2023
ImpactReportIntroduction

GovernanceIn thisReportEnvironment

SocialIntroduction

04 - A Letter from Our Chairman & CEO
05 - A Message from Our Lead Independent Director
06 - 2023 Progress and Highlights
07 - Our Approach to ESG
08 - ESG Priorities
09 - Our Stakeholders
10 - Spotlight Stories

Governance

13 - Governance of ESG
14 - Ethics, Transparency, Quality
23 - Accountability

Environment

26 - Climate Change
29 - Sustainable Medicines

Social32 - Innovation and Global Health34 - Equitable Access and Pricing
38 - Our People

ESG Performance44 - Governance
45 - Environment
47 - Social

Appendix

55 - Global Reporting Initiative (GRI) Index
71 - Sustainable Accounting Standards Board (SASB) Index
76 - Task Force on Climate-Related Financial Disclosures (TCFD)
82 - About This Report

Where to find more information

2023 Annual Documents
2023 Annual Review
2023 Annual Report on Form 10-K
20242023
Proxy
Statement
PfizerImpactReport2

ESG Performance

AppendixIntroduction

GovernanceIntroduction

Pfizer 2023 Impact Report

Environment

SocialESG Performance

Appendix

Pfizer is a global biopharmaceutical company focused on
advancing our Purpose—breakthroughs that change patients’
lives. It’s our ambition to change a billion lives a year by 2027.
Our Purpose Blueprint guides our strategy, and our core
Values—Courage, Excellence, Equity, and Joy—guide ourdecision-making and how we do business. This report provides
an overview of Pfizer’s Environmental, Social and Governance(ESG) priorities and goals, aimed at contributing to long-termvalue creation and a sustainable, responsible, and patientcentric business model aligned to our Purpose. The updates
included cover the fiscal year from January 1, 2023 to December
31, 2023. For more information, please see About This Report on
page 82.

3

Introduction

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A Letter from Our Chairman & CEO

Dr. Albert Bourla

Pfizer Chairman & Chief Executive Officer

Pfizer 2023 Impact Report

As Pfizer embarks on our 175th year of operations as oneof the world’s most trusted and innovative healthcarecompanies, we are determined to outdo yesterday byremaining committed not only to advancing our Purpose,but to being a good corporate citizen.
I am proud to present Pfizer’s 2023 Impact Report. It
reflects our dedication to being a force for good in theworld by acting with integrity, holding ourselves to highstandards, being accountable to our commitments, andaddressing shortcomings candidly and with specificplans for improvement. We are mindful of the impact
a company of our size and scale has on the planet andare working hard to be sure it is a positive one in every
respect.
In working to create a more sustainable future for all,we recognize that we are operating in an ever-changing
world, and that our stakeholders expect us to step up
and take action against that which threatens humanhealth and the health of our planet. Whether that comesin the form of extreme weather events caused by climatechange, social unrest, inequality, or other external
factors, we at Pfizer believe we have an obligation tobring our resources to bear to help solve such problems.
Pfizer’s track record in the environmental, social andgovernance (ESG) space is strong. We look forward
to continuing to build on it. Simply, our company has aconscience. We take seriously our obligation to conduct
ourselves in a way that makes the world a better place.
Discovering, manufacturing, and delivering innovative

4

vaccines and medicines is only part of what wecontribute to society.
This Impact Report and our accomplishments give me
great pride. I am excited about what we will accomplish
going forward. As always, I am deeply grateful to mycolleagues, partners, and stakeholders for their sharedcommitment to our Purpose. Together we can achieve
great things and make a meaningful difference in thehealth of people and our planet.

Introduction

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A Message from Our Lead Independent Director
I would like to express my gratitude on behalf of theBoard of Directors for your interest in Pfizer’s ESG
priorities and goals. Pfizer’s commitment to its Purpose—Breakthroughs that change patients’ lives—is crucial
for the company's long-term value creation and its
dedication to a sustainable, responsible, and patientcentric business model.
How Pfizer advances innovation to positively impact
patients, global health, and society remains important
to stakeholders and is a key focus for the Board as weoversee the company’s progress in achieving its ESG
goals. The Governance & Sustainability Committee (G&S
Committee) of the Board is responsible for overseeing
Pfizer’s ESG strategy, risk management, reporting, andpractices. Additionally, and as detailed in this Impact
Report, our other Board Committees oversee specificelements of ESG associated with their respective areasof responsibility and risk oversight.

Shantanu Narayen

Lead Independent Director

Pfizer 2023 Impact Report

Throughout 2023, the G&S Committee received regular
updates from the Chief Sustainability Officer and otherleaders about Pfizer’s progress towards advancing
its ESG priorities and public commitments to climate
sustainability and colleague diversity, equity, andinclusion. The Committee then shared this information
with the Board. The Committee was also kept informed
about potential changes within the dynamic external
ESG landscape, stakeholder expectations, and new ESG
reporting requirements.

5

I know that all of us on the Board take pride in servingon the Board of a company that recognizes theimportance of long-term sustainability and is committed
to advancing innovation responsibly and acting withintegrity as it delivers on its Purpose.
We are pleased to share Pfizer’s progress on these
efforts in this report and appreciate your interest.

Introduction

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Appendix2023 Progress and Highlights
Net Zero Standard
Aiming to achieve by 2040,
which is 10 years earlier than
expectations of the standard

Science Will Win
Seagen Inc. integration to bring thebest of the outside in as we focus
on delivering transformative cancer
therapies

4 out of 12 members of theBoard of Directors are women

3 out of 12 members of the

Recognized at theReduction in Scope 1 &2 greenhouse gas (GHG)
emissions from 2019 baseline

for our CDP Climate Change
Disclosure

44.8%

38%

Representation for womenat VP+ levels globally

Pfizer New Molecular Entity and novel
biologic applications approved by the
FDA between 2019-2023 designatedas Breakthrough Therapies

30.5%
Representation for U.S.
minorities at VP+ level

Named one of theOver 40K

World’s Most
Ethical Companies

Pfizer leaders have ESG KPIs factored
into their compensation“World’s Most EthicalCompanies” and “Ethisphere”
names and marks areregistered trademarks ofEthisphere LLC.

Board of Directors are ethnicallydiverseSee footnotes within the ESG Performance section for more details.

Pfizer 2023 Impact Report

13.9%

Leadership Level

6

by Ethisphere for the thirdyear in a row

Introduction

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SocialAppendix

Our Approach to ESG: Connected to Our Purpose and Strategy
We apply science and our global resources to bringtherapies to people that extend and significantly improvetheir lives through the discovery, development, andmanufacturing of medicines and vaccines.
With senior leader support and collaboration at all levels,
we aim to improve health outcomes, build trust, createshared value, and make a positive impact on society for
years to come.

ESG priority areas

Product innovation

Reducing cycle times, increasing success rates, and getting more breakthroughs into the hands of patientssooner.

Climate change

Taking action to reduce our greenhouse gas emissions and mitigate risks associated with a changing
climate.

Equitable access and pricing

Expanding affordable access to our breakthrough medicines and vaccines, and protecting people from theburden of infectious and other diseases.

Product quality and safety

Maintaining a quality culture to ensure the highest priority is placed on the safety, efficacy, and reliabilityof our products, the safety of our patients and consumers, the quality of data supporting regulatory
submissions, and interactions with our stakeholders.

Diversity, equity, and inclusion

Creating opportunities to advance diversity, equity, and inclusion across our workforce, those with whom
we do business, and society at large.

Business ethics

Exercising strong corporate governance and risk management practices to promote the long-term
interests of our stakeholders.

Our Core Business Principles

01

02

03

04

05

Trust isEverything

ScienceWill Win

Disruption Calls
for Innovation

Time is Life

Execution Makes
the Difference

Our Values

Courage
Pfizer 2023 Impact Report

EquityExcellence7

JoyIntroduction

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Appendix

Environment

SocialGovernance

Climate change

Colleague diversity, equity,and inclusion

Business ethics

ESG Priorities
Pfizer’s ESG priorities were identified through an ESG
priority assessment conducted in 2020. As part of theprocess we identified 30 key topics, which were mapped
into six ESG priority areas. These priority areas arealigned with our Blueprint Strategy and are incorporated
into our Enterprise Risk Management (ERM) process.

Prioritize

Product quality and safety
Equitable access and pricing
Product innovation

ManageEnvironment and health

Health, safety, well-being

Clinical trials

Product end-of-life

Healthcare infrastructure

Data privacy

Patient-centered design

Human rights
IP protection

Prioritize

ManageMonitorPfizer 2023 Impact Report

Supply chain transparency

Topics that we give themost prominence to

Topics that we actively
manage as a businessTransparency

Monitor

Topics that we monitor for achange in relative importance8

Pharmaceuticals in the environment

Disease prevention

Board diversity

Waste management

Employee development

Laws and regulations compliance

Water scarcity and discharge

Global community investment

Lobbying

Partnerships

Reliable supply

Retention and attraction

Right incentives

Introduction

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Appendix

Our Stakeholders
In 2023, we continued to engage a variety of stakeholders to
inform our decision-making processes and provide us withinsights as we work to advance our business responsibly.

Patients and Caregivers

Partners

Patients are our North Star. We work with patients and their caregivers tounderstand their needs and help ensure that our medicines and vaccines
work to address them. As part of this, we engage with patients and patientadvocacy groups to listen, learn, collaborate, and help address areas ofunmet patient need and to incorporate their perspectives before we launch
our medicines and vaccines.

The scale of our ambition requires us to work in coordination andcollaboration with external partners. We engage with foundations,multilateral organizations, non-governmental organizations, and coalitions
on issues including access to medicines and vaccines, environmental
concerns, transparency, and business ethics. We engage suppliers
to understand their needs and support their efforts to reduce theirenvironmental footprints. We work alongside global health and public healthorganizations to expand access to our medicines and vaccines, including
on-the-ground support for health and education initiatives, and partner withacademic and industry research alliances to help increase the number of
future breakthroughs for patients. We also educate medical organizations
about the latest research on our medicines and vaccines, our pipeline, andways to access our products.

Shareholders and Investors
Our shareholders, other stakeholders, and market analysts have a vested
interest in Pfizer’s operations and the short-, medium-, and long-term
success of the company. We engage investors on relevant issues, suchas ESG, tax, patient access and affordability, and remuneration, throughongoing one-on-one conversations, surveys and questionnaires, andtargeted communications, including ESG-related content on our Investor
Insights website.

Colleagues
We want all our colleagues to develop, grow, and succeed, and we believethat everyone deserves to be seen, heard, cared for, and respected. We
engage with colleagues to understand their perspectives and needs,
conduct regular surveys to understand colleague satisfaction and otheraspects of corporate culture, and invest in programs to help colleagues
manage their mental and physical well-being.

Governments, Policymakers, and Regulators
We engage policymakers and regulators to understand theexternal challenges and regulatory landscapes affecting patients,
communities, and our commitment to our Purpose. Throughongoing two-way dialogue with policymakers and targeted one-onone engagement with industry bodies, we guide our medicines fromthe laboratory to patients.

Pfizer 2023 Impact Report9Introduction

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Spotlight Stories
The stories that spotlight our extensive efforts in our priority areas.

