net product sales	$	11,308	$	10,798
Alliance and other revenues	340		275
Total Revenues	11,648		11,073
Cost of products sold(a)	2,471		2,841
Marketing, selling and administrative	1,831		1,666
Research and development(b)	2,260		2,219
Acquired IPRD(b)	333		6
Amortization of acquired intangible assets	2,417		2,513
Other (income)/expense, net	649		(702)
Total Expenses	9,961		8,543
Earnings Before Income Taxes	1,687		2,530
Provision for Income Taxes	404		501
Net Earnings	1,283		2,029
Noncontrolling Interest	5		8
Net Earnings Attributable to BMS	$	1,278	$	2,021
Weighted-Average Common Shares Outstanding:
Basic	2,146		2,236
Diluted	2,164		2,265
Earnings per Common Share:
Basic	$	0.60	$	0.90
Diluted	0.59		0.89
Other (income)/expense, net
Interest expense(c)	$	326	$	353
Royalties and licensing income	(477)		(367)
Equity investment losses/(gains)	644		(601)
Integration expenses	105		141
Contingent consideration	1		(510)
Loss on debt redemption	275		281
Provision for restructuring	23		45
Litigation and other settlements	(37)		(8)
Transition and other service fees	(1)		(15)
Investment income	(10)		(9)
Divestiture gains	(211)		—
Other	11		(12)
Other (income)/expense, net	$	649	$	(702)

(a)    Excludes amortization of acquired intangible assets.

(b)    Research and development charges resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights have been reclassified to the Acquired IPRD line item beginning with the first quarter of 2022. Prior period results have been revised for comparability.

(c)    Includes amortization of purchase price adjustments to Celgene debt.

BRISTOL-MYERS SQUIBB COMPANY

SPECIFIED ITEMS

FOR THE THREE MONTHS ENDED MARCH 31, 2022 AND 2021

(Unaudited, dollars in millions)

	Three Months Ended March 31,
	2022		2021(a)
Inventory purchase price accounting adjustments	$	52	$	79
Intangible asset impairment	—		315
Site exit and other costs	—		23
Cost of products sold	52		417
Site exit and other costs	2		(1)
Marketing, selling and administrative	2		(1)
IPRD impairments	40		—
Inventory purchase price accounting adjustments	87		—
Employee compensation charges	—		1
Research and development	127		1
Amortization of acquired intangible assets	2,417		2,513
Interest expense(b)	(27)		(34)
Equity investment losses/(gains)	643		(608)
Integration expenses	105		141
Contingent consideration	—		(510)
Loss on debt redemption	275		281
Provision for restructuring	23		45
Litigation and other settlements	(40)		—
Divestiture gains	(211)		—
Other (income)/expense, net	768		(685)
Increase to pretax income	3,366		2,245
Income taxes on items above	(398)		(303)
Increase to net earnings	$	2,968	$	1,942

(a)    Revised to exclude significant R&D charges or other income resulting from up-front and contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights (including related income tax impacts).

(b)    Includes amortization of purchase price adjustments to Celgene debt.

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF CERTAIN GAAP LINE ITEMS TO CERTAIN NON-GAAP LINE ITEMS

FOR THE THREE MONTHS ENDED MARCH 31, 2022 AND 2021

(Unaudited, dollars and shares in millions except per share data)

	Three Months Ended March 31, 2022
	GAAP			Specified Items(a)			Non-GAAP
Gross Profit	$	9,177		$	52		$	9,229
Marketing, selling and administrative	1,831			(2)			1,829
Research and development	2,260			(127)			2,133
Amortization of acquired intangible assets	2,417			(2,417)			—
Other (income)/expense, net	649			(768)			(119)
Earnings Before Income Taxes	1,687			3,366			5,053
Provision for Income Taxes	404			398			802
Noncontrolling interest	5			—			5
Net Earnings Attributable to BMS used for Diluted EPS Calculation	$	1,278		$	2,968		$	4,246
Weighted-Average Common Shares Outstanding - Diluted	2,164			2,164			2,164
Diluted Earnings Per Share	$	0.59		$	1.37		$	1.96
Effective Tax Rate	23.9		%	(8.0)		%	15.9		%
	Three Months Ended March 31, 2021
	GAAP			Specified Items(a)			Non-GAAP
Gross Profit	$	8,232		$	417		$	8,649
Marketing, selling and administrative	1,666			1			1,667
Research and development	2,225			(1)			2,224
Amortization of acquired intangible assets	2,513			(2,513)			—
Other (income)/expense, net	(702)			685			(17)
Earnings Before Income Taxes	2,530			2,245			4,775
Provision for Income Taxes	501			303			804
Noncontrolling interest	8			—			8
Net Earnings Attributable to BMS used for Diluted EPS Calculation	$	2,021		$	1,942		$	3,963
Weighted-Average Common Shares Outstanding - Diluted	2,265			2,265			2,265
Diluted Earnings Per Share	$	0.89		$	0.85		$	1.74
Effective Tax Rate	19.8		%	(3.0)		%	16.8		%

(a)    Refer to the Specified Items schedule for further details. Effective tax rate on the Specified Items represents the difference between the GAAP and Non-GAAP effective tax rate.

BRISTOL-MYERS SQUIBB COMPANY

NET DEBT CALCULATION

AS OF MARCH 31, 2022 AND DECEMBER 31, 2021

(Unaudited, dollars in millions)

	March 31,<br>2022		December 31,<br>2021
Cash and cash equivalents	$	12,369	$	13,979
Marketable debt securities - current	2,599		2,987
Cash, cash equivalents and marketable debt securities	14,968		16,966
Short-term debt obligations	(7,522)		(4,948)
Long-term debt	(37,450)		(39,605)
Net debt position	$	(30,004)	$	(27,587)

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Investor Relations: investor.relations@bms.com

19

Document

Exhibit 99.2

BRISTOL-MYERS SQUIBB COMPANY

QUARTERLY TREND ANALYSIS OF REVENUES

(Unaudited, dollars in millions)

Revenues	2021																					2022									% Change		FX Impact(b)
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year	Qtr vs. Qtr	YTD vs. YTD	Qtr vs. Qtr	YTD vs. YTD
United States	$	7,010		$	7,388		$	14,398		$	7,296		$	21,694		$	7,520		$	29,214		$	7,694								10%	10%	—	—
Europe	2,553			2,689			5,242			2,661			7,903			2,784			10,687			2,413									(5)%	(5)%	(6)%	(6)%
Rest of the World	1,346			1,435			2,781			1,391			4,172			1,460			5,632			1,314									(2)%	(2)%	(4)%	(4)%
Other(a)	164			191			355			276			631			221			852			227									38%	38%	—	—
Total	$	11,073		$	11,703		$	22,776		$	11,624		$	34,400		$	11,985		$	46,385		$	11,648								5%	5%	(2)%	(2)%
% of Revenues	2021																					2022
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year
United States	63.3		%	63.1		%	63.2		%	62.8		%	63.1		%	62.7		%	63.0		%	66.1		%
Europe	23.1		%	23.0		%	23.0		%	22.9		%	23.0		%	23.2		%	23.0		%	20.7		%
Rest of the World	12.2		%	12.3		%	12.2		%	12.0		%	12.1		%	12.2		%	12.1		%	11.3		%
Other	1.4		%	1.6		%	1.6		%	2.3		%	1.8		%	1.9		%	1.9		%	1.9		%
Total	100.0		%	100.0		%	100.0		%	100.0		%	100.0		%	100.0		%	100.0		%	100.0		%

(a)    Other revenues include royalties and alliance-related revenues for products not sold by our regional commercial organizations.

