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ROBERT A. BRADWAY, CHAIRMAN AND CHIEF EXECUTIVE OFFICER January 13, 2025 43rd ANNUAL J.P. MORGAN HEALTHCARE CONFERENCE
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2 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. SAFE HARBOR STATEMENT This presentation contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd. or Kyowa Kirin Co., Ltd.), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), our acquisitions of Teneobio, Inc., ChemoCentryx, Inc., or Horizon Therapeutics plc (including the prospective performance and outlook of Horizon’s business, performance and opportunities, any potential strategic benefits, synergies or opportunities expected as a result of such acquisition, and any projected impacts from the Horizon acquisition on our acquisition-related expenses going forward), as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems on our business, outcomes, progress, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this presentation and does not undertake any obligation to update any forward- looking statements contained in this document as a result of new information, future events or otherwise. No forward-looking statement can be guaranteed, and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities . We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities . If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. There can be no guarantee that we will be able to realize any of the strategic benefits, synergies or opportunities arising from the Horizon acquisition, and such benefits, synergies or opportunities may take longer to realize than expected. We may not be able to successfully integrate Horizon, and such integration may take longer, be more difficult or cost more than expected. A breakdown, cyberattack or information security breach of our information technology systems could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Our business and operations may be negatively affected by the failure, or perceived failure, of achieving our environmental, social and governance objectives. The effects of global climate change and related natural disasters could negatively affect our business and operations. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all. This presentation includes GAAP and non-GAAP financial measures. In accordance with the requirements of SEC Regulation G, reconciliations between these two measures, if these slides are in hard copy, accompany the hard copy presentation or, if these slides are delivered electronically, are available on the Company's website at www.amgen.com within the Investors section.
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3 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. WE ARE FOCUSED ON SERIOUS DISEASES... RARE DISEASEGENERAL MEDICINE • Obesity and Obesity-related Conditions • Heart Attack • Osteoporosis • Migraine • Chronic Kidney Disease • Chronic Heart Failure • Secondary Hyperparathyroidism • Stroke • Acute Lymphoblastic Leukemia • Non-small Cell Lung Cancer • Immune Thrombocytopenia • Non-Hodgkin’s Lymphoma • Adjuvant Breast Cancer • Colorectal Cancer • Multiple Myeloma • Melanoma •Thyroid Eye Disease •Uncontrolled Gout •Neuromyelitis Optica Spectrum Disorder •ANCA-associated Vasculitis •Severe Malignant Osteopetrosis •Chronic Granulomatous Disease •Urea Cycle Disorders •Nephropathic Cystinosis •Rheumatoid Arthritis •Severe Asthma •Plaque Psoriasis •Psoriatic Arthritis •Active Ankylosing Spondylitis •Behçet’s Disease •Crohn’s Disease •Neovascular (Wet) Age-Related Macular Degeneration INFLAMMATIONONCOLOGY
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4 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. ...WITH A NUMBER OF IMPORTANT MEDICINES RARE DISEASE INFLAMMATION GENERAL MEDICINE ONCOLOGY