A New Chapter in the
Battle Against Cancer
In December 2023, Pfizer completed its acquisitionof Seagen Inc., a global biotechnology company
that discovers, develops, and commercializes
transformative cancer medicines. This acquisition is
one of the largest investments in Pfizer’s history, withthe goal of delivering breakthroughs that improve thelives of people with cancer.
Seagen is a world leader in Antibody–Drug Conjugates(ADC) technology, which is emerging as a powerfultool across a broad range of cancers designed topreferentially kill cancer cells and limit off-target
toxicities. With the addition of Seagen’s four in-line
medicines, Pfizer’s industry-leading Oncology portfolio
now includes over 25 approved medicines andbiosimilars across more than 40 indications, including
nine medicines that are either blockbuster or havethe potential to be blockbuster. As a result, Pfizer’s
Oncology pipeline has doubled in size with programs
spanning multiple modalities, including ADCs, small
molecules, biospecifics, and other immunotherapies1.
Moving forward, Pfizer will leverage its leading protein
engineering and medicinal chemistry capabilities toadvance Seagen’s ADC technology, unlocking potential
novel combinations and next-generation biologics.

Advancing Net Zerofor Patients and Planet
We continue to pursue breakthroughs in other areas aswell. Innovating for patients is in our DNA, and we’re
proud of key 2023 developments, including in the areasof vaccines against respiratory syncytial virus (RSV)and meningococcal disease, as well as treatments
aimed at ulcerative colitis and alopecia areata.

Our company Purpose guides our environmental
sustainability priorities, with a focus on climate
impact mitigation, conservation of resources, and the
reduction of waste arising from our operations. We
recognize the profound societal and public healthimpacts that may result from environmental issues,
such as the potential for increased adverse impacts
on human health and decreased access to critical
medicines and vaccines due to disruptions in value
chains caused by the greater frequency of severe
weather.
In furtherance of our commitment to achieving thevoluntary Net Zero standard by 2040, ten years earlier
than the timeline described in the standard, and toachieve our goal of sourcing 100% renewable energy
by 2030, in 2023 we executed renewable eletricity
virtual power purchase agreements (VPPAs) to cover
the equivalent of Pfizer’s purchased electricity for
its manufacturing, research and development (R&D),
and commercial sites in the European Union. Thissolar capacity, together with the North America VPPA
signed in 2021, will play a key role in advancing ourambitious climate goals.

Driven by science and a passion for improving andextending patients’ lives, we’ll continue to work withgreat urgency towards our common Purpose to delivertransformative cancer medicines and bring new hopeto people living with cancer everywhere.

1

As of December 14, 2023.

Pfizer 2023 Impact Report

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AppendixIntroduction

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SocialESG Performance

Spotlight Stories
Responsible Artificial Intelligence
Innovation for Patient Impact
Artificial Intelligence (AI) is transforming life sciences
and has the potential to improve healthcare forpatients across the globe. It has the power to uncoverand activate meaningful insights to revolutionize
the pharmaceutical and healthcare industries. We
recognize that AI can be a powerful technology
in support of our mission to create breakthroughsthat change patients’ lives, including by potentiallyaccelerating R&D of new medicines and vaccines andenhancing the manufacturing and delivery of therapies
to patients.
We have the obligation to use AI ethically, responsibly,and purposefully to benefit our patients, customers,
colleagues, and society. Pfizer’s AI strategy isdesigned to enable us to responsibly and rapidly bringbreakthroughs to patients. Like everything we do, trustand integrity are core to our adoption of AI. This is thebasis of our AI risk management program, overseen
by a cross-functional AI Council, which includes AI
principles, corporate policy, risk assessment, andenterprise controls. Our strategic risk management
approach and governance empower us to ethicallyand responsibly harness the power of AI in service of
patients.
We are pioneering the use of AI in pharmacovigilance– the area of science in which scientists and medical
professionals monitor medicine and vaccine-related
safety issues. For example, we are testing the abilityof AI to assess and categorize reports people file

Pfizer 2023 Impact Report

Forging the Patient Advocacy
Leadership Collective
when they experience an “adverse event” (such as an
unexpected side effect) in conjunction with a Pfizer
product. This enables us to collect and analyze large
amounts of data, presenting it to trained experts toview and act upon more quickly to better meet patients’needs.

Our work reflects the enduring belief that better healthis possible for everyone, everywhere. As such, ourcommitment extends to partnering with stakeholders
to provide access programs and services, innovativetechnologies, educational materials, and more to
support the patient journey.
Patient Advocacy Organizations are our crucial
partners in the advancement of patient-centeredhealthcare. We believe that with the right tools andresources, we can better support patient communities
globally. Building on our longstanding engagementwith Patient Advocacy Organizations, in 2023, we were
proud to launch a new initiative: the Patient Advocacy
Leadership Collective.
Co-created with patient advocacy leaders worldwide,
we developed the Patient Advocacy LeadershipCollective platform to support patient advocacy
organizations around the world by empowering themwith knowledge and skills through offering evidencebased tools and resources that elevate their work withpatient communities. The Patient Advocacy LeadershipCollective offers programs that can aid growth anddevelopment for patient advocacy organizations todeliver upon their mission to support patients and theirfamilies.

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AppendixIntroduction

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Appendix

Our Purpose and values guide our ethical decision-making and how we deliver breakthroughs.
Pfizer prioritizes integrity, safety, and quality as we advance innovation for patients and seek
to improve global health. Our Board of Directors is actively engaged in the governance andoversight of our ESG strategy, which is aligned with our Purpose Blueprint strategy.

13 - Governance of ESG

How our approach to governance issues supports
the Sustainable Development Goals (SDGs)

14 - Ethics, Transparency, Quality
Ethical Decision-Making
Laws and Regulations ComplianceGood Health and Well-Being
We aspire to ensure health and well-being
for all through equitable access to medicinesand vaccines.

Open Door Culture and Investigations
Gender Equality
We aim to end discrimination against women,
ensure equal opportunities for leadership, and accessto reproductive health.

Safety and Quality
Counterfeit Medicines
Supply Chain Transparency
Intellectual Property
Clinical Trials
Data Privacy and Protection
Human Rights and the Right to Health
Political Contributions and Lobbying Activities

Responsible Consumption and Production
We aim to achieve environmentally sound life cycle
management and adopt sustainable practices.

Climate Action
Through our goals we are taking urgent action
to help combat climate change and its impacts.

23 - Accountability
Right Incentives
Board of Directors and Board Committees
Board Leadership Structure
Board Diversity and Independence

Peace, Justice, and Strong Institutions
We operate to uphold justice, promote the rule of law,and develop ethical, transparent, and representativedecision-making.

More information on the SDGs here.
Pfizer 2023 Impact Report12Introduction

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Governance of ESG
Our ESG efforts align with our commitment to achieving our
Purpose and supporting the communities in which we live
and work through ethical decision-making based on our corevalues: Courage, Excellence, Equity, and Joy. Values-based
decision-making promotes accountability and helps ensurethat integrity, quality, safety, and ethics are integrated in
all we do. Pfizer’s governance of its ESG priorities—alignedwith our Blueprint strategy—is critical to help enable impact,
innovation, and transparent reporting.

Our ESG governance is built on the principles of oversight by our Board of
Directors, commitment by and accountability of leadership, and colleague
engagement across the company. Additionally, we leverage diverse
perspectives from internal and external stakeholders to inform our ESG
strategy and priorities.
ESG at Pfizer is governed by our Sustainability Steering Committee,
chaired by our Chief Sustainability Officer, which has responsibility forconsidering and adopting potential goals, commitments, and targets with
input from experienced subject matter experts and advisors. The Committee
advises on key issues and guides the integration and implementation of
Pfizer’s non-financial, ESG reporting. This Committee is overseen by the
Executive Sustainability Committee, chaired by the Executive Leadership
Team member leading Corporate Affairs (this leader reports directly to the
Chairman and CEO), with escalation to the Governance & Sustainability
Committee (G&SC) of the Board of Directors, as appropriate.
The Board of Directors is engaged in and supports ESG at Pfizer. The G&SC
is primarily responsible for oversight of our ESG strategy, reporting, policies,
and practices. The G&SC regularly receives updates from management on
Pfizer’s progress as measured against the company’s ESG strategy, metrics,
and goals. The G&SC also receives updates on the regulatory environmentthat may impact our ESG strategy and reporting requirements. The G&SC
has oversight of human capital management, including succession planning;
culture; diversity, equity and inclusion; pay equity; talent management;
political and lobbying activities; climate change program; reputational risk
factors; and Board diversity.
Other Board Committees oversee elements of our ESG program associatedwith their respective areas of responsibility. For example:

Pfizer 2023 Impact Report

13• The Audit Committee has primary responsibility for overseeing Pfizer’s
ERM program and reviews and receives briefings on priority issues thatfall under ERM and ESG, including company culture (compliance related
concerns, workplace behavior, harassment, and retaliation).
• The Compensation Committee oversees the executive compensation
program (which includes an “ESG Scorecard” to align funding of
our annual short-term incentive plan for over 40,000 eligible global
colleagues and leaders, in part, to select social and environmental key
performance indicators (KPIs), please see Right Incentives for more
information), including approving compensation of our executive officers.
The Compensation Committee also has oversight of human capitalmanagement, which may include executive diversity, pay equity, inclusion,
recruiting, retention, career development, and succession planning (incollaboration with the G&SC). See Pfizer’s 2024 Proxy Statement for further
details on the executive compensation program.
• The Regulatory and Compliance Committee oversees the complianceprogram, ethics and integrity (including company culture), product quality
and safety, the quality and compliance governance framework, and risk
management, in addition to overseeing healthcare-related regulatory andcompliance risks in connection with the development, manufacture, supply,and marketing of products and risk mitigation efforts.
We encourage all colleagues to contribute to achieving our ESG goals
by understanding our priorities and advancing business in a sustainable,
responsible way in their day-to-day activities. We integrate ESG bypartnering closely with colleagues in our priority areas to establish ESG goals
and define action plans to achieve those goals.

Introduction

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Ethics, Transparency, Quality
At Pfizer, trust is everything. Our patient-centric Purpose
and culture of quality, integrity, and safety are of paramountimportance as we innovate and continue to deliver
breakthroughs. Our leaders set the tone for our strong
culture of integrity and encourage colleagues raisingconcerns to speak up without fear of retaliation.

Ethical Decision-Making

Laws and Regulations Compliance

Values-based decision-making promotes accountability and helps ensurethat integrity, quality, safety, and ethics are foundational to all we do. Our
Code of Conduct (the Blue Book) and related policies, procedures, andtraining are designed to support compliance and adherence to our values- Courage, Excellence, Equity, and Joy. Policies governing colleague
interactions with healthcare organizations, physicians, patients, and otherstakeholders are contained in the White Guide for U.S. headquartersbased colleagues and the Orange Guide for U.S. field-based colleagues.
Pfizer also maintains a Global Policy on Interactions with Healthcare
Professionals, including ethical marketing.

Our ethics and compliance program is structured around eight fundamental
elements, which form the framework for effective compliance and quality
risk management.

We incorporate ethics and business integrity expectations into internal
performance management frameworks and assessments, which aredesigned to foster colleague accountability, including leadership. Our“Integrity in Hiring” initiative implemented in select markets in 2023
incorporates ethics and compliance into the hiring process throughinterview questions and evaluations.

TRANSPARENCY
We are committed to the principle of transparency. We upholdhigh ethical, scientific, and medical standards in our R&D
activities and are committed to disclosing financial and otherinterests and relationships that may create apparent or perceived
conflicts of interest. These include areas such as funding for
educational activities, the status of our U.S. pharmaceutical postmarketing commitments, our pipeline of experimental medicines,
the registration and reporting of clinical trial results, corporate
political contributions in the U.S., U.S. federal and state lobbying
activities, and disclosures of medical grants. Pfizer also reports to
the Centers for Medicare and Medicaid Services (CMS) payments
and other transfers of value made to U.S.-licensed physicians andU.S. teaching hospitals.