(b)    Foreign exchange impacts were derived by converting our current-period local currency financial results using the prior period average currency rates and comparing these adjusted amounts to our current-period results.

BRISTOL-MYERS SQUIBB COMPANY

EARNINGS FROM OPERATIONS

(Unaudited, dollars and shares in millions except per share data)

	2021																					2022									% Change
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year	Qtr vs. Qtr	YTD vs. YTD
Net product sales	$	10,798		$	11,405		$	22,203		$	11,243		$	33,446		$	11,609		$	45,055		$	11,308								5%	5%
Alliance and other revenues	275			298			573			381			954			376			1,330			340									24%	24%
Total Revenues	11,073			11,703			22,776			11,624			34,400			11,985			46,385			11,648									5%	5%
Cost of products sold(a)	2,841			2,452			5,293			2,291			7,584			2,356			9,940			2,471									(13)%	(13)%
Marketing, selling and administrative	1,666			1,882			3,548			1,788			5,336			2,354			7,690			1,831									10%	10%
Research and development(b)	2,219			2,478			4,697			2,980			7,677			2,518			10,195			2,260									2%	2%
Acquired IPRD(b)	6			793			799			271			1,070			89			1,159			333									**	**
Amortization of acquired intangible assets	2,513			2,547			5,060			2,546			7,606			2,417			10,023			2,417									(4)%	(4)%
Other (income)/expense, net	(702)			(2)			(704)			(409)			(1,113)			393			(720)			649									**	**
Total Expenses	8,543			10,150			18,693			9,467			28,160			10,127			38,287			9,961									17%	17%
Earnings Before Income Taxes	2,530			1,553			4,083			2,157			6,240			1,858			8,098			1,687									(33)%	(33)%
Provision/(Benefit) for Income Taxes	501			492			993			605			1,598			(514)			1,084			404									(19)%	(19)%
Net Earnings	2,029			1,061			3,090			1,552			4,642			2,372			7,014			1,283									(37)%	(37)%
Noncontrolling Interest	8			6			14			6			20			—			20			5									(38)%	(38)%
Net Earnings Attributable to BMS	$	2,021		$	1,055		$	3,076		$	1,546		$	4,622		$	2,372		$	6,994		$	1,278								(37)%	(37)%
Diluted Earnings per Common Share*	$	0.89		$	0.47		$	1.36		$	0.69		$	2.05		$	1.07		$	3.12		$	0.59								(34)%	(34)%
Weighted-Average Common Shares Outstanding - Diluted	2,265			2,252			2,258			2,243			2,253			2,219			2,245			2,164									—	—
Dividends declared per common share	$	0.49		$	0.49		$	0.98		$	0.49		$	1.47		$	0.54		$	2.01		$	0.54								10%	10%
	2021																					2022
% of Total Revenues	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year
Gross Margin	74.3		%	79.0		%	76.8		%	80.3		%	78.0		%	80.3		%	78.6		%	78.8		%
Other Ratios
Effective tax rate	19.8		%	31.7		%	24.3		%	28.0		%	25.6		%	(27.7)		%	13.4		%	23.9		%
Other (income)/expense, net	2021																					2022									% Change
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year	Qtr vs. Qtr	YTD vs. YTD
Interest expense(c)	$	353		$	330		$	683		$	328		$	1,011		$	323		$	1,334		$	326								(8)%	(8)%
Royalties and licensing income	(367)			(405)			(772)			(425)			(1,197)			(536)			(1,733)			(477)									30%	30%
Equity investment losses/(gains)	(601)			(148)			(749)			(465)			(1,214)			469			(745)			644									**	**
Integration expenses	141			152			293			141			434			130			564			105									(26)%	(26)%
Contingent consideration	(510)			—			(510)			—			(510)			(32)			(542)			1									**	**
Loss on debt redemption	281			—			281			—			281			—			281			275									(2)%	(2)%
Provision for restructuring	45			78			123			27			150			19			169			23									(49)%	(49)%
Litigation and other settlements	(8)			44			36			13			49			33			82			(37)									**	**
Transition and other service fees	(15)			(22)			(37)			(6)			(43)			(6)			(49)			(1)									(93)%	(93)%
Investment income	(9)			(12)			(21)			(12)			(33)			(6)			(39)			(10)									11%	11%
Divestiture (gains)/losses	—			(11)			(11)			2			(9)			—			(9)			(211)									**	**
Other	(12)			(8)			(20)			(12)			(32)			(1)			(33)			11									**	**
Other (income)/expense, net	$	(702)		$	(2)		$	(704)		$	(409)		$	(1,113)		$	393		$	(720)		$	649								**	**

*    Quarterly amounts may not add to the year-to-date amounts, as each period is computed on a discrete basis.

**    In excess of +/- 100%.

(a)    Excludes amortization of acquired intangible assets.

(b)    Research and development charges resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights have been reclassified to the Acquired IPRD line item beginning with the first quarter of 2022. Prior period results have been revised for comparability.

(c)    Includes amortization of purchase price adjustments to Celgene debt.

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF GAAP AND NON-GAAP GROWTH DOLLARS AND PERCENTAGES EXCLUDING FOREIGN EXCHANGE IMPACT

FOR THE PERIOD ENDED MARCH 31, 2022

(Unaudited, dollars in millions)

QUARTER-TO-DATE	2022			2021			Change	% Change		Favorable / (Unfavorable) FX Impact *	2022 Excluding FX		Favorable / (Unfavorable) FX Impact %*		% Change Excluding FX
Revenues	$	11,648		$	11,073			5	%		$	11,880	(2)	%	7	%
Gross profit	9,177			8,232			945	11	%	N/A	N/A		N/A		N/A
Gross profit excluding specified items(a)	9,229			8,649			580	7	%	N/A	N/A		N/A		N/A
Gross profit excluding specified items as a % of revenues	79.2		%	78.1		%
Marketing, selling and administrative	1,831			1,666			165	10	%	26	1,857		1	%	11	%
Marketing, selling and administrative excluding specified items(a)	1,829			1,667			162	10	%	26	1,855		1	%	11	%
Marketing, selling and administrative excluding specified items as a % of revenues	15.7		%	15.1		%
Research and development	2,260			2,219			41	2	%	13	2,273		—		2	%
Research and development excluding specified items(a)	2,133			2,218			(85)	(4)	%	13	2,146		1	%	(3)	%
Research and development excluding specified items as a % of revenues	18.3		%	20.0		%

All values are in US Dollars.

*    Foreign exchange impacts were derived by converting our current-period local currency financial results using the prior period average currency rates and comparing these adjusted amounts to our current-period results.

(a)    Refer to the Specified Items schedule for further details.