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5 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. OUR STRATEGY HAS DELIVERED CONSISTENT LONG-TERM GROWTH FOR OVER A DECADE 1. Non-GAAP EPS as originally reported. 2. Based on FY’24 Guidance provided on 30 October 2024. 3. Based on first nine months of 2024 compared to the same period in 2023. 4. Annualized run rate of >$1 billion based on Q3 2024 sales. For non-GAAP financial measures—if this slide is in hard copy, see reconciliations accompanying the presentation, or if this slide is delivered electronically, or amounts pertain to previously issued financial guidance, see reconciliations available at: www.amgen.com within the Investors section. Accelerated performance in 2024 22% revenue growth3,13% Non-GAAP operating income growth3, and 6% dividend growth3 14 products with annualized run rate of >$1 billion4 Advanced key innovative pipeline programs with two approvals, five successful Phase 3 readouts, and positive MariTide Phase 2 results Strengthened biosimilars portfolio with 7% sales growth3, PAVBLU launch, BKEMV approval, and two additional molecules added $20 $8.70 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024E Revenues (USD billions) Non-GAAP EPS (USD) $33.0B to $33.8B2 $19.20 to $20.002 11
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6 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. WE ARE POISED TO DELIVER STRONG GROWTH IN THE NEAR-TERM, THROUGH 2030, AND BEYOND Driving growth through innovative in -line products in areas of significant unmet need • Repatha® positioned for accelerated growth to address heart disease • EVENITY® market leading bone building therapy addressing significant unmet need • Rare Disease portfolio with four leading novel products early in their lifecycles • TEZSPIRE® best-in-class therapy pursuing further penetration in severe asthma and important new indications • Innovative Oncology portfolio including industry-leading BiTE® platform Advancing a pipeline of first-in-class and transformative therapies • Meaningful catalysts in 2025 across all four therapeutic areas • Expect MariTide’s differentiated profile to deliver meaningful outcomes for patients Industry-leading biosimilars business, on track to more than double 2021 sales by the end of the decade to >$4B
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7 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. BROAD BASED GROWTH POTENTIAL ACROSS ALL FOUR OF OUR THERAPEUTIC AREAS ONCOLOGYRARE DISEASE INFLAMMATIONGENERAL MEDICINE Marketed Products Innovative Pipeline Biosimilars
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DRIVING GROWTH THROUGH INNOVATIVE IN-LINE PRODUCTS
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9 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. 0.9 1.1 1.3 1.6 ‘20 ‘21 ‘22 ‘23 ’24E >2.0 REPATHA® IS ANNUALIZING AT WELL OVER $2B1 AND POSITIONED FOR ACCELERATED GROWTH THROUGHOUT THE DECADE GENERAL MEDICINE: KEY MARKETED PRODUCTS • Enormous unmet need with >100 million patients2 still requiring effective treatment • Expanding utilization in primary care to drive growth • Potential primary prevention indication would expand patient impact Repatha® Sales ($USD Billions) 1 1. Annualized sales based on Q3 2024 2. Data on File; Amgen, 2020
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10 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. EVENITY® IS TRANSFORMING CARE FOR POSTMENOPAUSAL WOMEN AT HIGH RISK FOR FRACTURE GENERAL MEDICINE: KEY MARKETED PRODUCTS • Enormous unmet need with more than ~2 million patients in the U.S. with very high risk of fracture requiring treatment1 • Single digit penetration in the U.S. highlights growth opportunity • EVENITY® is highly effective as the only bone builder to increase bone formation and decrease bone resorption EVENITY® Sales ($USD Billions) ‘20 ‘21 ‘22 ‘23 ’24E 0.4 0.5 0.8 1.2 1. Data on File; Amgen, 2024 EVENITY® is developed and commercialized in collaboration with UCB globally, as well as our collaboration partner Astellas in Japan.