Pfizer 2023 Impact Report

14

Quality, integrity, and proactive risk management drive our efforts to enable
innovation for patients and global health. Pfizer’s integrity and complianceexpectations represent a shared undertaking and put responsibility on allcolleagues. Pfizer is committed to conducting business responsibly andacting ethically, in accordance with all applicable laws and regulations. We
expect the same commitment to integrity and compliance from suppliers,
as well as from consultants, agents, representatives, and other third
parties acting on our behalf, as well as those acting on their behalf (e.g.,subcontractors) in connection with work for Pfizer.
Pfizer’s Chief Compliance, Quality & Risk Officer reports to the CEO and isa member of the Executive Leadership Team. This structure is designed toensure direct access to leadership, sufficient resourcing, and independent
execution of responsibilities. Our program is supported by full-timecolleagues as well as a network of colleague “compliance champions,” whoserve as both models and resources helping to drive business-led quality
and compliance ownership worldwide.
The Regulatory and Compliance Committee of the Board of Directors
oversees our quality and compliance governance framework, which
supports the program’s independence and risk management. This
Committee’s oversight of healthcare quality and compliance covers thefollowing areas in pursuit of advancing integrity and Pfizer's Purpose:business ethics; quality and integrity in the discovery, development,
manufacturing, and delivery of vaccines and medicines; responsible
product marketing; third-party risk management; and compliance with
anti-bribery / anti-corruption, transparency, product promotion, and otherapplicable laws and regulations.
The Quality and Risk Committees for our core functional areas provide aninnovative framework to advance business-led, proactive risk managementand drive clear accountability for acting with integrity. These committees
report up to our Executive Compliance Committee, the highest-level

Introduction

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Appendix

Ethics, Transparency, Quality- continued

internal compliance oversight body, which is composed of Pfizer’s executive
leadership and the Head of Corporate Audit, and chaired by the CEO. This
Committee has a remit similar to that of the Regulatory and Compliance
Committee of the Board.
We regularly engage independent third parties to assess our ethics andcompliance program against standards established by governments andindustry best practices. In 2023, we engaged a third party to conduct an
independent compliance program review to assess program effectivenessand identify opportunities for continuous learning and enhancement. Ourinternal audit function has a systematic and regular audit process thatannually assesses our operations. Additionally, in coordination with the Legaland Compliance Divisions and the Quality and Risk Committees, internal
audit works with key stakeholders across the company to conduct our ERM
process that annually identifies, assesses, and manages risk priorities.
Those priorities extend to cover quality, compliance and ethical standards,
responsible marketing, and antibribery / anti-corruption.
We are committed to integrating integrity and quality into everything wedo, as well as to deterring non-compliance and driving ethical behavior. Our
robust, proactive quality and compliance governance framework is built
around the elements of effective quality, compliance, and risk management,
including, for example:• Culture: Leaders are committed to and accountable for fostering a culture
consistent with our values, including psychological safety to support
colleagues in speaking up or raising concerns without fear of retaliationand promoting continuous improvement. We hold managers accountableand expect them to play a key role in cultivating this speak-up culture andreinforcing that acting with integrity is everyone’s responsibility; we provide
managers with supporting materials and templates that can be customized
for local, market-specific use.
• Policies: Clear, easy-to-understand policies and procedures provide
guidance, including our principles-based Code of Conduct (available publicly
in over 30 languages) and our whistleblower policy to protect colleagues
who raise concerns, as outlined in our Code of Conduct.
• Training: Colleagues and certain third parties receive risk-based, rolespecific training on our Code of Conduct and other key areas, including
ethical standards, responsible marketing and advertising practices,
information security, safety reporting responsibilities, and anti-bribery /anti-corruption, upon hire and regularly thereafter (in general every one to
two years). Our ethics and compliance training programs use multi-modal
components to address different learning styles, maximize engagement, andreinforce salience of training content. Our training program encompasses
a role-based scope of topics and depth of knowledge assessments to help
drive training effectiveness.

Pfizer 2023 Impact Report15• Communications: Messaging about integrity, including communications
reinforcing expectations from leadership, culture campaigns, and creativeuse of various media, reinforces our focus on always doing things the right
way and speaking up with questions or concerns. Our communications
plans are designed to cultivate a culture of integrity throughout the company,
including by addressing global, functional, and regional priorities, andexisting and emerging training, culture, and communication needs.

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SocialEthics, Transparency, Quality- continued• Risk Assessment & Mitigation: Enterprise-level and tailored quality andcompliance risk assessments, including in the area of anti-bribery / anticorruption, are conducted regularly (on a market-by-market basis andwithin and across our core functions). These assessments inform our annual
ERM process aimed at identifying, assessing, prioritizing, and mitigating
priority and emerging risks. It enables enhanced oversight and appropriate
resourcing to proactively manage risks. We seek to identify and address risks
as early as possible, preventing non-compliance proactively, where possible.
• Monitoring: Live, continuous monitoring across key risk areas is designed
to detect and remediate any potential non-compliance and identify
opportunities for program enhancement, risk mitigation, and continuous
learning.
• Third Party Management: Robust controls and processes are designed
to evaluate and mitigate risk related to third parties we work with, including
a formal global anti-bribery / anti-corruption diligence process that
includes screening, auditing, training, confirmation of policies (including
bribery / corruption prohibitions), and monitoring of third-party agentsand intermediaries, and other risk-based compliance controls designed toensure ethical business practices and compliance with applicable laws andregulations, including anti-bribery / anti-corruption laws.

ANTI-BRIBERY AND
ANTI-CORRUPTION (ABAC)
Our international anti-bribery and anti-corruption policies andprocedures are designed to ensure compliance with the U.S. Foreign
Corrupt Practices Act (FCPA) and applicable international anti-bribery
laws. Pfizer policy, also known as “My Anti-Corruption Policy andProcedures” (MAPP), prohibits all forms of bribery and corruption,
whether by colleagues or our business partners. Colleagues andbusiness partners must never offer, promise, authorize, or provide
a payment or benefit that is intended to improperly influence a
government official, healthcare professional, or any other person,
including commercial entities and individuals, in exercising their
responsibilities. Learn more about Pfizer’s ABAC program here.

Pfizer 2023 Impact Report

Open Door Culture and Investigations
Leaders and management are dedicated to fostering a culture in which
all colleagues can ask questions, raise concerns, and report potential
misconduct without fear of retaliation. We measure colleague comfort andawareness about raising concerns, including awareness of our whistleblower
policy, through our confidential enterprise Pfizer Pulse Engagement Survey
sent to all colleagues annually. The survey results are used to focus leadershipcommunications, training, and other proactive efforts to foster our Purposedriven culture and encourage speaking up.
Many channels exist for raising questions and reporting concerns, including
the Compliance Helpline (third-party public hotline available by phone or web,in over 30 languages, with anonymous reporting where allowed under local
law), the Compliance Division (through email, phone, fax, mail, and directly tocolleagues), management, and other channels supported by our Open Door
Policy (which includes our whistleblower policy). This policy encourages
colleagues to present ideas, ask questions, and raise concerns. Retaliation
against anyone who seeks advice, raises a concern, reports misconduct, or
provides information in an investigation is strictly prohibited by our policythat protects whistleblowers. In addition, our Ombuds Office is an available
resource to support colleagues with information and guidance to help them
resolve work-related issues.
Pfizer takes reports of known or suspected violations of company policies
and applicable law seriously; our goal is to respond appropriately andpromptly to all questions and reported concerns. We aim to identify andaddress any potential inappropriate conduct as early as possible, prevent
future recurrences, and inform continuous improvement. We investigate allreferable compliance issues (RCIs)—significant potential, suspected, or actual
violations of law or policy. For RCIs where there is a substantiated violation,
we institute individual discipline where appropriate, including measures
such as coaching, warnings, and termination. Our compliance investigations
process also includes analysis of the root cause of substantiated RCIs.
After investigation, we work with accountable stakeholders to implement
corrective and preventative actions. We monitor the effectiveness of theseactions, adjust as needed, and track and report on progress. Pfizer has aprocess to escalate certain significant matters to the Executive Compliance
Committee and the Regulatory and Compliance Committee and Audit
Committee of the Board.

16

ESG Performance

AppendixIntroduction

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SocialESG Performance

Appendix

Ethics, Transparency, Quality- continued

Safety and Quality
Patient health and safety are foundational to everything we do. We arecommitted to ensuring that our products are developed, manufactured,and supplied to high standards of quality, safety, efficacy, and are assured
through the deployment of our robust Quality Management System (QMS).

safety and quality information, including complaints and adverse events.
This monitoring enables proactive, data-driven actions related to patients,
consumers, healthcare professionals (HCPs), investigators, institutional
review boards / independent ethics committees (IRBs / IECs), Data
Monitoring Committees (DMCs), and health authorities and regulators inaccordance with both internal and external standards.

• Research and development of products• Clinical trial design and execution• Regulatory submissions• Manufacturing, packaging, and distribution and supply of products,
including raw materials procurement• Pharmacovigilance (PV) and post-market surveillance

Patient-Centric Focus
Patient health and safety comes first in our work from early-stage
R&D through the full product lifecycle.
Our patient-centric approach to R&D begins in the lab withdata modeling to determine potential therapies. Our
clinical trials (page 21) are designed around patient
safety with equitable and inclusive participation.
Our global supply network manufactures anddelivers products pursuant to our robust
policies and procedures designed to ensure
safety and quality in accordance with Pfizer’s
Global Quality Standards and relevant
regulations, including Good Manufacturing
Practices (GMP).
Our policies and procedures are based on
industry best practices and reflect Pfizer’s
own high standards. Each of our internal
manufacturing, supply, and distribution
operations, as well as our external vendors,
hold relevant manufacturing licenses /certifications indicating compliance with
GMPs. Our quality performance is actively
monitored through an integrated management
system to identify and mitigate risks.
Throughout each product’s lifecycle, we
continuously monitor and evaluate all relevant

Pfizer 2023 Impact Report

Quality Management System (QMS)
Pfizer’s QMS, as defined in our Corporate Quality Policy,
provides an integrated framework through which
Pfizer achieves its quality and safety standards.
This framework is based on industryrecognized quality management principles.
The QMS is designed and built toadhere to applicable standards andrequirements of health authorities
and global regulators, such as:
International Organization forStandardization (ISO) 13485;
Good Practices (GxP) such as
Good Laboratory Practices(GLP), Good Clinical Practices(GCP), Good Manufacturing
Practices (GMP), Good
Distribution Practices (GDP),and Good Pharmacovigilance
Practices (GPvP); and International
Council for Harmonisation (ICH)of Technical Requirements
for Pharmaceuticals for Human
Use guidelines. The QMS covers
pharmaceuticals, vaccines, medical
devices, and in-vitro diagnostic products, inaddition to focusing on:

17• Commercial and medical affairs activities
This framework embeds quality management throughout theorganization and is enabled by a governance structure with clear policies,
communications, and escalation pathways. Our QMS is continuously
monitored to drive innovation and agility, while helping to ensure the timely
identification and appropriate actioning of quality, safety, and complianceissues.

Quality and Integrity Culture
Pfizer places great emphasis on maintaining a culture of quality and integrity.
Throughout the year, colleagues at all levels contribute to the development
and implementation of Quality & Integrity (Q&I) culture initiatives, which
serve to reinforce the importance of product quality and safety while also
fostering a culture of integrity. An example of one such initiatives is theappointment of Q&I Champions—individuals nominated to act as cultureambassadors. These champions encourage open communication, proactive
risk management, and speak-up behavior at all levels. Q&I Champions foster
this culture through colleague empowerment, peer-to-peer assistance,
education, and open dialogue. Our quality and integrity culture is actively
monitored, improved, and sustained through our QMS.