BRISTOL-MYERS SQUIBB COMPANY

WORLDWIDE REVENUES

QUARTERLY REVENUES TREND ANALYSIS

(Unaudited, dollars in millions)

	2021														2022								Change			% Change
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year	Qtr vs. Qtr	YTD vs. YTD		Qtr vs. Qtr	YTD vs. YTD
In-Line Products
Eliquis	$	2,886	$	2,792	$	5,678	$	2,413	$	8,091	$	2,671	$	10,762	$	3,211								$	325	11%	11%
Opdivo	1,720		1,910		3,630		1,905		5,535		1,988		7,523		1,923								203	203		12%	12%
Pomalyst/Imnovid	773		854		1,627		851		2,478		854		3,332		826								53	53		7%	7%
Orencia	758		814		1,572		870		2,442		864		3,306		792								34	34		4%	4%
Sprycel	470		541		1,011		551		1,562		555		2,117		483								13	13		3%	3%
Yervoy	456		510		966		515		1,481		545		2,026		515								59	59		13%	13%
Empliciti	85		86		171		82		253		81		334		75								(10)	(10)		(12)%	(12)%
Mature and other products(a)	506		473		979		480		1,459		441		1,900		462								(44)	(44)		(9)%	(9)%
Total In-Line Products	7,654		7,980		15,634		7,667		23,301		7,999		31,300		8,287								633	633		8%	8%
New Product Portfolio
Reblozyl	112		128		240		160		400		151		551		156								44	44		39%	39%
Abecma	—		24		24		71		95		69		164		67								67	67		NA	NA
Zeposia	18		28		46		40		86		48		134		36								18	18		100%	100%
Breyanzi	—		17		17		30		47		40		87		44								44	44		NA	NA
Inrebic	16		16		32		22		54		20		74		18								2	2		13%	13%
Onureg	15		12		27		21		48		25		73		23								8	8		53%	53%
Opdualag	—		—		—		—		—		—		—		6								6	6		NA	NA
Total New Product Portfolio	161		225		386		344		730		353		1,083		350								189	189		**	**
Recent LOE Products(b)
Revlimid	2,944		3,202		6,146		3,347		9,493		3,328		12,821		2,797								(147)	(147)		(5)%	(5)%
Abraxane	314		296		610		266		876		305		1,181		214								(100)	(100)		(32)%	(32)%
Total Recent LOE Products	3,258		3,498		6,756		3,613		10,369		3,633		14,002		3,011								(247)	(247)		(8)%	(8)%
Total	$	11,073	$	11,703	$	22,776	$	11,624	$	34,400	$	11,985	$	46,385	$	11,648								$	575	5%	5%

All values are in US Dollars.

**    In excess of +/- 100%.

(a)    Includes products that have lost exclusivity in major markets, over-the-counter (OTC) products, royalty revenue and other mature products.

(b)    Recent LOE products includes products with significant expected decline in revenue from a prior reporting period as a result of a loss of exclusivity.

BRISTOL-MYERS SQUIBB COMPANY

U.S. REVENUES

QUARTERLY REVENUES TREND ANALYSIS

(Unaudited, dollars in millions)

	2021														2022								% Change
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year	Qtr vs. Qtr	YTD vs. YTD
In-Line Products
Eliquis	1,923		1,722		3,645		1,315		4,960		1,496		6,456		2,147								12%	12%
Opdivo	944		1,076		2,020		1,062		3,082		1,120		4,202		1,099								16%	16%
Pomalyst/Imnovid	512		567		1,079		586		1,665		584		2,249		557								9%	9%
Orencia	536		593		1,129		644		1,773		637		2,410		592								10%	10%
Sprycel	275		325		600		346		946		351		1,297		305								11%	11%
Yervoy	294		328		622		313		935		330		1,265		311								6%	6%
Empliciti	51		51		102		48		150		50		200		47								(8)%	(8)%
Mature and other products(a)	152		130		282		152		434		146		580		133								(13)%	(13)%
Total In-Line Products	4,687		4,792		9,479		4,466		13,945		4,714		18,659		5,191								11%	11%
New Product Portfolio
Reblozyl	98		110		208		147		355		130		485		134								37%	37%
Abecma	—		24		24		67		91		67		158		56								NA	N/A
Zeposia	13		20		33		32		65		34		99		21								62%	62%
Breyanzi	—		17		17		29		46		38		84		41								NA	NA
Inrebic	15		15		30		20		50		17		67		15								—	—
Onureg	14		12		26		21		47		22		69		19								36%	36%
Opdualag	—		—		—		—		—		—		—		6								NA	NA
Total New Product Portfolio	140		198		338		316		654		308		962		292								**	**
Recent LOE Products(b)
Revlimid	$	1,958	$	2,164	$	4,122	$	2,303	$	6,425	$	2,270	$	8,695	$	2,038							4%	4%
Abraxane	225		234		459		211		670		228		898		173								(23)%	(23)%
Total Recent LOE Products	2,183		2,398		4,581		2,514		7,095		2,498		9,593		2,211								1%	1%
Total(c)	$	7,010	$	7,388	$	14,398	$	7,296	$	21,694	$	7,520	$	29,214	$	7,694							10%	10%

**    In excess of +/- 100%.

(a)    Includes products that have lost exclusivity in major markets, OTC products, royalty revenue and other mature products.

(b)    Recent LOE products includes products with significant expected decline in revenue from a prior reporting period as a result of a loss of exclusivity.

(c)    Includes Puerto Rico.

BRISTOL-MYERS SQUIBB COMPANY

INTERNATIONAL REVENUES

QUARTERLY REVENUES TREND ANALYSIS

(Unaudited, dollars in millions)

	2021														2022								% Change(c)
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year	Qtr vs. Qtr	YTD vs. YTD
In-Line Products
Eliquis	963		1,070		2,033		1,098		3,131		1,175		4,306		1,064								10%	10%
Opdivo	776		834		1,610		843		2,453		868		3,321		824								6%	6%
Pomalyst/Imnovid	261		287		548		265		813		270		1,083		269								3%	3%
Orencia	222		221		443		226		669		227		896		200								(10)%	(10)%
Sprycel	195		216		411		205		616		204		820		178								(9)%	(9)%
Yervoy	162		182		344		202		546		215		761		204								26%	26%
Empliciti	34		35		69		34		103		31		134		28								(18)%	(18)%
Mature and other products(a)	354		343		697		328		1,025		295		1,320		329								(7)%	(7)%
Total In-Line Products	2,967		3,188		6,155		3,201		9,356		3,285		12,641		3,096								4%	4%
New Product Portfolio
Reblozyl	14		18		32		13		45		21		66		22								57%	57%
Abecma	—		—		—		4		4		2		6		11								NA	NA
Zeposia	5		8		13		8		21		14		35		15								**	**
Breyanzi	—		—		—		1		1		2		3		3								NA	NA
Inrebic	1		1		2		2		4		3		7		3								**	**
Onureg	1		—		1		—		1		3		4		4								**	**
Total New Product Portfolio	21		27		48		28		76		45		121		58								**	**
Recent LOE Products(b)
Revlimid	$	986	$	1,038	$	2,024	$	1,044	$	3,068	$	1,058	$	4,126	$	759							(23)%	(23)%
Abraxane	89		62		151		55		206		77		283		41								(54)%	(54)%
Total Recent LOE Products	1,075		1,100		2,175		1,099		3,274		1,135		4,409		800								(26)%	(26)%
Total	$	4,063	$	4,315	$	8,378	$	4,328	$	12,706	$	4,465	$	17,171	$	3,954							(3)%	(3)%

(a)    Includes products that have lost exclusivity in major markets, OTC products, royalty revenue and other mature products.

(b)    Recent LOE products includes products with significant expected decline in revenue from a prior reporting period as a result of a loss of market exclusivity.

(c)    The foreign exchange impact on international revenues was unfavorable 6% for the first quarter. The foreign exchange impact on select products is included below.