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11 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. RARE DISEASE BUSINESS GROWING RAPIDLY RARE DISEASE: KEY MARKETED PRODUCTS First and only thyroid eye disease treatment International expansion underway including Japan, soon to be followed by major European countries First and only uncontrolled gout treatment Extending the utility of KRYSTEXXA® through product enhancements #1 prescribed FDA- approved biologic in neuromyelitis optica spectrum disorder Growth driven by unique clinical profile and international expansion Only complement inhibitor for ANCA- associated vasculitis Growth driven by >50% year-over-year increase1 in prescriber base 1. As of Q3 2024. FDA = U.S. Food and Drug Administration; ANCA = antineutrophil cytoplasmic antibody. Biologic molecule Biologic molecule Biologic molecule Small molecule
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12 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. TEZSPIRE® IS GROWING RAPIDLY BASED ON EFFICACY PROFILE AND UNMET NEED INFLAMMATION: KEY MARKETED PRODUCTS & INNOVATIVE PIPELINE PROGRAMS 1. For the first nine months of 2024. BEC = blood eosinophil count TEZSPIRE® is being developed in collaboration with AstraZeneca. TEZSPIRE® grew 73% year- over-year1 in severe asthma by: Expanding rapidly based on unique differentiated profile for patients with severe asthma Chronic obstructive pulmonary disease (COPD) Encouraging Phase 2 data in a broad patient population Planning to initiate Phase 3 studies in H1 2025, in patients with moderate to very severe COPD and a BEC ≥ 150 cells/μl or greater Chronic rhinosinusitis with nasal polyps Regulatory filing underway based on positive Phase 3 data Eosinophilic esophagitis Phase 3 study enrolling patients
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ADVANCING A PIPELINE OF FIRST-IN-CLASS AND TRANSFORMATIVE THERAPIES
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14 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. PHASE 2 RESULTS HIGHLIGHT MARITIDE’S DIFFERENTIATED AND COMPETITIVE PROFILE 1. Following dose escalation; HbA1C = hemoglobin A1c; GI = gastrointestinal. No weight loss plateau at 52 weeks • Up to ~20% weight loss at 52 weeks in patients living with obesity • Up to ~17% weight loss at 52 weeks in patients living with obesity and Type 2 diabetes Potential for monthly or less frequent dosing, being further evaluated in Part 2 of the Phase 2 study 2.2 percentage point reduction Significant improvement GI side effects generally limited to first dose, mild, and transient Monthly or less frequent1 Weight Loss Cardiometabolic Parameters HbA1c Dosing Frequency Tolerability Weight Maintenance
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15 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. WE EXPECT MARITIDE TO ADDRESS IMPORTANT UNMET NEEDS • Significant weight loss and improvement in cardiometabolic parameters • Simple for patients to achieve target dose and stay on therapy • Potential for patients to maintain weight loss with monthly or less frequent dosing (“area under the curve”) • Track record of reliable supply Potential new treatment option for the ~1 billion people living with obesity
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16 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. OLPASIRAN IS A POTENTIALLY BEST-IN-CLASS MOLECULE TARGETING Lp(a) • First-in-class small interfering RNA molecule targeting Lp(a) • Roughly 20% of individuals have elevated Lp(a) • Once every 12-week dosing • In Phase 2: ◦ Olpasiran, reduced Lp(a) concentration by more than 95% in patients with established atherosclerotic cardiovascular disease ◦ Olpasiran was safe and well tolerated • Phase 3 program rapidly advancing ◦ Phase 3 cardiovascular outcomes trial in cardiovascular patients with high levels of Lp(a) fully enrolled ◦ Planning to initiate a Phase 3 study in primary prevention in H 2 2025 GENERAL MEDICINE: INNOVATIVE PIPELINE PROGRAMS RNA = ribonucleic acid; Lp(a) = lipoprotein (a).
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17 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. UPLIZNA® IS TRANSFORMING RARE DISEASE CARE WITH ITS DIFFERENTIATED PROFILE UPLIZNA® has a Unique and Differentiated Profile • CD19 depleting with potential for broad utilization • Convenient twice-yearly dosing • Steroid taper to reduce steroid burden and toxicity • Established safety and tolerability profile in neuromyelitis optica spectrum disorder RARE DISEASE: KEY MARKETED PRODUCTS & INNOVATIVE PIPELINE PROGRAMS IgG4 Related Disease (RD) U.S. Prevalence ~20K • 87% reduction in IgG4-RD flare risk at 52 weeks • U.S. Breakthrough Therapy designation with a PDUFA date of April 3, 2025 CD19 = Cluster of Differentiation 19; IgG4 = Immunoglobulin G4; PDUFA = Prescription Drug User Fee Act; AChR+ = acetylcholine receptor autoantibody positive; MuSK+ = Muscle-specific tyrosine-kinase-antibody positive. Generalized Myasthenia Gravis U.S. Prevalence ~80–100K • Significant benefit in both AChR+ and MuSK+ cohorts • Assessment of additional efficacy, durability of response and safety ongoing • Granted orphan drug designation in the U.S.