Introduction

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SocialAppendix

Ethics, Transparency, Quality- continued

Safety and Quality KPIs

Training and Qualification

Audits and Inspections

Our comprehensive global training and qualification policies and proceduresare designed to ensure compliance with our scientific, ethical, legal, andregulatory obligations, as well as our own high standards. Requirements
are in place to help ensure all individuals (based on role and responsibility)
who perform work for or on behalf of Pfizer have the appropriate education,
training, and resources to work in compliance with applicable laws,
regulations, and Pfizer policies. Training compliance is actively monitored
and formally documented.

As part of our independent audit program, we regularly assess theeffectiveness of our QMS. Pfizer’s internal audit processes are conductedin accordance with all applicable regulatory requirements, standards,
guidelines (e.g., ISO & ICH), and governing GxPs, to help ensure patient
safety, product quality, and applicable licenses and certifications aremaintained.

Risk and Issue Management
Pfizer's Risk Management Framework is a systematic, continuous, endto-end process for identifying and mitigating quality and compliancerisks. It provides criteria to conduct risk assessments grounded in defined
thresholds for escalation, which are routinely tracked and monitored. The
framework enables timely notification to management of critical issues
and significant trends, and implementation of corrective and preventative
actions.

Third Party Management
Pfizer’s global QMS framework is designed to ensure that third-party
partner materials and services meet our exacting product quality standards,
spanning the full product lifecycle including R&D, clinical research,
manufacturing, and distribution. Pfizer recognizes the strategic importanceof Contract Manufacturing Organizations (CMOs) and Contract Research
Organizations (CROs). As such, Pfizer has dedicated teams to maintain thenecessary policies and effectively identify and mitigate associated risks.
Processes are in place for the management and oversight of external parties
who carry out work on Pfizer’s behalf to assure control of outsourced
activities and compliance with applicable laws, regulations, and Pfizer
policies. We are committed to selecting companies that are responsible,
ethical, and reliable partners. The performance of these partners ismonitored, including through regularly conducted audits. Audit outcomes areused to drive continuous improvement in both performance and compliance.
Please see page 19 for more information on Supply Chain Transparency.

Pfizer 2023 Impact Report

2023
76

# Internal Audits across GCP / PV / GMP1

995

# Third Party Audits across GCP / PV / GMP

250# GCP / GMP / PV FDA Inspections

3# GCP / GMP / PV Inspections from All Other Health Authorities

160# Unique Health Authorities Completing Inspections

63# FDA inspections that resulted in an enforcement action40# GMP Inspections resulting in VAI status

20# GMP Inspections resulting in OAI status

0# GCP Inspections resulting in VAI status

2# GCP Inspections resulting in OAI status0# PV Inspections resulting in VAI Status0# PV Inspections resulting in OAI Status

0# FDA Recalls5

4• Implementation of a next-generation digital quality management system% of batches distributed with no recalls (U.S. Market)

99.9%• Increased efficiency and effectiveness of Pfizer’s quality lab practices
and safety systems# Class I Recalls

3# Class II Recalls

0

The audit program spans preclinical, clinical, pharmacovigilance,
regulatory, medical, manufacturing and logistics, suppliers, andpostlaunch activities, including responsible marketing and ethical productpromotion. The program also covers regulated processes and information
technology controls. Our audits are designed to provide assurance that
we are compliant with regulatory requirements worldwide and our own
standards. This helps ensure that we proactively identify and remediaterisks to compliance. Finally, we routinely undergo GMP, GCP, and PV
inspections from regulatory agencies worldwide.

Continuous Improvement (CI)At Pfizer, we pursue innovation and continuous improvement in our work
across the enterprise, including through CI initiatives such as:• Increased use of advanced analytics and AI in Pfizer’s manufacturing andsupply chain networks• Improvement of our quality and risk management systems and tools toadapt to changes in the external environment and internal strategy• Continuous enhancement initiatives for medical devices andcombination products focused on user requirements, integration of
cutting-edge technology, and alignment with Net Zero initiatives
We have a comprehensive quality and compliance governance process inplace through which product quality and safety indicators are reported on,
evaluated, and actioned as appropriate. We are committed to transparently
communicating key product quality and safety indicators including thefollowing metrics.

18

3

1

# Class III Recalls
GCP - Good Clinical Practices
GMP - Good Manufacturing Practices
PV - Pharmacovigilance
VAI - Voluntary Action Indicated (U.S. FDA)OAI - Official Action Indicated (U.S. FDA)Count of inspections includes all GCP/GMP/PV
inspections of Pfizer listed below:
3• GCP: Investigator sites, sponsor, vendors / CROs
that are involved with a Pfizer product or process• GMP: Pfizer Global Supply (PGS) sites, PharmScisites, Pfizer Country Offices (PCOs), Distribution /Logistics Centers (LC), SLS (Labs), Quality Centers

Note: Does not include Seagan Inc. data
Count of internal audits includes all Pfizer audits
performed of a Pfizer clinical/GMP/PV facility and/or
process
1² Count of third-party audits includes all Pfizer audits
performed of an external clinical/GMP/PV vendor, clinical site, or contract manufacturing organization (CMO)• PV: Sponsor, vendors that are involved with a Pfizer
product or process
Data includes both regulatory warning letters as well as
enforcement actions (e.g., seizure, injunction, criminal
prosecution and/or criminal fines for food, drug, andcosmetic act violations)
4

5

Definition of Recall Classifications

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Appendix

Ethics, Transparency, Quality- continued

Counterfeit Medicines
Counterfeit medicines pose a significant risk to patient health and safety. To
protect our patients, we take a proactive approach to product safety by investingin an enterprise strategy to combat counterfeit threats through patient education,
legislative advocacy, surveillance, and interdiction1. Additionally, we are building
a coalition with healthcare providers and associations, policy leaders, regulatory
agencies, distributors, insurers, pharmacies, patient advocacy groups, and otherpharmaceutical companies to combat the risk counterfeits pose to the health ofpatients and communities. This is formalized in our DETECT, DISRUPT, DETER,
and IMPACT framework in our campaign against counterfeit Pfizer medicines.
Pfizer has continued to strengthen its partnerships with external stakeholders,a transformative factor in the ongoing battle against counterfeit medicines. On
August 10, 2023, the U.S. Customs and Border Protection (CBP) and the U.S.
Chamber of Commerce renewed a memorandum of understanding (MOU) toenhance intellectual property rights enforcement through information sharing. The
MOU, initially signed in 2021, now renewed for a period of five years, representsa groundbreaking framework for collaboration between the public and private
sectors in combating counterfeits. Pfizer played a leading role developing thisinitiative and participated in the data sharing pilot program, yielding patientprotecting law enforcement results.
Pfizer routinely provides training to policy makers and law enforcement, supporting
their ability to identify counterfeit drugs and combat counterfeiting. In 2023,
we scaled the “No Fakes for Health Sake” educational campaign to markets
outside the U.S. The campaign, which aims to raise awareness of the dangers ofcounterfeit medicines among patients, healthcare providers (HCPs), pharmacists,
policy makers, and government officials, is available in multiple languages to further
maximize its reach.
Our “Counterfeit Medicines: A Serious Threat to Patient Safety” toolkit serves
multiple stakeholders who join the fight against counterfeits. Resources on how tosafely buy medicines online are available at our corporate website at Pfizer.com/
Counterfeits.
In addition to our traditional anti-counterfeit efforts, Pfizer helps address illicit
online prescription drug offers through advanced internet monitoring and12

disruption programs. We search and systematically disrupt online pharmacy andsocial media groups dispensing counterfeit versions of Pfizer medicines andvaccines with enhanced digital tools that keep pace with the sophisticated andrapidly evolving tactics employed by counterfeiters to target patients. We employ
technological advancements and innovations to help ensure our efforts are
adapting to the evolving landscape in this fight against counterfeit medicines.
If a counterfeit product is identified in the legitimate supply chain, a formal
process is in place to alert the appropriate authorities and relevant trading
partners. Additionally, we collaborate with distributors and repackagers to monitor
distribution channels and improve surveillance.
Pfizer evaluates and invests in packaging and information technologies to alignwith global serialization regulations and challenges associated with counterfeiting,theft, and diversion. The unique Product Identifiers developed for serialization
will enable the tracking and tracing of product movement through the supply
chain, from the manufacturing site to patient dispensation (including Government
Systems and Trading Partners) and will allow authorized trading partners to verify
the authenticity of our medicines with a simple scan.

These reviews also integrate evaluation of human rights considerations alignedwith SA 80002. Pfizer maintains a focused human rights diligence program as
described in our Modern Slavery Statement, which outlines our management
approach in our supply chain and our operations. Pfizer is currently focusing
on targeted high-risk areas as identified by the Global Slavery Index and istaking steps to address these risks as described in our Statement, including
implementation of our corporate labor and human rights standard. If we identify
areas with higher risk, our process outlines additional due diligence actions to
help us avoid being complicit in supporting modern slavery.
Through a combination of remote and on-site audits, we assessed EHS
performance for 109 supplier facilities in 2023, resulting in 878 observations.
We require our suppliers to develop action plans in response to our audits andimplement improved controls, as needed.
Pfizer is a founding member and active participant in the PSCI. Pfizer colleagues
currently sit on the PSCI board and lead PSCI working committees. In 2023,
Pfizer colleagues also supported PSCI capability-building initiatives by serving as
speakers at supplier conferences.

Supply Chain Transparency
We set high standards for responsible supply chain management, guided byrobust governance processes. This helps ensure the safety and quality of the
medicines and vaccines we produce and aligns with our core value of Equity.
Compliance with laws is our baseline expectation, and we also establish otherrisk-based assessment criteria to help assure our suppliers are responsibly
managing environmental, health, and safety (EHS) risks and maintaining a robust
supply chain.
Our established risk-based evaluation of suppliers, including contract
manufacturers, assesses EHS and sustainability performance. Evaluations
include engagement with suppliers to help support their efforts to improve EHS,
sustainability, and labor and human rights performance. We apply a risk-based
approach to determine where to complete our evaluations and apply our efforts
where we believe there is opportunity to make the greatest potential impact
and drive improvement. Our collaborations with our suppliers are focused oncompliance with laws, improving sustainability of operations, and alignment to
our Supplier Conduct Principles and the Pharmaceutical Supply Chain Initiative

In this context, “interdiction” refers to the seizure, raids, and arrests to prevent counterfeits from reaching their targeted audience.
SA 8000 is an international certification standard that encourages organizations to develop, maintain and apply socially acceptable practices in the workplace.

Pfizer 2023 Impact Report(PSCI) Principles for Responsible Supply Chain Management. Please see our
Responsible Sourcing page for additional details.

19

RELIABLE SUPPLY
We take action to help ensure the safe, secure, and compliant
warehousing and transportation of Pfizer products. An importantcomponent of our commitment to patient safety is the reliable supply
of medicines and vaccines. Our policies and expectations for those
across our supply chain is that they adhere to relevant local and federal
regulations, in addition to conforming to our own strict standards andexpectations of compliance excellence.