	Quarter-to-Date			Year-to-Date
	Revenue Change %	Favorable/ (Unfavorable) FX Impact %	Revenue Change % Excluding FX	Revenue Change %	Favorable/ (Unfavorable) FX Impact %	Revenue Change % Excluding FX
Eliquis	10%	(7)%	17%	10%	(7)%	17%
Opdivo	6%	(7)%	13%	6%	(7)%	13%
Pomalyst/Imnovid	3%	(6)%	9%	3%	(6)%	9%
Orencia	(10)%	(6)%	(4)%	(10)%	(6)%	(4)%
Sprycel	(9)%	(7)%	(2)%	(9)%	(7)%	(2)%
Yervoy	26%	(8)%	34%	26%	(8)%	34%
Empliciti	(18)%	(6)%	(12)%	(18)%	(6)%	(12)%
Revlimid	(23)%	(4)%	(19)%	(23)%	(4)%	(19)%
Abraxane	(54)%	(2)%	(52)%	(54)%	(2)%	(52)%

BRISTOL-MYERS SQUIBB COMPANY

SPECIFIED ITEMS

(Unaudited, dollars in millions)

	2021(a)														2022
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year
Inventory purchase price accounting adjustments	$	79	$	88	$	167	$	97	$	264	$	—	$	264	$	52
Intangible asset impairment	315		—		315		—		315		—		315		—
Site exit and other costs	23		1		24		—		24		—		24		—
Cost of products sold	417		89		506		97		603		—		603		52
Employee compensation charges	—		1		1		—		1		—		1		—
Site exit and other costs	(1)		—		(1)		1		—		2		2		2
Marketing, selling and administrative	(1)		1		—		1		1		2		3		2
IPRD impairments	—		230		230		610		840		—		840		40
Inventory purchase price accounting adjustments	—		—		—		1		1		—		1		87
Employee compensation charges	1		—		1		—		1		—		1		—
Site exit and other costs	—		—		—		1		1		—		1		—
Research and development	1		230		231		612		843		—		843		127
Amortization of acquired intangible assets	2,513		2,547		5,060		2,546		7,606		2,417		10,023		2,417
Interest expense(b)	(34)		(28)		(62)		(29)		(91)		(29)		(120)		(27)
Equity investment (gains)/losses	(608)		(154)		(762)		(465)		(1,227)		469		(758)		643
Integration expenses	141		152		293		141		434		130		564		105
Contingent consideration	(510)		—		(510)		—		(510)		(32)		(542)		—
Loss on debt redemption	281		—		281		—		281		—		281		275
Provision for restructuring	45		78		123		27		150		19		169		23
Litigation and other settlements	—		—		—		—		—		—		—		(40)
Divestiture (gains)/losses	—		(11)		(11)		2		(9)		—		(9)		(211)
Other (income)/expense, net	(685)		37		(648)		(324)		(972)		557		(415)		768
Increase to pretax income	2,245		2,904		5,149		2,932		8,081		2,976		11,057		3,366
Income taxes on items above	(303)		(292)		(595)		(137)		(732)		(261)		(993)		(398)
Income taxes attributed to internal transfer of intangible assets	—		—		—		—		—		(983)		(983)		—
Income taxes	(303)		(292)		(595)		(137)		(732)		(1,244)		(1,976)		(398)
Increase to net earnings	$	1,942	$	2,612	$	4,554	$	2,795	$	7,349	$	1,732	$	9,081	$	2,968

(a)    Revised to exclude significant R&D charges or other income resulting from up-front and contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights (including related income tax impacts).

(b)    Includes amortization of purchase price adjustments to Celgene debt.

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF CERTAIN GAAP LINE ITEMS TO CERTAIN NON-GAAP LINE ITEMS

(Unaudited, dollars in millions)

	2021														2022
	1st Qtr		2nd Qtr		6 Months		3rd Qtr		9 Months		4th Qtr		Year		1st Qtr		2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year
Gross Profit	$	8,232	$	9,251	$	17,483	$	9,333	$	26,816	$	9,629	$	36,445	$	9,177
Specified items(a)	417		89		506		97		603		—		603		52
Gross profit excluding specified items	8,649		9,340		17,989		9,430		27,419		9,629		37,048		9,229
Marketing, selling and administrative	1,666		1,882		3,548		1,788		5,336		2,354		7,690		1,831
Specified items(a)	1		(1)		—		(1)		(1)		(2)		(3)		(2)
Marketing, selling and administrative excluding specified items	1,667		1,881		3,548		1,787		5,335		2,352		7,687		1,829
Research and development	2,225		3,271		5,496		3,251		8,747		2,607		11,354		2,260
Specified items(a)	(1)		(230)		(31)		(612)		(843)		—		(843)		(127)
Research and development excluding specified items	2,224		3,041		5,465		2,639		7,904		2,607		10,511		2,133
Amortization of acquired intangible assets	2,513		2,547		5,060		2,546		7,606		2,417		10,023		2,417
Specified items(a)	(2,513)		(2,547)		(5,060)		(2,546)		(7,606)		(2,417)		(10,023)		(2,417)
Amortization of acquired intangible assets excluding specified items	—		—		—		—		—		—		—		—
Other (income)/expense, net	(702)		(2)		(704)		(409)		(1,113)		393		(720)		649
Specified items(a)	685		(37)		648		324		972		(557)		415		(768)
Other (income)/expense, net excluding specified items	(17)		(39)		(56)		(85)		(141)		(164)		(305)		(119)

(a)    Refer to the Specified Items schedule for further details.

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF GAAP TO NON-GAAP EPS

(Unaudited, dollars and shares in millions except per share data)

	2021																					2022
	1st Qtr			2nd Qtr			6 Months			3rd Qtr			9 Months			4th Qtr			Year			1st Qtr			2nd Qtr	6 Months	3rd Qtr	9 Months	4th Qtr	Year
Earnings before income taxes	$	2,530		$	1,553		$	4,083		$	2,157		$	6,240		$	1,858		$	8,098		$	1,687
Specified items(a)	2,245			2,904			5,149			2,932			8,081			2,976			11,057			3,366
Earnings before income taxes excluding specified items	4,775			4,457			9,232			5,089			14,321			4,834			19,155			5,053
Provision/(Benefit) for income taxes	501			492			993			605			1,598			(514)			1,084			404
Income taxes on specified items(a)	303			292			595			137			732			261			993			398
Income taxes attributed to internal transfer of intangible assets(a)	—			—			—			—			—			983			983			—
Provision for income taxes excluding tax on specified items and income taxes attributed to internal transfer of intangible assets	804			784			1,588			742			2,330			730			3,060			802
Noncontrolling Interest	8			6			14			6			20			—			20			5
Specified items(a)	—			—			—			—			—			—			—			—
Noncontrolling Interest excluding specified items	8			6			14			6			20			—			20			5
Net Earnings attributable to BMS used for Diluted EPS Calculation - GAAP	2,021			1,055			3,076			1,546			4,622			2,372			6,994			1,278
Specified items(a)	1,942			2,612			4,554			2,795			7,349			1,732			9,081			2,968
Net Earnings attributable to BMS used for Diluted EPS Calculation excluding specified items - Non-GAAP	3,963			3,667			7,630			4,341			11,971			4,104			16,075			4,246
Weighted-average Common Shares Outstanding - Diluted-GAAP	2,265			2,252			2,258			2,243			2,253			2,219			2,245			2,164
Weighted-average Common Shares Outstanding - Diluted-Non-GAAP	2,265			2,252			2,258			2,243			2,253			2,219			2,245			2,164
Diluted Earnings Per Share - GAAP*	$	0.89		$	0.47		$	1.36		$	0.69		$	2.05		$	1.07		$	3.12		$	0.59
Diluted Earnings Per Share attributable to specified items(a)	0.85			1.16			2.02			1.24			3.26			0.78			4.04			1.37
Diluted Earnings Per Share - Non-GAAP*	$	1.74		$	1.63		$	3.38		$	1.93		$	5.31		$	1.85		$	7.16		$	1.96
Effective Tax Rate	19.8		%	31.7		%	24.3		%	28.0		%	25.6		%	(27.7)		%	13.4		%	23.9		%
Specified items(a)	(3.0)		%	(14.1)		%	(7.1)		%	(13.4)		%	(9.3)		%	42.8		%	2.6		%	(8.0)		%
Effective Tax Rate excluding specified items	16.8		%	17.6		%	17.2		%	14.6		%	16.3		%	15.1		%	16.0		%	15.9		%

*    Quarterly amounts may not add to the year-to-date amounts, as each period is computed on a discrete basis.