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18 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. POSITIONED TO LEAD THE FIELD OF B-CELL DEPLETION IN AUTOIMMUNE DISEASE INFLAMMATION: INNOVATIVE PIPELINE PROGRAMS BLINCYTO® / blinatumomab: CD19 targeting bispecific • Promising initial data in refractory rheumatoid arthritis • Phase 2 in systemic lupus erythematosus (SLE) with nephritis UPLIZNA® / inebilizumab: CD19 targeting monoclonal antibody • Phase 2 in systemic lupus erythematosus (SLE) with nephritis Additional molecules and indications expected CD19 = Cluster of Differentiation 19
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19 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. ONCOLOGY PIPELINE FOCUSED ON DIFFERENTIATED THERAPIES, AND LARGE EFFECT SIZE ONCOLOGY: INNOVATIVE PIPELINE PROGRAMS IMDELLTRA Phase 3 studies underway in early-stage small cell lung cancer AMG 193 Exploring potential in multiple tumor types BLINCYTO® Significant survival benefit in frontline1 B-ALL. Subcutaneous blinatumomab in late-stage development LUMAKRAS® advancing Phase 3 studies in first-line non-small cell lung cancer and first-line colorectal cancer Xaluritamig rapidly enrolling Phase 3 and moving into earlier stages of prostate cancer Bemarituzumab Phase 3 studies in first-line gastric cancer fully enrolled with data readouts in 2025 B-ALL = B-cell precursor acute lymphoblastic leukemia. Xaluritamig, formerly AMG 509, is being developed pursuant to a research collaboration with Xencor, Inc. 1. Frontline consolidation for adult and adolescent/young adult B-ALL patients, regardless of minimal residual disease status, age, or Philadelphia-chromosome status as well as ECOG 1910 as a frontline regimen. Leading Bispecific Platform Novel Targeted Therapies
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INDUSTRY-LEADING BIOSIMILARS BUSINESS
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21 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. INDUSTRY-LEADING BIOSIMILARS BUSINESS REMAINS ON TRACK TO DOUBLE 2021 SALES BY 2030 TO >$4B OPDIVO® is a registered trademark of Bristol-Myers Squibb Company; KEYTRUDA® is a registered trademark of Merck & Co.; OCREVUS® is a registered trademark of Genentech, Inc.. 21 Confidential Government and Public Relations RARE DISEASE INFLAMMATION ONCOLOGY U.S. launches of PAVBLU and WEZLANA are underway Phase 3 trials are underway for next three investigational biosimilars (OPDIVO®, KEYTRUDA®, OCREVUS®) Ready to launch BKEMV in Q2’25 in U.S. Amgen biosimilars have generated ~$10B 1 of cumulative sales with attractive returns 1. Through Q3 2024. Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. Advancing next wave of opportunities
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22 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. IMPORTANT PIPELINE MILESTONES ANTICIPATED IN 2025 GENERAL MEDICINE RARE DISEASE INFLAMMATION ONCOLOGY • Japan launch in TED H1 2025 • EU regulatory approval in TED H2 2025 TEPEZZA® UPLIZNA® • PDUFA date in IgG4-related disease 3 Apr 2025 • Regulatory filing in generalized myasthenia gravis H1 2025 BKEMV (SOLIRIS® biosimilar) • U.S. Launch Q2 2025 IMDELLTRA • Phase 3 study data readout in 2L small cell lung cancer H1 2025 Bemarituzumab • FORTITUDE-101 Doublet Phase 3 study data readout in 1L gastric and GEJ cancer H1 2025 • FORTITUDE-102 Triplet Phase 3 study data readout in 1L gastric and GEJ H2 2025 BLINCYTO® • Phase 2 study initiation in subcutaneous administration H 2 2025 LUMAKRAS® (+ Vectibix®) • PDUFA date in KRAS G12c mutated metastatic colorectal cancer 17 Jan 2025 TEZSPIRE® • Regulatory submission in CRSwNP