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Appendix

Ethics, Transparency, Quality- continued

Intellectual Property (IP)
SUPPLIER DIVERSITY IS IN OUR DNA
Practicing inclusive sourcing is aligned to our Equity value. We arecommitted to having a supplier base that represents the diverse
patients we serve. We believe that by working with diverse suppliers,
we gain a fresh, innovative perspective that ultimately helps us better
serve our patients.
Our supplier diversity program focuses on providing equitable
opportunities as well as mentoring and spending with diverseand small owned businesses. The program prioritizes identifying
strategic partners, fostering mentorship and connection between
suppliers, practicing inclusive sourcing, and much more. In 2023,
we mentored five diverse-owned suppliers who provide services indifferent industries, including digital marketing, executive training,
and recruiting from the disabled community. Two of these mentees
were included in sourcing opportunities. Looking ahead to 2024,
we plan to continue this initiative across additional industries. In
addition to mentoring diverse-owned suppliers, we engage in diverse
supplier outreach and education activities throughout the year,
including hosting webinars and supplier diversity events. Throughthis intentional approach to supplier diversity, we aim to help drive
economic impact, which helps influence positive health outcomes inlocal communities where our patients and colleagues live.

Pfizer 2023 Impact Report

Pfizer’s ability to drive science forward and deliver breakthroughs thatchange patients’ lives is fueled by the protections provided by theintellectual property system. The patent system plays a crucial rolein incentivizing innovation, promoting competition, and encouraging
collaboration and partnerships, which are essential to scientific progress.
By requiring the disclosure of inventions, the patent system facilitates theexchange of knowledge and ideas. It is this combination of incentives anddisclosure that empowers companies like Pfizer to invest significant time,effort, and resources into the discovery, research, and development ofgroundbreaking medicines that have the potential to transform lives. We arecommitted to the responsible use of our intellectual property, as reflected in
the “IP Principles for Advancing Cures and Therapies” (IP PACT).
Recently, Pfizer updated our Patent Policy Position with the aim ofenhancing transparency and offering greater clarity regarding our approach
to patent filing and enforcement. Our patent filing decisions are basedon a number of factors, chief among them whether the invention reflects
a genuine innovation that will ultimately support the needs of patients.
To learn more about our patent practices and commitment to access to
medicines, please see our Patent Policy Position.
We recognize the unique socioeconomic challenges facing Least
Developed Countries, as defined by the UN Committee for Development
Policy, and have a policy of patent nonenforcement in those countries. This
policy extends to our entire portfolio of vaccines and medicines. We havealso engaged in a voluntary licensing agreement with the Medicines Patent
Pool to help facilitate the production and supply of generic versions of ouroral COVID-19 treatment. Our efforts here are just one part of how we’re
working to provide equitable access to medicines to the most vulnerable
populations. Please see pages 34 and 37 for more information on our
Health Equity activities and page 35 for information on our Healthcare
Infrastructure initiatives.

20

In the most recent Access to Medicine Index, Pfizer was recognized
as performing “above average” in sharing IP assets with third-party
researchers. We also continue to be a sponsor of the Inventor Assistance
Program, a World Intellectual Property Organization (WIPO) initiative incooperation with the World Economic Forum that matches developing
country inventors and small businesses of limited financial means withpatent attorneys that provide pro bono legal assistance to secure patent
protection.

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Appendix

Ethics, Transparency, Quality- continued

and descriptions in a more understandable and accessible way to a generalaudience. In 2023, we unveiled a new initiative to share certain individuallevel clinical trial data with study participants, which has never been done
systematically before. These plain-language study results summaries andindividual-level clinical trial data can be accessed by trial participants throughan opt-in clinical trial alumni website at www.pfizerclinicaltrialalumni.com.
Additionally, Pfizer provides a number of avenues that allow the general public
to learn more about participating in a clinical trial as well as get connected toclinical trial sites near them through a convenient Find-a-Trial search tool on
PfizerClinicalTrials.com.
Pfizer also launched PfizerLink.com, the first industry-sponsored researchregistry, which aims to make it easier for interested individuals to find Pfizer
clinical trials, helping to address longstanding challenges associated withclinical trial recruitment, and advances Pfizer’s mission of bringing medicines
to patients faster. This novel approach allows interested individuals—either
healthy volunteers or those with medical conditions—to share information about
themselves to potentially be matched to an available Pfizer clinical trial with thehelp of a PfizerLink Navigator.

Clinical Trials

All Pfizer-sponsored interventional studies respect study participant rights andpatient privacy. Required training for both Pfizer employees and contracted
research sites includes a focus on ethical topics. Studies are conducted inaccordance with our high ethical standards, applicable laws and regulations,and principles derived from relevant international standards, including:

Our work in clinical trials is fundamental to achieving our Purpose. Patient
health and safety is at the heart of this — including how we design, run, andcommunicate our clinical trial research. Our leadership is committed toensuring quality and ethical conduct in clinical trials, as is also reflected in ourpolicies and processes. Our conduct is guided with the help and oversight ofa variety of groups, including patient organizations, institutional review boards
and ethics committees, regulatory authorities, data and safety monitoringboards, and medical and industry association guidelines governing ethicalclinical trial conduct and research integrity.

• The Council for International Organizations of Medical Sciences (CIOMS)International Ethical Guidelines

In keeping with our core value of Equity, our teams continue to find new ways
to remove barriers to clinical trial participation and improve the experienceof clinical trial participants, such as using digital tools, local healthcare
providers and settings, and other approaches to make clinical trials more
flexible and accessible. This includes adhering to the “plain language resultssummary” initiative wherein we share information about clinical trial results

More information on Pfizer policies related to clinical trials can be found here on
our research integrity and transparency page at Pfizer.com. You can also learn
more about our clinical trial work at Pfizer.com/ClinicalTrials and by searching“Pfizer” on Clinical Trials.gov.

Pfizer 2023 Impact Report• The International Council for Harmonisation of Technical Requirements for
Pharmaceuticals for Human Use (ICH) E6 guideline for Good Clinical Practice• PhRMA’s Principles on Conduct of Clinical Trials and Communication ofClinical Trial Results• The Declaration of Helsinki• The U.S. Belmont Report

21

DIVERSITY IN CLINICAL TRIALS
Race, ethnicity, age, and gender all impact how people respond totreatment, so it is essential that clinical trial studies reflect the diversityof the potential recipient population. Pfizer has taken many steps
over the years to help ensure diverse representation in clinical trials,
including reinforcing the importance of diversity in trials among ourclinical study teams. We have also shared our own knowledge andlearnings with others because we recognize that no single entity cansolve the longstanding challenges alone. In 2023, Pfizer publisheda framework that we use to set enrollment goals to help ensure
participant diversity in sponsored clinical trials in the U.S. We've madea commitment to diverse representation in our clinical trials and thatstarts with setting metrics by which to hold ourselves accountable.

Data Privacy and Protection
We are committed to the responsible, transparent, and secure use of personal
data entrusted to us by patients, customers, colleagues, and others. Our
privacy practices are governed by our Global Privacy Committee, a crossfunctional governance body composed of senior-level leaders who provide
oversight and guidance that informs company practices. Additionally, our
Global Privacy Office maintains an enterprise-wide policy and standards
that guide the collection, maintenance, and protection of personal data andconsider the legal and regulatory requirements where we do business. We also
mandate regular colleague and contractor training on global privacy principles
in accordance with our commitment to respect and safeguard personal data.
We do all of this to help ensure that we are respecting the right to privacy of
individuals and responsibly collecting and managing the data we collect.
Additionally, Pfizer’s Privacy Principles outline our approach to the
management, collection, and appropriate uses of personal health data. These
principles also cover what we do to help ensure proper safeguards are in place
to protect what has been entrusted to us. Similarly, Pfizer is committed to the
responsible use of artificial intelligence. For more information please see our
Policy Position on Artificial Intelligence for how we are setting a clear path forthe company to use this technology.

Introduction

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Appendix

Ethics, Transparency, Quality- continued

Human Rights and the Right to Health
Pfizer is committed to conducting business in an ethical and responsible
manner. This includes respecting internationally recognized human rights
throughout our operations, from lab to patient and our diverse global supply
chain of numerous local and global third-party vendors. Please see page 19
for more information on Supply Chain Transparency.
Throughout 2023 and beyond, we continue to focus on the right to healthas our most salient human rights issue, with availability, accessibility, andaffordability as key focus areas. Other salient human rights are the principleof nondiscrimination; the right to privacy; freedom from slavery and forcedlabor and other abuses, including child labor; the right to enjoy just andfavorable working conditions; the right to a safe workplace; and the right to ahealthy environment.
In line with the UN Guiding Principles on Business and Human Rights, ourapproach to human rights focuses on risk that could have the most severe
impact on people: our patients, our colleagues, the workers of our business
partners, and the communities in which we operate. We strive to keep ourpolicies up-to-date with our work and the evolving external environment. Ourlatest update reflects our efforts to protect personal data, the right to privacy,
and our principles for the responsible use of artificial intelligence. Read more
about Pfizer's commitment to human rights on our website.

Political Contributions and Lobbying Activities
We understand the impact public policy has on our ability to meet patientneeds and provide value to our shareholders. As such, we actively participate
in dialogue around public policy with lawmakers and stakeholders to
advocate and educate, in addition to explaining our perspectives. We believethat public policy engagement is an important and appropriate role forcompanies to be engaged with in open societies when conducted in a legal
and transparent manner. Our public policy activities focus on helping to build
a constructive discourse in the political and regulatory environment while
supporting policies—and policymakers—who are aligned with our Purpose
and position us to better deliver on these same ideals.

Pfizer 2023 Impact Report

It is important to note that Pfizer’s policy precludes the company frommaking direct independent expenditures in connection with any U.S.
federal or state election. Additionally, all corporate political contributions
are published in the Pfizer Political Action Committee (PAC) and Corporate
Political Contributions Report in compliance with Pfizer’s corporate policy.
Please see the latest report here.
Pfizer is a member of various industry and trade groups that represent boththe pharmaceutical industry and the business community at large to bringabout consensus on broad policy issues. In addition to trade group positions
on healthcare policy issues, we realize these organizations may engage ina broad range of other issues that extend beyond the scope of what is ofprimary importance to Pfizer’s business. If concerns arise about a particularissue, we convey our concerns, as appropriate. We believe there is value inmaking sure our positions on issues important to patients, Pfizer, and ourindustry are communicated and understood within those organizations.
Pfizer issued a report outlining the public policy positions of Pfizer and key
trade associations across six areas of key public policy and ESG significancefor Pfizer. The report also compares Pfizer and the trade associations’positions and describes the degree of alignment and areas of misalignment.
Pfizer’s corporate political contributions and lobbying activities are focusedon promoting the interests of the patients we serve and our company,
without regard to the personal political preferences or affiliations of anyof our colleagues, officers, or board members. The company’s corporate
political contributions and lobbying activities are subject to robust internal
procedures designed to align these efforts with our public policy priorities,
applicable law, and patient-centric agenda. The company has an extensive
training and reporting program in place designed to ensure compliance withapplicable laws and regulations as well as Pfizer’s internal standards.
Please see here for information on our anti-bribery and anti-corruption
program and here for a summary of our Anti-Bribery and Anti-Corruption
Policy.

22

RESPONSIBLE TAX PRACTICES
Fulfilling our tax responsibilities is not only a legal obligation, but also
an important contribution to the communities in which we operate
and part of fostering trust. We are committed to abiding by all tax laws
in the countries in which we operate and paying all taxes due. We
have a zero-tolerance approach to non-compliance with tax laws. Our
Compliance Helpline is available for internal and external parties toraise concerns.
Oversight and responsibility for tax matters lies with our Global Tax
Department, reporting to our Chief Financial Officer. Our robust
policies and procedures—overseen by our Board of Directors andAudit Committee—are designed to comply with all applicable laws
and regulations, and are regularly reviewed and updated to reflectchanging tax landscapes.
Consistent with our commitment to sustainable values, weprioritize tax governance, compliance, planning, risk management,
and transparency. We maintain constructive relationships withgovernmental authorities, recognizing the importance of engaging inopen and transparent dialogue and acting with integrity.
Additional information about Pfizer’s taxes is disclosed in the notes
to our consolidated financial statements, which are subject toindependent audit.