(a)    Refer to the Specified Items schedule for further details. Effective tax rate on the Specified Items represents the difference between the GAAP and Non-GAAP effective tax rate.

BRISTOL-MYERS SQUIBB COMPANY

SELECTED BALANCE SHEET INFORMATION

(Unaudited, dollars in millions)

	March 31,<br>2021		June 30,<br>2021		September 30,<br>2021		December 31,<br>2021		March 31,<br>2022		June 30,<br>2022	September 30,<br>2022	December 31,<br>2022
Cash and cash equivalents	$	10,982	$	11,024	$	13,540	$	13,979	$	12,369
Marketable debt securities - current	1,948		1,946		2,123		2,987		2,599
Marketable debt securities - non-current	288		143		46		—		—
Cash, cash equivalents and marketable debt securities	13,218		13,113		15,709		16,966		14,968
Short-term debt obligations	(1,777)		(2,655)		(5,065)		(4,948)		(7,522)
Long-term debt	(44,505)		(42,503)		(39,677)		(39,605)		(37,450)
Net debt position	$	(33,064)	$	(32,045)	$	(29,033)	$	(27,587)	$	(30,004)

BRISTOL-MYERS SQUIBB COMPANY

2022 FULL YEAR PROJECTED DILUTED EPS FROM OPERATIONS

EXCLUDING PROJECTED SPECIFIED ITEMS

	Full Year 2022
		Pre-tax		Tax		After-tax
Projected Diluted Earnings Attributable to Shareholders per Common Share - GAAP(a)							$2.92 to $3.22
Projected Specified Items:
Purchase price accounting adjustments(b)			4.54		0.50		4.04
Acquisition, restructuring and integration expenses(c)			0.25		0.06		0.19
Equity investment losses			0.30		0.03		0.27
Intangible asset impairment			0.02		—		0.02
Divestiture gains			(0.10)		(0.02)		(0.08)
Loss on debt redemption			0.13		0.03		0.10
Other			(0.02)		—		(0.02)
Total			5.12		0.60		4.52
Projected Diluted Earnings Attributable to Shareholders per Common Share - Non-GAAP(a)							$7.44 to $7.74

(a)    Net impact of ($0.21) from acquired IPRD and licensing income due to ($0.10) incurred in the first quarter of 2022 and an additional ($0.11) due to the buyout of a future royalty obligation related to mavacamten that occurred in April 2022. Excluding these adjustments, the outlook for non-GAAP EPS is unchanged.

(b)    Includes amortization of acquired intangible assets, unwind of inventory fair value adjustments and amortization of fair value adjustments of debt assumed from Celgene.

(c)    Includes acquisition-related restructuring and integration expenses recognized primarily in Other (income)/expense, net.

The following table summarizes the company's 2022 financial guidance:
Line item	GAAP	Non-GAAP
Total net sales	In-line with 2021	In-line with 2021
Recent LOE products(d)	Approximately $10.0 billion or double-digit decline	Approximately $10.0 billion or double-digit decline
Revlimid	$9.0-$9.5 billion	$9.0-$9.5 billion
In-line products & new product portfolio	Approximately $36.5 billion or low double-digit increase	Approximately $36.5 billion or low double-digit increase
Gross margin	Approximately 78%	Approximately 78%
Operating expenses(e)	Mid single-digit decline	Low single-digit decline
Effective tax rate	Approximately 22%	Approximately 16.5%

(d) Recent LOE products include Revlimid and Abraxane.

(e) Operating expenses consist of marketing, selling and administrative expenses and research and development expenses, excluding acquired IPRD expenses.

The GAAP financial results for the full year of 2022 will include specified items, including purchase price accounting adjustments, acquisition and integration expenses, charges associated with restructuring, downsizing and streamlining worldwide operations, impairment of intangible assets, divestiture gains or losses and equity investment (including fair value adjustments attributed to limited partnership equity method investments), among other items. The 2022 financial guidance excludes the impact of any potential future strategic acquisitions and divestitures and any specified items that have not yet been identified and quantified. For a fuller discussion of items that could impact full year GAAP results, as well as the use of non-GAAP financial information, see Bristol Myers Squibb Reports First Quarter Financial Results for 2022 on April 29, 2022, including “2022 Financial Guidance” and “Use of non-GAAP Financial Information” therein.

BRISTOL-MYERS SQUIBB COMPANY

USE OF NON-GAAP FINANCIAL INFORMATION

In discussing financial results and guidance, the company refers to financial measures that are not in accordance with U.S. Generally Accepted Accounting Principles (GAAP). The non-GAAP financial measures are provided as supplemental information to the financial measures presented in this supplementary information to the earnings release that are calculated and presented in accordance with GAAP and are presented because management has evaluated the company’s financial results both including and excluding the adjusted items or the effects of foreign currency translation, as applicable, and believes that the non-GAAP financial measures presented portray the results of the company’s baseline performance, supplement or enhance management, analysts and investors overall understanding of the company’s underlying financial performance and trends and facilitate comparisons among current, past and future periods. In addition, non-GAAP operating margin, which is operating income excluding certain specified items as a percentage of revenues, non-GAAP free cash flow, which is non-GAAP net earnings plus adjustments related to cash generated from operating activities and cash paid for capital expenditures, non-GAAP gross margin, which is gross profit excluding certain specified items as a percentage of revenues, non-GAAP marketing, selling and administrative expenses, which is marketing, selling and administrative expense excluding certain specified items, and non-GAAP research and development expenses, which is research and development expenses excluding certain specified items, are relevant and useful for investors because they allow investors to view performance in a manner similar to the method used by our management and make it easier for investors, analysts and peers to compare our operating performance to other companies in our industry and to compare our year-over-year results.

This supplementary information to the earnings release also provides certain revenues and expenses as well as non-GAAP measures excluding the impact of foreign exchange. We calculate foreign exchange impacts by converting our current-period local currency financial results using the prior period average currency rates and comparing these adjusted amounts to our current-period results.