H1 2025 • Phase 3 study initiation in COPD H1 2025 Rocatinlimab • ROCKET Phase 3 program milestones in atopic dermatitis o SHUTTLE H1 2025 o IGNITE H1 2025 o ASCEND H2 2025 o ASTRO H2 2025 WEZLANA (STELARA® biosimilar) • U.S. Launch Q1 2025 ABP 205 (OPDIVO® biosimilar) • Phase 3 study data readout H2 2025 • MARITIME Phase 3 study initiation(s) H 1 2025 to H2 2025 • Phase 2 study data readout in Type 2 diabetes H2 2025 • Phase 2 Part 2 data readout H2 2025 MariTide Repatha® • VESALIUS-CV Phase 3 study data readout H2 2025 Olpasiran • Phase 3 primary prevention study initiation H 2 2025 TED = thyroid eye disease; PDUFA = Prescription Drug User Fee Act; IgG4 = Immunoglobulin G4; CRSwNP = chronic rhinosinusitis with nasal polyps; COPD = chronic obstructive pulmonary disease; 2L = second-line; 1L = first-line; GEJ = gastroesophageal junction; KRAS = Kirsten Rat Sarcoma. Xaluritamig, formerly AMG 509, is being developed pursuant to a research collaboration with Xencor, Inc.. TEZSPIRE® is being developed in collaboration with AstraZeneca. Rocatinlimab, formerly AMG 451/KHK4083, is being developed in collaboration with Kyowa Kirin. OPDIVO ® is a registered trademark of Bristol-Myers Squibb Company. STELARA® is a registered trademark of Johnson & Johnson. SOLIRIS® is a registered trademark of Alexion Pharmaceuticals, Inc.
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23 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. WE ARE POISED TO DELIVER STRONG GROWTH IN THE NEAR-TERM, THROUGH 2030, AND BEYOND Driving growth through innovative in -line products in areas of significant unmet need • Repatha® positioned for accelerated growth to address heart disease • EVENITY® market leading bone building therapy addressing significant unmet need • Rare Disease portfolio with four leading novel products early in their lifecycles • TEZSPIRE® best-in-class therapy pursuing further penetration in severe asthma and important new indications • Innovative Oncology portfolio including industry-leading BiTE® platform Advancing a pipeline of first-in-class and transformative therapies • Meaningful catalysts in 2025 across all four therapeutic areas • Expect MariTide’s differentiated profile to deliver meaningful outcomes for patients Industry-leading biosimilars business, on track to more than double 2021 sales by the end of the decade to >$4B
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24 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. GAAP to Non-GAAP Reconciliations
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25 Provided January 13, 2025, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update. Amgen Inc. GAAP to Non-GAAP Reconciliations (Dollars In millions) (Unaudited) Amgen Inc. Reconciliation of GAAP EPS Guidance to Non-GAAP EPS Guidance for the Year Ending December 31, 2024 (Unaudited) GAAP diluted EPS guidance $ 8.71 — $ 9.56 Known adjustments to arrive at non-GAAP*: Acquisition-related expenses (a) 11.33 — 11.38 Net gains from equity investments (1.01) Other 0.12 Non-GAAP diluted EPS guidance $ 19.20 — $ 20.00 * The known adjustments are presented net of their related tax impact, which amount to approximately $ 2.39 per share. (a) The adjustments primarily include noncash amortization of intangible assets and fair value step-up of inventory acquired in business acquisitions. Our GAAP diluted EPS guidance does not include the effect of GAAP adjustments triggered by events that may occur subsequent to this press release such as acquisitions, asset impairments, litigation, changes in fair value of our contingent consideration obligations and changes in fair value of our equity investments.