Introduction

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Appendix

Accountability
Right Incentives
We aspire to drive positive social and environmental change in our role asa responsible corporate citizen. Our ESG strategy is designed to leveragecompensation as a key motivator to hold ourselves accountable. For the2023 performance year, the Compensation Committee of the Board selected
three social and environmental KPIs for the ESG Scorecard to tie to ourannual short-term incentive compensation:• Audit Committee

1. Percentage of VP and higher roles held by women (globally)• Compensation Committee

2. Percentage of VP and higher roles held by minorities (U.S.)• Executive Committee

3. Greenhouse Gas Emissions• Governance & Sustainability Committee

The goals set for 2023 as part of the Global Performance Plan (GPP) Program
were also based on our publicly announced longer term goals in these areas.
In addition to being objectively measurable and auditable, we believe these
ESG Scorecard KPIs are holistic drivers of our future success as a company
and are aligned with our strategy. The ESG Scorecard KPIs were factors inevaluating the funding of our GPP Program for over 40,000 eligible global
colleagues and leaders. We plan to continue this approach for the 2024
performance year. Incorporating ESG into our compensation programamplifies our commitment to long-term value creation and sustainability.

• Regulatory and Compliance Committee

In addition, ESG factors beyond the three ESG Scorecard KPIs may also be
included in an individual executive’s performance goals. For additional details
on the GPP Program, refer to the Pfizer 2024 Proxy Statement. Please see
page 41 for more information on our Pay Equity efforts.

Board of Directors and Board Committees
The Board of Directors is elected annually by the shareholders. The primary
responsibility of the Board is to represent shareholders and to enhancelong-term shareholder value. The Board elects the Chairman of the Board,
the Chief Executive Officer, and other members of the senior management
team and acts as an advisor and counselor to senior management andultimately monitors its performance. The function of the Board to monitor

Pfizer 2023 Impact Report

the performance of senior management is facilitated by the presence of amajority of independent, non-employee Directors who have substantive
knowledge of the company’s business. The Board has determined that all of
our current Directors (other than Dr. Albert Bourla) are independent. Pfizer’s
Board Committees are integral to the overall functioning of the Board. The
Board has six committees:

23• Science and Technology Committee
The committees’ charters can be viewed on our corporate website at:
Board Committee Charters.

Board Leadership Structure
In December 2023, following a thorough review by the Governance &Sustainability Committee, the independent Directors evaluated the Board’s
leadership structure taking into consideration the company’s performance
under the current operating and governance environment, executive
leadership changes, and investor feedback. The Committee, with input fromthe other independent Directors, determined that it would be in the bestinterest of the company and its shareholders for Dr. Bourla, Pfizer’s CEO, tocontinue serving as Chairman of the Board in 2024. The Board concluded
that Dr. Bourla’s deep scientific, industry, and regulatory expertise, alongwith his extensive company knowledge, helps enable him to effectively leadthe Board and execute company strategies. The combined role, coupledwith the strong Lead Independent Director, enables the Board to exercise its
independent oversight and be responsive to challenges and opportunities as
they arise.

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Accountability- continued

Board Diversity and Independence
Our Board is composed entirely of independent directors other than our
Chairman and CEO, Albert Bourla, and is diverse. Diversity is defined bygender, age, race, ethnicity, background, professional experience, andperspectives. Each Director provides a unique perspective, experience, andskill set, which creates an effective and well-functioning Board.
To help ensure effective refreshment and proactively manage eventual
vacancies on the Board, the Governance & Sustainability Committee andthe full Board consider a diverse pool of qualified director candidates whenseeking new Directors. Since 2020, three new Directors have joined Pfizer’s
Board, bringing the Board’s average tenure to eight years.

Board Tenure• By mail: Office of the Corporate Secretary, Pfizer Inc.,
66 Hudson Boulevard East, New York, NY 10001-2192.

Average Tenure

Board Diversity

0 to 5 Years

4

Female4 of 12 Directors

Ethnically Diverse

Key Skills
and Experience5

3 of 12 Directors

9

Business Leadership and Operations
International Business6

Medicine and Science

6

Healthcare and Pharma

6

Finance and Accounting

6
5

Risk Management

Pfizer 2023 Impact Report

8 years3

10+ Years
6 to 10 Years

Shareholders and other stakeholders may communicate with any of our
Directors, including the Lead Independent Director and the Audit Committee
Chair, as follows:• By email: https://investors.pfizer.com/Investors/CorporateGovernance/Contact-Our-Directors/default.aspx.

12
Total Number of Directors
on the Board

Board Composition

Academia

4

Human Capital Management

4

Government and Public Policy

3Technology and Cybersecurity

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Environment

SocialESG Performance

Appendix

The health of our global environment impacts everyone. At Pfizer, we are committed to reducing
our environmental footprint. Our company Purpose guides our environmental priorities, with afocus on impact reduction, conservation of resources, and the minimization of waste arising fromour operations.

26 - Climate Change
Reducing Emissions from Our Operations
Proactive External Engagement
Understanding How Climate Change Could Impact Our BusinessAccelerating Action Across Our Supply Chain

How our approach to environmental sustainability
supports the Sustainable Development Goals
Industry, Innovation, and Infrastructure
We promote resilient and sustainable infrastructure, scientificresearch and innovation.

Responsible Consumption and Production
We aim to achieve environmentally sound life cycle
management and adopt sustainable practices.

29 - Sustainable Medicine
Pharmaceuticals in the Environment
Waste
Water StressClimate Action
Through our goals we are taking urgent action to help combat
climate change and its impacts.

Biodiversity

More information on the SDGs here.

Pfizer 2023 Impact Report25

Introduction

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SocialAppendix

Climate Change
We recognize global climate change as one of the defining
issues of our time, requiring collective action to mitigate thepotential risks it poses. Such risks include the potential forincreased adverse impacts on human health and decreased
access to critical medicines and vaccines due to disruptions
in value chains caused by the greater frequency of severe
weather.
Pfizer is continuing its near-term commitment to reduce company
greenhouse gas (GHG) emissions by 46% compared with a 2019 baseline,aligned with a 1.5⁰C trajectory, and to drive action by encouraging suppliers
to also set science-based GHG emissions reduction goals. We have further
committed to reduce GHG emissions by working to achieve the voluntary
Net Zero Standard by 2040, ten years earlier than the timeline described in
the standard. By 2040 Pfizer aims to decrease its company GHG emissions
by 95% and its value chain emissions by 90% from 2019 levels by reducing
the energy demand of our operations, transitioning away from fossil fuels,
sourcing renewable electricity, and engaging suppliers to catalyze equivalentaction. We are also pursuing Science Based Targets initiative (SBTi)
validation of our Net Zero target.
Pfizer was one of the initial signatories to the U.S. Department of Health andHuman Services (HHS) climate pledge. The pledge, launched in 2022, callson stakeholders in the U.S. healthcare system—including hospitals, healthsystems, payers, suppliers, and pharmaceutical companies—to reduce
GHG emissions and build a more climate resilient healthcare infrastructure.
By signing, we committed to reduce GHG emissions, publicly report ourprogress, and develop a climate resiliency plan.

Pfizer aims to achieve a 95% reduction in company (Scope 1 and 2) GHG emissions and a 90% reduction in value chain (Scope 3) emissions by 2040,
compared to our 2019 baseline. Our near-term targets are outlined below:

TargetProgress

Reducing Scope 1 and 2 GHG emissions by 46%
from a 2019 baseline by 2030

Scope 1 and 2 GHG emissions in 2023 were 3.5% lower than 2022. Emissions for 2023 were 13.9%
lower than the 2019 baseline.

Sourcing 80% of electricity from renewables
by 2025, and 100% by 2030

Pfizer sourced 10% renewable electricity in 2023. Pfizer has entered into virtual power purchaseagreements (VPPA) covering North America and the EU. These projects, expected to come online in
2025, will cover approximately 68% of Pfizer’s electricity needs (as measured against 2023 electricity
consumption).

Reducing emissions from upstream transportationand distribution by 10% and from business travel by 25%
by 2025 from a 2019 baseline

Emissions associated with upstream transportation and distribution were 31% lower than in 2022 and
22% higher than the 2019 baseline. We continue to look for opportunities to move product shipmentsfrom air to ocean and are working with our logistics providers to transition to low emission fuels andvehicles where possible.
Travel-related GHG emissions were 55% lower than the 2019 baseline. We have implemented tools to
help business travelers make informed decisions about travel options. This includes using digital tools tolimit travel and using preferred carriers that are advancing GHG reduction targets.

Working to accelerate change across our supply chain,
driving 64% of our suppliers of goods and services byspend to also set science-based GHG emission reduction
goals by 2025

Environmental data included in this report may include certain estimates and assumptions given data availability at the time of publication. Our finalized 2023 data with additional details will be published on
Pfizer’s Environmental Sustainability page. Does not include Seagan Inc. data.

Pfizer 2023 Impact Report

Currently 51% of our suppliers by spend have or have committed to develop science-based GHG
emissions reduction targets.

26

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Climate Change- continued

Reducing Emissions from Our Operations
As part of our efforts to reduce our overall environmental footprint
globally, our manufacturing and R&D sites are aligning their environmental
sustainability masterplans with our 2040 Net Zero ambition. We seek
opportunities to design new facilities or renovation projects with reduced
environmental impact (such as energy consumption, water usage, andwaste management) so we can reduce resource demand. For example, a
new utilities building at our Kalamazoo, Michigan, location received LEED®
certification; a new manufacturing building at our site in Newbridge, Ireland,
was awarded LEED® Silver; and our New York headquarters received LEED®
Platinum certification.
In 2023, Pfizer adopted the My Green Labs (MGL) Certification program at
our Cambridge, Massachusetts, site to facilitate engagement of laboratorybased colleagues in environmental stewardship with the aim of accelerating
GHG emissions reductions in our R&D operations. The MGL Certification
program has been recognized by the UN Race to Zero campaign as a key
measure of progress toward a zero carbon future. A total of 19 laboratories
across five of Pfizer’s research sites in Cambridge, Massachusetts, Boulder,
Colorado, Groton, Connecticut, Pearl River, New York, and Andover,
Massachusetts, received MGL Certifications in 2023.
Pfizer invests in no- / low-carbon technologies at our sites and throughpower purchase agreements (PPAs) that enable sourcing of renewableenergy. In 2023, we signed virtual PPAs (VPPAs) for four new solar projects
in Spain that will collectively cover all of Pfizer’s purchased electricity in theEuropean Union. These EU VPPAs, along with the North America VPPA we
signed in 2021, are key steps in our plan to achieve our RE100 goal of 100%
renewable energy by 2030 and the voluntary Net Zero Standard by 2040.
When the North America and EU VPPA solar projects come online, they are
expected to cover approximately 68% of Pfizer’s global electricity needs as
measured against 2023 electricity consumption.
Pfizer’s fleet of vehicles, the majority of which are used by our commercial
teams to facilitate education and engagement with healthcare providers,accounted for approximately 0.5% of our total Scope 1 and 2 GHG emissions
in 2023. Pfizer is working to advance fleet sustainability through transitioning

Pfizer 2023 Impact Report27

to battery electric vehicles (BEV) and, where feasible, other low-emission
vehicle options, and by supporting fuel management and efficient driving
choices for internal combustion vehicles until they can be retired. Ourtransition to BEV has started in nine markets, with 437 BEVs currently in use
and an additional 40 BEVs ordered. We plan to expand BEV implementation
to additional markets in 2024 and beyond.