Non-GAAP financial measures such as non-GAAP earnings and related EPS information are adjusted to exclude certain costs, expenses, gains and losses and other specified items that are evaluated on an individual basis after considering their quantitative and qualitative aspects and typically have one or more of the following characteristics, such as being highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not indicative of past or future operating results. These items are excluded from non-GAAP earnings and related EPS information because the company believes they neither relate to the ordinary course of the company’s business nor reflect the company’s underlying business performance. Similar charges or gains were recognized in prior periods and will likely reoccur in future periods, including amortization of acquired intangible assets, including product rights that generate a significant portion of our ongoing revenue and will recur until the intangible assets are fully amortized, unwind of inventory purchase price adjustments, acquisition and integration expenses, restructuring costs, accelerated depreciation and impairment of property, plant and equipment and intangible assets, divestiture gains or losses, stock compensation resulting from accelerated vesting of Celgene awards, certain retention-related employee compensation charges related to the Celgene transaction, pension, legal and other contractual settlement charges, equity investment and contingent value rights fair value adjustments (including fair value adjustments attributed to limited partnership equity method investments) and amortization of fair value adjustments of debt acquired from Celgene in our 2019 exchange offer, among other items. Certain other significant tax items are also excluded such as the impact resulting from internal transfers due to streamlining our legal entity structure subsequent to the Celgene acquisition. Deferred and current income taxes attributed to these items are also adjusted for considering their individual impact to the overall tax expense, deductibility and jurisdictional tax rates.

Beginning with the first quarter of 2022, significant R&D charges or other income resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights are no longer excluded from our non-GAAP financial measures. We are making these changes to our presentation of non-GAAP financial measures following comments from and discussions with the U.S. Securities and Exchange Commission. For purposes of comparability, the non-GAAP financial measures for each of the four quarters of 2021 and the year ended December 31, 2021 have been updated to reflect this change.

Because the non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered superior to and are not intended to be considered in isolation or as a substitute for the related financial measures presented in the press release that are prepared in accordance with GAAP and may not be the same as or comparable to similarly titled measures presented by other companies due to possible differences in method and in the items being adjusted. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.

Reconciliations of the non-GAAP financial measures to the most comparable GAAP measures are provided in the accompanying financial tables. Within the accompanying financial tables presented, certain columns and rows may not add due to the use of rounded numbers. Percentages and earnings per share amounts presented are calculated from the underlying amounts.

Also note that a reconciliation of the forward-looking free cash flow and operating margin are not provided due to the inherent difficulty in forecasting and quantifying items that are necessary for such reconciliation. Namely, we are not able to reliably predict the impact of specified items or currency exchange rates beyond the next twelve months. As a result, the reconciliation of these non-GAAP measures to the most directly comparable GAAP measures is not available without unreasonable effort. In addition, the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact on our future GAAP results.

12

q12022earningspresentati

Q1 2022 Results April 29, 2022

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Q1 2022 Results Not for Product Promotional Use Forward Looking Statement and Non-GAAP Financial Information 2 This presentation contains statements about the Company’s future plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated as a result of various important factors, including those discussed in the Company’s most recent annual report on Form 10-K and reports on Form 10-Q and Form 8-K. These documents are available on the SEC’s website, on the Bristol Myers Squibb website or from Bristol Myers Squibb Investor Relations. In addition, any forward-looking statements represent our estimates only as of the date hereof and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change. This presentation includes certain non-generally accepted accounting principles (GAAP) financial measures that we use to describe our company’s performance. The non-GAAP information presented provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures. Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies. We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. An explanation of these non-GAAP financial measures and a reconciliation to the most directly comparable GAAP financial measure are available on our website at bms.com/investors. Also note that a reconciliation of certain forward-looking non-GAAP financial measures, however, is not provided due to no reasonably accessible or reliable comparable GAAP measures for such statements and the inherent difficulty in forecasting and quantifying such measures that are necessary for such reconciliation. Namely, we are not able to reliably predict the impact of certain specified items or currency exchange rates beyond the next twelve months. As a result, the reconciliation of these non-GAAP measures to the most directly comparable GAAP measures is not available without unreasonable effort. In addition, the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact on our future GAAP results.

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Not for Product Promotional Use Q1 2022 Results Giovanni Caforio Board Chair and Chief Executive Officer 3

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Q1 2022 Results Not for Product Promotional Use Operational Performance Strong commercial execution • Q1 sales: ~$11.6B,+5% YoY, +7% ex-FX • Double-digit Non-GAAP EPS growth in Q1 • Strong growth for in-line products & continued momentum from New Product Portfolio Pipeline Execution Key milestones • 2 first-in-class new product approvals: Camzyos in oHCM & Opdualag in 1L melanoma • 7 additional approved indications1 & 3 clinical filings2 across therapeutic areas globally • Positive Ph2 for deucravacitinib in SLE; registrational program expected to initiate by end of 2022 • Initiated Opdualag 2L+ CRC study Financial Strength • Adjusting 2022 Full Year Guidance • Balance sheet strength & strong cash flow generation • ~$3.8B cash from operating activities • ~$15B total cash and marketable debt securities Q1 2022 Performance 41Approvals: U.S. – Opdivo in neo-adjuvant NSCLC (CM-816); EU - Breyanzi 3L+ LBCL, Opdivo+Yervoy in 1L ESCC (CM-648); Opdivo in adjuvant MIUC (CM-274) & 1L ESCC (CM-648); Japan – Opdivo in adjuvant MIUC (CM-274) & Abecma 3L+ MM 2Clinical filings – Breyanzi 2L LBCL in U.S. & Japan; Opdivo in neo-adjuvant NSCLC (CM-816) in EU

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Q1 2022 Results Not for Product Promotional Use 2022 Key Milestones Opdivo (+/- Yervoy) U.S./EU expected approvals:  1L ESCC (CM-648)  Neo-adj lung EFS (CM-816) (U.S.) Opdualag  1L melanoma U.S. approval  Initiation 2L+ CRC Ph3 bempeg  1L melanoma  1L renal  1L bladder Breyanzi  2L LBCL U.S. approval  3L+ LBCL EU approval Abecma  2L+ MM Ph2 (KarMMa-2) iberdomide  Initiation 2L+ MM Ph3 (EXCALIBER) CC-92480  4L+ MM Ph1/2 Portfolio Depth Provides Significant Near-term Catalysts 5Milestones represent data read-outs unless otherwise specified To be expanded to include regulatory milestones pending future registrational successes deucravacitinib  PsO U.S. approval  SLE Ph2 cendakimab  AD Ph2 Camzyos  oHCM U.S. approval  oHCM Ph3 (VALOR)  Initiation nHCM Ph3 milvexian  SSP Ph2 2023/2024 Key Milestones Opdivo (+/- Yervoy) Metastatic:  1L CRPC (CM-7DX)  1L HCC (CM-9DW) Early Stage:  Adj. HCC (CM-9DX)  Adj. RCC (CM-914)  Peri-adj lung (CM-77T)  Peri-adj MIBC (CM-078)  Adj. NSCLC (ANVIL, co- op group) Opdualag  1L melanoma EU approval  Initiation 1L lung Ph3  2L HCC Ph2 bempeg  Neo-adj. cis-ineligible MIBC Breyanzi  3L+ FL  3L+ CLL Abecma  3L+ MM Ph3 (KarMMa-3) alnuctamab BCMA TCE  Initiation of pivotal trial iberdomide  Initiation of Post transplant maintenance Ph3 H2H vs Rev  Initiation of NDMM Ph3 H2H vs. Rev CC-92480  Initiation triplet 2L+ MM Ph3 Reblozyl  1L MDS Ph3 (COMMANDS)  1L MF Ph3 (INDEPENDENCE) deucravacitinib  PsO EU approval  PsA Ph3  CD & DLE Ph2  UC Ph2 (IM011- 127) cendakimab  EoE Ph3 Zeposia  CD Ph3 Camzyos  HFpEF Ph2 (EMBARK)