Proactive External Engagement
Tackling climate change requires action from all parties across all sectors,
and Pfizer urges governments both in the U.S. and abroad to establish
ambitious climate policies to stabilize global temperature rise at 1.5°C.
For additional information on Pfizer’s climate action program, please see our:• Climate Change Position Statement• 2023 CDP Climate Change Response

Understanding How Climate Change Could Impact Our
Business
We are committed to transparency in evaluating the risks and opportunities
that climate change may present to our business. To meet this commitment,
we incorporate the Task Force on Climate-Related Financial Disclosures(TCFD) framework into our ERM governance process and voluntarily reportclimate-related risks and opportunities. See our TCFD Report on page 76.

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Climate Change- continued

Accelerating Action Across Our Supply Chain
Recognizing that our Scope 3 (value chain) GHG footprint is approximately
four times that associated with our direct operations, Pfizer has been driving
action throughout our value chain to help address the complex threat ofclimate change. Procurement of goods and services, which is essential toproducing medicines and vaccines, is the most significant contributor to
our Scope 3 emissions. We therefore expect all our suppliers to commit
to ambitious, science-based GHG reduction targets and have integrated
environmental criteria in our supplier sourcing, contracting, and performance
management processes.
In 2023 we conducted a virtual supplier summit to communicate our
expectations and provide resources to assist suppliers in progressing
climate action. To support suppliers in their decarbonization journey,
we encouraged energy PPA education through the Energize programand offered sponsorships for the Activate program, a collective initiativethat targets sustainability / GHG emission improvements at active
pharmaceutical ingredient (API) suppliers including Contract Manufacturing
Organizations. As a result of our engagement efforts, 51% of our suppliers ofgoods and services by spend have committed to science-based emission
reduction targets, an increase of 22% compared to 2022.
We have also continued to make progress in reducing emissions associatedwith upstream transportation and distribution. We worked internally to
educate over 1,500 logistics colleagues on environmental sustainability
principles and to improve data and analytics across all markets where Pfizer
operates. We continued to transition shipments from air to ocean where
possible and engaged with our third-party logistics providers to identify
and invest in opportunities to use low emission fuels and vehicles to deliver
our medicines to markets around the world. We began working with one of
our transporters to pilot the use of electric trucks to decarbonize shipments
in some U.S. markets and are working to decarbonize all full truckload
shipments within Europe.

Pfizer 2023 Impact Report

28

SUPPLIER ENGAGEMENT RECOGNITION
Pfizer has been recognized by CDP as a Supplier Engagement Leader
for six consecutive years for our work to reduce environmental risks inour supply chain.

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Appendix

Sustainable Medicines
Pfizer has a long history of using the concepts of green
chemistry and promoting them across the industry. Throughscientific innovation we strive to design more efficient
processes that can reduce the environmental impact of our
medicines throughout the product life cycle. To expand on
this, we are integrating sustainable product design principles
within our R&D processes. We aim to positively impact ourenvironmental performance by systematically conserving
energy, reducing water and raw materials usage, driving out
waste, and embracing circular solutions where possible. The
principles also serve to educate and inform our colleagues,
define key metrics and performance targets, and encourage
innovation through collaboration and partnerships.

In 2022, we began conducting representative life cycle assessments(LCAs) for small molecules, large molecules, vaccines, and devices to help
identify those aspects of the development process that present the greatest
opportunity for impact reduction. We progressed a number of LCAs in
2023, including the first for an mRNA vaccine, to add to our understandingof the impact of our products. The data generated from these assessments
is shared with our scientists, researchers, and engineers to help support
sustainable innovation and impact reduction.

which officially launched in June 2023. Pfizer is pursuing opportunities with
our internal network, suppliers, and contract manufacturers to implement
certification of our antibiotic products. Our efforts to promote adherence
to voluntary discharge limits across our supply chain were recognized in areport published by the Access to Medicine Foundation that assesses steps
that pharmaceutical manufacturers are taking to curb the development andspread of AMR (AMR Report on Responsible Manufacturing, August 2023).

In 2023, Pfizer joined a consortium with seven other pharmaceutical peers
to establish a consistent framework for conducting LCAs of pharmaceuticalproducts, aimed at defining environmental product category rules for
medicines, potentially for a publicly available standard.

Waste

Pharmaceuticals in the Environment
Pharmaceuticals in the environment and antimicrobial resistance(AMR) continue to be important environmental issues for our industry.
Pfizer is committed to limiting discharge of APIs to wastewater fromour manufacturing processes using environmental risk assessment
methodologies and emission control practices and technologies. As an
active member, Pfizer follows the best practices in the AMR Industry
Alliance’s (AMRIA) Antibiotic Manufacturing Standard. We are working
toward our goal of achieving the industry published targets (Predicted No
Effect Concentrations) for antibiotics by 2025 and are piloting innovative
wastewater management and treatment practices at several sites toadvance our management of wastewater discharges.
In 2023, Pfizer continued to participate in the development of thecertification program designed to demonstrate implementation of AMRIA’s
Antibiotic Manufacturing Standard through an independent third-party
certification body. In collaboration with BSI Standards Limited, Pfizer
participated in assessments to pilot the certification process at one of our
API manufacturing sites and one of our contract manufacturer antibiotic drug
product sites. These assessments indicated compliance with the AMRIAStandard and both sites were recommended for certification. Additionally,learnings from these pilots were used to shape the certification program,Pfizer 2023 Impact Report

29

Central to our sustainable medicines program is the minimization of waste
across our sites globally. We pursue process improvements in our research,development, and manufacturing operations through next-generation design
projects and the implementation of green chemistry and other sustainability
practices. Pfizer sites are expected to consistently seek opportunities toreduce, reuse, repurpose, and recycle materials such as packaging andplastics. We use an internal performance metric based on hierarchy ofcontrol principles (avoid, reduce, reuse, recycle, dispose) to drive waste
handling decisions and promote minimization. In 2023, we introduced
an initiative to minimize waste sent to landfill from our manufacturing
sites. We demonstrated our objective of landfill avoidance by sending theapproximately 8.6 million kilograms of waste resulting from the July 2023
tornado that impacted our Rocky Mount, North Carolina, site to waste-toenergy facilities. Since 2019, we have reduced the quantity of waste fromroutine operations sent to landfill by over 5.4 million kilograms.
Pfizer participates in the Pharmaceutical Product Stewardship Work Group(PPSWG) in the U.S. and MEDSdisposal in Europe to help enable proper
disposal of unused medicines.

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Sustainable Medicines- continued

Pfizer 2023 Impact Report

Water Stress

Biodiversity

The availability of and access to clean water is a basic human need globallythat must be addressed locally. Pfizer’s Water Stewardship position
statement describes our commitment to being good stewards of the water
we use to make medicines and vaccines, particularly in water-stressed areas.
To this end, we completed water stress assessments at all Pfizer sites to
identify water quality, scarcity, and availability risks across our network andare developing action plans for sites with elevated risk scores. These plansinclude elements such as quantifying water use, implementing mitigationplans and establishing water conservation targets, protecting water quality,
improving wastewater treatment where necessary, evaluating recycling
practices, and engaging with surrounding communities. We will measureprogress at our internal sites while engaging with our key suppliers in waterstressed areas to encourage them to develop and implement similar actionplans.

Pfizer is evaluating our potential impacts and dependencies on nature andbiodiversity to further our understanding and address growing stakeholder
expectations. In 2023, we completed biodiversity risk assessments for our
manufacturing and R&D sites and are developing mitigation plans for sites
located in sensitive areas as defined by the World Wildlife Fund Biodiversity
Risk Filter tool to minimize the impacts of our operations on local habitats
and native species.

30

Several of our sites have active biodiversity teams who work with local
communities on a variety of habitat restoration and conservation activities
appropriate to the local surroundings, including dedicating areas tobiodiversity improvements and preservation. In 2023, we introduced
an internal initiative to increase native biodiversity on sites undergoingsignificant construction or renovation, including by working with local
ecologists and consultants to create biodiversity and habitat improvement
strategies.

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Appendix

At Pfizer, our Purpose is rooted in achieving social good. We know that when we succeed, ourbreakthroughs can potentially have life-changing effects. We aim to address illnesses fromwidespread infectious diseases to conditions with historically unmet need.
Pfizer is mindful of the urgency of our mission, as the world fights against the spread of deadly
new diseases and struggles with inequities in health outcomes among populations. Our
goal is to leverage partnerships and programs to allow quick and widespread access to ourbreakthrough medicines and vaccines around the world.
32 - Innovation and Global Health
Product Innovation
Our Innovations are Guided by Patient Needs

34 - Equitable Access and Pricing
Healthcare Infrastructure
Global Health System Strengthening
Product Donations
Patient Centricity

How our approach to social issues supports the SDGs
Good Health and Well-Being
We aspire to ensure health and well-being for all at all ages throughequitable access to medicines and vaccines.

Gender Equality
We aim to end discrimination against women, ensure equal
opportunities for leadership and access to reproductive health.

Decent Work and Economic Growth
We promote inclusive and sustainable economic growth,
employment, and decent and safe working environments.

38 - Our People

Reduced Inequalities
We empower and promote the social and economic inclusion of all,irrespective of age, sex, disability, race, ethnicity, origin, religion or
economic or other status.

Colleague Engagement
Growth and Development
Health, Safety, and Well-being
Colleague Wellness
Diversity, Equity, and Inclusion (DEI)
Partnerships
Enterprise Colleague Resource Groups

Partnerships for the Goals
We are working to create new partnerships to help attain relevant
sustainable development goals.

Pay Equity
Opportunity Parity
External Recognition

Pfizer 2023 Impact ReportMore information on the SDGs here.

31

Introduction

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SocialInnovation and Global HealthAs the global health landscape continues to evolve, so do
we, making innovation one of our greatest tools as we aim to
uncover new combinations, designs, and advances to help
address an array of challenges. But medicinal solutions are
only part of the equation: getting vaccines and therapies
to patients who need them, regardless of location, requires
innovation in delivery systems.
Pfizer focuses on both aspects of innovation by investing in
the right people and partnerships. Pfizer colleagues continue
to break barriers in the discovery and delivery of treatments
and solutions with a relentless focus on providing forunderserved and vulnerable communities around the world.
Our strategic public and private partnerships allow for reachand scale when key players are brought together.

Product Innovation
At Pfizer, we measure ourselves by our pursuit of breakthroughs that change
patients’ lives. This means prioritizing innovation and accelerating ourefforts to bring solutions to those who need them. Our acquisition of Seagen
Inc. helps position us to accelerate the next generation of breakthroughtreatments for people with cancer.
Looking ahead, our current pipeline as of January 30, 2024, consists of 1121
programs in development (from Phase 1 through registration) and reflects
how we empower our scientists to work efficiently and with an emphasis
on quality. Reduced cycle times, while continuing our focus on safety
and quality, can help get our breakthroughs to patients faster, potentiallyaddressing more unmet needs.
In 2023, we achieved an end-to-end success rate of 17%—from first-inhuman (FIH) to approval at a new molecular entity (NME) level—which isnearly 10 times our 2010 performance.
Our Purpose Blueprint sets forth a new ambition to change a billion lives
a year by 2027. This ambition focuses on the patient and how many lives
we can impact. Our core business principles recognize that Time is Life,encouraging us to develop medicines at lightspeed, and that Trust isEverything, continuing to prioritize quality, safety, and integrity.