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Q1 2022 Results Not for Product Promotional Use Two additional $4B+1 Medicines Now Approved 6 1NRA sales in 2029 NRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approval Deucravacitinib Three First-in-Class Opportunities Clinically meaningful PFS & OS First-in-class myosin inhibitor approved in U.S. in oHCM Potential first-in-class selective allosteric TYK-2 inhibitor First-in-class LAG-3 inhibitor, FDC with nivolumab approved in U.S. in 1L melanoma 3rd I-O agent approved Potential expansion in lung, liver, & colorectal cancers First novel option to treat underlying condition in oHCM Exciting VALOR Ph3 data at ACC 2022 Future opportunities to expand indications (e.g. nHCM) U.S. PDUFA September 10th Phase 3 in PsA ongoing; achieved PoC in SLE with registrational trial start expected end of 2022 Superior efficacy to current oral SOC in mod-severe psoriasis; favorable safety & tolerability profile Oral of choice profile in psoriasis U.S. Approval April 28thU.S. Approval March 18th

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Q1 2022 Results Not for Product Promotional Use Driving Growth Through the Decade 7 ($12B – $14B) +$8B – $10B +$10B – $13B 2020 Revenues Key LOE Products In-Line Products Primarily I-O & Eliquis 2025 Revenues New Product Portfolio Growth 2020 - 2025 Growth 2025 - 2029 2025 Revenues 2029 Revenues LOE Products Primarily Eliquis & Opdivo Additional growth from New Product Portfolio Advancing Robust Pipeline Additional Optionality from Disciplined Business Development Maintain low to mid 40s operating margin** Key LOE Products = Revlimid, Abraxane, Sprycel, and Pomalyst Financial projections may contain non promoted sales, BMS promotes only according to label *At constant exchange rates on a risk-adjusted basis; **Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this forward-looking information Continuing Business Growth Low to mid-single digit revenue CAGR*

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Not for Product Promotional Use David Elkins Chief Financial Officer 8 Q1 2022 Results

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Q1 2022 Results Not for Product Promotional Use Strong Total Company Performance 9 Total Company +$0.6B, +5% YoY, +7% Ex-FX $7.8 $8.6 $3.3 $3.0 Q1 21 Q1 22 Recent LOEs In-Line & New Products $B Net Sales YoY % Ex-FX Total Company $11.6 5% 7% In-Line Products $8.3 8% 11% New Product Portfolio $0.4 * * In-Line Products & New Product Portfolio $8.6 11% 13% Recent LOEs $3.0 (8%) (6%) * In excess of +100%

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Q1 2022 Results Not for Product Promotional Use New Product Portfolio Sales Performance 10 Contributed $350M in Q1’22; more than doubled vs PY Anticipated approval of deucravacitinib PDUFA: September 10, 2022 $112 $156 $67 $18 $36 $44 $15 $23 $16 $18 $161 $350 Q1 2021 Q1 2022 Q1 2022 vs Q1 2021 Global Net Sales $M Reblozyl Abecma Zeposia Breyanzi Onureg Inrebic Opdualag Strong outlook for future growth Recent Approvals

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Q1 2022 Results Not for Product Promotional Use 11 Q1 2022 Solid Tumor product summary Opdivo • U.S. growth driven by demand in 1L lung, 1L renal, 1L gastric, adj. esophageal & adj. bladder cancer • Ex-U.S. growth from new launches in multiple geographies • Continued growth expected from current & new indications Opdualag (launched in U.S. March 18, 2022) • 3rd approved I-O agent • $3M inventory build in Q1 2022 • Potential to be new SOC in 1L melanoma Key Commentary $M YoY % Ex-Fx $1,923 +12% +15% $515 +13% +16% $214 (32%) (31%) $6 --- --- Q1 Global Net Sales

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Q1 2022 Results Not for Product Promotional Use 12 Q1 2022 Cardiovascular product summary • Continues to be the best-in-class medicine in an expanding category • Strong underlying demand in U.S., ~10% TRx growth • Continues to be #1 NOAC in key international markets Key Commentary $M YoY % Ex-Fx $3,211 +11% +14% Q1 Global Net Sales U.S. approval April 28, 2022 • First-in-class myosin inhibitor indicated for NYHA class II & III symptomatic oHCM • Significant clinical, functional and QoL benefits • Dosing & monitoring aligns to HCM clinical practice & patient management • Leverages strong CV leadership, relationships & capabilities • Initial focus on top HCM centers Key Commentary

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Q1 2022 Results Not for Product Promotional Use 13 Q1 2022 Hematology product summary Revlimid – Impacted by generic entry • Expect Q2’22 Revenues of ~$2B & FY’22 of $9 - $9.5B Pomalyst – Increased demand as patients move into earlier lines and extend treatment duration Reblozyl • Strong demand in the U.S.; encouraging trends reducing time from ESA failures & increasing dose; remain focused on patient identification & dosing education to extend duration & benefit to patients • Expansion in international markets based on reimbursement timing Abecma – Continued strong demand; on track for expanded capacity in mid-2022 Breyanzi - Growing demand from best-in-class profile; planning for U.S. PDUFA in 2L LBCL - June 24, 2022 Key Commentary 1 $M YoY % Ex-Fx $2,797 (5%) (4%) $826 +7% +9% $483 +3% +6% $156 +39% +41% $75 (12%) (9%) $67 --- --- $44 --- --- $23 +53% +55% $18 +13% +14% Q1 Global Net Sales

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Q1 2022 Results Not for Product Promotional Use 14 Q1 2022 Immunology product summary Orencia • Continued growth in U.S. due to higher demand & expanded market share Zeposia • Sales increased due to higher demand including expansion into UC • Encouraging leading indicators in UC: Increased trialists & higher new patient starts • Expect UC to further contribute in 2H 2022 with expansion in 2023 Key Commentary $M YoY % Ex-Fx $792 +4% +6% $36 +100% * Q1 Global Net Sales Deucravacitinib Anticipated U.S. approval September 10, 2022 * In excess of +100%

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Q1 2022 Results Not for Product Promotional Use US GAAP Non-GAAP $ in billions, except EPS Q1 2022 Q1 2021 Q1 2022 Q1 2021 Total Revenues, net 11.6 11.1 11.6 11.1 Gross Margin % 78.8% 74.3% 79.2% 78.1% Operating Expenses1 (4.1) (3.9) (4.0) (3.9) Effective Tax Rate 23.9% 19.8% 15.9% 16.8% Diluted EPS 0.59 0.89 1.96 1.74 Diluted Shares Outstanding (# in millions) 2,164 2,265 2,164 2,265 Q1 2022 Financial Performance 15 US P No - AAP $ in millions, except EPS Acquired IPR&D and Licensing Income, Net (280) (10) (280) (10) Diluted EPS Impact (0.10) - (0.10) - 1 Operating Expenses = MS&A and R&D; does not include Acquired IPR&D and Amortization of acquired intangibles

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Q1 2022 Results Not for Product Promotional Use Balanced Approach to Capital Allocation 16 *Cash includes cash, cash equivalents and marketable debt securities **Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this non-GAAP forward-looking information ***Subject to Board approval $B Q1 2022 Total Cash* ~$15B Total Debt ~$45B • Prioritize small & mid-sized bolt-on opportunities • Replenish & diversify portfolio • Continued debt reduction; ~$12B in maturities from 2022-2024 • Maintain strong investment-grade credit rating Business Development Debt Reduction Returning Cash to Shareholders • Continued dividend growth*** ‒ 13th consecutive dividend increase announced Dec ’21 • Opportunistic share repurchase ‒ $5B ASR agreement executed in Q1’22; 85% settled upon execution; remainder to be settled in Q2/Q3$45B - $50B in free cash flow** 2022 - 2024 $3.8 $3.1 $5.3 $4.1 $3.8 Cash flow from Operations $B Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022

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Q1 2022 Results Not for Product Promotional Use February (prior) April (Revised) February (prior) April (Revised) Commentary Total net Sales ~$47B or low single-digit increase In-line with 2021 ~$47B or low single-digit increase In-line with 2021 FX impact & lower ex-US Revlimid sales Recent LOE Products1 ~$10.5B or double-digit decline ~$10B or double-digit decline ~$10.5B or double-digit decline ~$10B or double-digit decline Lower ex-US Revlimid sales Revlimid $9.5 - $10B $9 - $9.5B $9.5 - $10B $9 - $9.5B In-line Products & New Product Portfolio ~$36.5B or low double-digit increase No Change ~$36.5B or low double-digit increase No Change Gross Margin % ~78% No Change ~78% No Change Operating Expenses2 Approx. 10% decline Mid single-digit decline In-line with 2021 Low single-digit decline FX & cost discipline Tax Rate ~24% ~22% ~16.5% No Change Diluted EPS $3.37 - $3.67 $2.92 - $3.22 $7.65 - $7.95 $7.44 - $7.74 Includes net impact of ($0.21) from Acquired IPRD & licensing income3 2022 Guidance 17 US GAAP Non-GAAP 1Key LOE Products = Revlimid & Abraxane 2Operating Expenses = MS&A and R&D; does not include Acquired IPR&D and amortization of acquired intangibles 3Comprises the net impact of ($0.10) from Acquired IPRD & licensing income incurred in Q1 2022 and an additional ($0.11) due to the buyout of future royalty obligation related to mavacamten that occurred in April 2022. Does not include estimate of Acquired IPRD & licensing income for remainder of 2022

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Q1 2022 Results Not for Product Promotional Use Q&A Giovanni Caforio, M.D. Board Chair, Chief Executive Officer David Elkins Executive VP, Chief Financial Officer 18 Chris Boerner, Ph.D. Executive VP, Chief Commercialization Officer Samit Hirawat, M.D. Executive VP, Chief Medical Officer, Global Drug Development

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Q1 2022 Results Not for Product Promotional Use Q1 2022 Opdivo Sales Mix 19 23% 24% 26% 11% 17% U.S. Sales Mix Note: percentages are approximate 30% 21% 23% 4% 23% Ex-U.S. Sales Mix

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Q1 2022 Results Not for Product Promotional Use Q1 2022 Eliquis NBRx/TRx Share 20Rx Source: Symphony Health 54% 57% 20% 17% 26% 26% Q1 2021 Q1 2022 TRx Share - US Other NOACsWarfarinEliquis 63% 61% 12% 10% 25% 29% Q1 2021 Q1 2022 NBRx Share – US

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Q1 2022 Results Not for Product Promotional Use 2022 Key News Flow 21 Asset Timing Opdivo Approval in 1L ESCC (CM-648) U.S. PDUFA - May 28, 2022 Approved in EU Opdivo Approval in Neo-Adj. Lung EFS (CM-816) Approved in U.S. MAA under review Opdualag Approval in 1L Melanoma (RELATIVITY-047) Approved in U.S. MAA under review Bempegaldesleukin 1L Melanoma/Adjuvant Melanoma 1L Renal Cell Carcinoma (RCC) 1L Muscle Invasive Urothelial Carcinoma Program discontinued Breyanzi Approval in 3L+ LBCL Approved in U.S. & EU Breyanzi Approval in 2L LBCL U.S. PDUFA – June 24, 2022 Asset Timing deucravacitinib Approval in mod to severe PsO POETYK PSO-1 & PSO-2 U.S. PDUFA – September 10, 2022 MAA under review deucravacitinib Ph2 in Systemic Lupus Erythematosus (PAISLEY) Positive POC Registration program to initiate end of 2022 Camzyos Approval in symptomatic obstructive HCM (EXPLORER-HCM) Approved in U.S. MAA under review Camzyos Ph3 in obstructive HCM NYHA Class III & IV (VALOR) Positive Topline February 2022 milvexian (FXIa inhib.) Ph 2 in SSP (+TKR in VTEp to inform Ph3) Expect data in-house mid 2022

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Not for product promotional use Hematology Fibrosis HSP47 LPA1 Antagonist Immunology Oncology Anti-Fucosyl GM1 TIGIT Bispecific Anti-NKG2A Anti-SIRPα1 AR LDD Anti-CTLA-4 NF Anti-CCR8 Anti-CTLA-4 Probody alnuctamab BCMA TCE CD3xPSCA (Avencell)2 IL-12 Fc Anti-IL-8 Anti-TIGIT BET Inhibitor (BMS-986158) CD19 NEX T BCMA ADC TGFβ Inhibitor iberdomide 1 - In development for solid tumors and hematology 2 - BMS has an exclusive option to license and/or option to acquire MK2 Inhibitor Anti-CD40 IL2-CD25 cendakimab branebrutinib deucravacitinib Cardiovascular FA-RelaxinFXIa Inhibitor 22 Phase 1 Phase 2 Phase 3 Marketed A/I CELMoD (CC-92480) GSPT1 CELMoD (CC-90009) BET Inhibitor1 (CC-90010) CD33 NKE CD47xCD20 Neuroscience Anti-Tau (Prothena)2 AHR Antagonist (Ikena)2 S1PR1 Modulator afimetoran (TLR 7/8 Inhibitor) NME Active Clinical Development Portfolio STING Agonist danicamtiv BCMA NEX T Cardiac Myosin Inhibitor milvexian (FXIa Inhibitor) TYK2 Inhibitor GPRC5D CAR T Anti-CTLA-4 NF- Probody CK1α CELMoD ROMK Inhibitor BTK Inhibitor BCMA NKE ROR1 CAR T FAAH/MGLL Dual Inhibitor Subcutaneous nivolumab eIF2b Activator MAGE A4/8 TCE Data as of Apr 22nd, 2022 A/I CELMoD (CC-99282) farletuzumab ecteribulin LSD1 Inhibitor Anti-ILT4

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Q1 2022 Results Not for Product Promotional Use Our Commitment as a sustainable organization Embracing environmental stewardship 23 • Experienced & diverse Board ― Board oversight of strategy & key enterprise risks ― 60% female & ethnically diverse directors • Shareholder rights ― Regular shareholder engagement ― Proxy access ― Special meeting right (15%) Environment GovernanceSocial K e y P ri o ri ti e s C o n c re te C o m m it m e n ts 2021 • ≥ 25% new clinical trial sites in diverse metro areas 2022 • Gender parity at executive level • 2X representation for Black/African American & Hispanic/Latino executives 2025 • $1B spend with diverse suppliers 2024 • Science-based emissions reduction targets established 2030 • 100% renewable electricity 2040 • Net neutral GHG • 100% EV fleet • 100% equitable water use • Zero waste to landfill Maintaining highest ethics, integrity & compliance Upholding Board oversight & accountability Promoting product quality & safety Cultivating diversity, equity & inclusion Ensuring health equity, patient access & innovation

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