DIGITAL INNOVATIONGreater social impact is the result of our focus on excellence andproductivity as we get more life-changing medicines into the handsof patients at a faster rate. Pfizer responsibly leverages digital, data,
artificial intelligence, and machine learning as a complement tohuman insights to accelerate innovation in the interest of patients atevery step—from discovery to clinical development, manufacturing,
distribution, and commercialization—and to enable our clinical,
logistics, and other experts across the business to spend more of theirefforts developing and delivering breakthroughs that change patients’
lives.
1

Includes Seagen Inc. data.

Pfizer 2023 Impact Report

32

ESG Performance

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AppendixInnovation and Global Health- continued

Oncology

Hematology

Pfizer has deep scientific and biologic understanding in oncology, thestudy and treatment of cancer, which impacts millions of lives every
year. Pfizer’s acquisition of Seagen Inc. demonstrates our commitment
to discovering and developing medicines that significantly improve andextend the lives of people with cancer. As an example, we are proud
to focus on treatment for multiple myeloma (MM), an aggressive andcurrently incurable blood cancer that affects plasma cells made in thebone marrow. MM is the second most common type of blood cancer,
with over 35,000 new cases diagnosed annually in the U.S. and 176,000
globally.

Pfizer is continuing efforts to better understand and treat patients affectedby blood-related diseases, including anemia, leukemia, sickle cell disease,and hemophilia, which can lead patients into a lifetime of serious healthconcerns, including chronic pain, blood clots, and various cancers.

Vaccines
Pfizer is working to deliver breakthroughs in vaccines against invasive
pneumococcal disease in infants and children and against respiratorysyncytial virus (RSV). RSV is a contagious virus that can be dangerous for
infants and older adults and can cause severe respiratory infections.

Our Innovations are Guided by Patient Needs
We are focused on advancing science and innovation for patients intherapeutic areas including the following:

Alopecia Areata
We look forward to seeing how our work may transform the lives of
those who live with severe alopecia areata, an autoimmune diseasecharacterized by patchy or complete hair loss on the scalp, face, or body.
This disease impacts approximately 147 million people globally, across allages, genders, races, and ethnicities, and can cause considerable burden
beyond hair loss.

Ulcerative Colitis
We are working to combat ulcerative colitis, a chronic and often
debilitating condition that affects an estimated 1.25 million people in
the U.S. Symptoms can include chronic diarrhea with blood and mucus,
abdominal pain, and urgency; the disease’s impact can span beyond thephysical to other aspects of life due to the chronic and unpredictable
nature of symptoms.
Pfizer 2023 Impact Report

33

ANTIMICROBIAL RESISTANCE (AMR)
A core pillar of our product innovation work is our effort to help slow the
spread of antimicrobial resistance (AMR). AMR is one of the biggest
threats to global health as it can make infections harder to treat,increasing the risk of disease spread, severe illness, and death. As
many as 10 million people could die annually from AMR by 2050.
Pfizer’s recognition in the 2023 Access to Medicine AMR Benchmark
reflects our industry-leading and multi-faceted approach to combat
AMR, which includes our own product pipeline, active stewardship,
infrastructure investments, and comprehensive tracking. Pfizer was
listed as one of the companies that have shown progress against theopportunities brought forward by the Access to Medicine Foundation,
which is a reflection of our commitment to developing products that
improve patients’ lives.

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Equitable Access and Pricing
At Pfizer, we measure ourselves not just by the creationof breakthrough medicines and vaccines, but by theaccessibility of those critical innovations within populations
in need. Our vaccines and medicines cannot benefit patients
if they cannot access or afford them. To change patients’
lives, Pfizer applies a modernized approach to access,focused on affordability and delivery for patients with thegreatest coverage gaps and out-of-pocket exposure. As
a result of these efforts, in 2023, more than 600 million
patients were treated and / or vaccinated by a Pfizer
product.

Affordability is a long-term commitment and is embedded in our systems,
incentives, and operating model. Pfizer’s broad-based core methods
to help reduce the number of people who cannot afford our medicines
include:• Advocating with payers, governments, and others in the healthcare
system on behalf of patients to identify and relieve financial burdens.
• Patient assistance and donation programs when insurance orreimbursement systems are unable to provide affordable access to our
medicines.
• Innovative financing mechanisms, including differential pricing,
microfinancing, subscription models, and flexible payment options, to help
reduce out-of-pocket costs for patients on a sustained basis.
• New technologies that reduce barriers to care and digital wallets with thepotential to pass rebates directly to patients at the point of sale.

AN ACCORD FOR A HEALTHIER WORLDOne example of Pfizer’s commitment to patient access is the Accord
for a Healthier World, which is focused on closing the health equity
gap that persists between wealthy nations and many lower-income
countries. Through the Accord, Pfizer aims to provide access to thefull portfolio of medicines and vaccines for which we have global
rights—both current and future products—on a not-for-profit basis
to 1.2 billion people living in 45 lower-income countries around theworld. But this is only one step toward closing the health equity gap.
To help ensure treatments reach patients in need, the Accord also
aims to work alongside governments and multi-sector partners to
help address the system-level barriers that limit or prevent access toquality healthcare.

Pfizer 2023 Impact Report34

We also engage in global commercial access partnerships withorganizations like Gavi, the Vaccine Alliance. During our 13-year
partnership we are proud to have supplied nearly 900 million doses ofPrevenar 13® to more than 50 low- and middle-income countries, helping
provide access to pneumococcal conjugate vaccines on an accelerated,affordable, and sustainable basis. Approximately 57% of the Prevenar 13®
supply goes to support vaccine programs in Gavi-eligible nations. Pfizer
remains fully committed to collaborating with Gavi. We have extended
our current agreement through 2030 and anticipate that we will supply
approximately 740 million doses during this period.
In the bi-annual Access to Medicine Index released in 2022, Pfizer led in
the governance of access category for an integrated access-to-medicine
strategy and board-level responsibility. Pfizer also showed improvement in
the R&D category, which focuses on products companies are developing
to target certain diseases with disproportionate impact in low- and middleincome countries as well as access plans companies have for theseproducts.
Pfizer looks to leverage digital platforms and technologies prevalent intoday’s world to introduce effective and scalable solutions that address
specific patient needs. This includes support programs that aim to improve
quality of care and convenience, as well as reduce the burden of ongoing,high-cost care. IUdo, Pfizer’s digital solution, offers a standardized andsecure platform to streamline processes for third parties managing Pfizer
support programs, combined with a mobile app for patients. In 2023,
IUdo was released in Mexico and Peru and continues to be available in
Egypt, Lebanon, and Qatar, with plans to expand to other countries acrossEmerging Markets in 2024. The IUdo digital application aims to addresspatient accessibility barriers and support patient program journeys bysimplifying the process and offering available financial support to patients
through their mobile phone.

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Equitable Access and Pricing- continued

Patients Treated in 2023
(including COMIRNATY® and PAXLOVID®)1
Traditional Channels

525.2mU.S. Patient Assistance Programs

59k

Ex-U.S. Access and Affordability
Programs

1.0m

Global Commercial Access
Partnerships

42.5m

Product Donation Programs

49.7m

Healthcare Infrastructure

Global Health System Strengthening

Pfizer embraces that healthcare is more than the development of
medicines and vaccines. Governments, civil society, the private healthsector, and communities play a critical role in facilitating access tohealth innovations by establishing and strengthening local healthcare
infrastructure.

Through global initiatives, The Pfizer Foundation focuses its strategy on
strengthening health systems to better address vaccine-preventable
illnesses and infectious disease.

Through The Pfizer Foundation2, we make investments that seek toimprove health systems and increase access to quality healthcare forunderserved populations, in the U.S. and around the world. We havedoubled down on solutions that are evidence-based and aligned withgovernment health priorities.
As part of our commitment to advance health equity, The Pfizer
Foundation’s ‘Accelerating Health Equity’ Grant Program supports
efforts to reduce health disparities and improve health outcomes in Black
communities in the U.S. using a social determinants of health framework.
The program is supported by 15 community-based organizations todevelop and lead solutions that help address leading causes of disparate
health outcomes. Since the program launched in 2021, it has reached morethan 1,000,000 people with healthcare services, information, or support,
including efforts to empower people with health knowledge, increase
access to direct health services, and provide patients and communities
with stronger social support. This program also trained more than 950
community health workers and strengthened more than 3,700 healthfacilities in the U.S.
In 2023, in partnership with humanitarian aid organization Direct Relief,
The Pfizer Foundation launched a new grant program that provided grants
to 19 U.S. safety-net community healthcare providers to improve access,increase outreach and education, and promote screening, testing, andtreatment for vaccine-preventable infectious diseases among medicallyunderserved populations. Assisted by the grants, these health centers areundertaking approaches to create greater equity, including mobile vansand pop-up clinics, telehealth technology, and electronic health records tostandardize care.

12

Refer to our ESG Performance section for additional details on these figures.
The Pfizer Foundation is a separate legal entity from Pfizer Inc. with distinct legal restrictions.

Pfizer 2023 Impact Report35

Launched in 2016, the Global Health Innovation Grants program works
to support innovative health delivery models in low- and middle-income
countries. These projects help test and scale community-based initiatives
addressing global health challenges and allow the Foundation to makewide-reaching impact in the prevention and treatment of infectious
disease. Since the program’s launch in 2016, The Pfizer Foundation has
supported 42 organizations in 28 countries across Asia, Africa, and Latin
America. These efforts have helped to improve access to quality healthservices for more than 10 million people, trained more than 135,000 healthworkers, and established more than 1,800 new points of care.
In partnership with healthcare nonprofit Amref Health Africa, The Pfizer
Foundation is supporting projects that help improve access to essential
healthcare including vaccines for underserved communities in Malawi,
Senegal, Uganda, and Zambia. The grant funding provided by The Pfizer
Foundation includes efforts to support community-based interventions,train community health workers, and integrate the delivery of critical
vaccine services into routine primary care.

Product Donations
Product donations are an integral part of Pfizer’s work to help ensure
patients around the world have access to vital medicines that improvetheir lives. The COVID Treatment Quick Start Consortium, which began
in late 2022, is a partnership between Pfizer and organizations such as
Duke University, the Clinton Health Access Initiative, and Americaresthat seeks to provide COVID-19 antiviral treatments in low- and middleincome countries and partner with governments to improve the treatmentof COVID-19 for populations that need it. As a program sponsor, Pfizer
donated Paxlovid® doses as well as financial and scientific expertise tosupport the Quick Start Consortium’s objectives.

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Equitable Access and Pricing- continued

Pfizer Inc. Programs Supporting Equitable AccessInternational Trachoma Initiative

Contraceptive Access in Low- and Lower-MiddleIncome Countries

Thermo Fisher Partnership

In 1998, Pfizer and the Edna McConnell Clark Foundation co-founded
the International Trachoma Initiative (ITI), a nonprofit dedicated to helping
eliminate trachoma, the leading infectious cause of blindness worldwide.
The ITI, which has been a program of independent nonprofit The Task
Force for Global Health since 2009, manages Pfizer’s donated antibiotic
and collaborates with governments and partners to implement the World
Health Organization’s (WHO) recommended strategy to prevent, treat, andultimately eliminate trachoma as a public health problem.

Pfizer, The Bill & Melinda Gates Foundation, Children’s Investment FundFoundation (CIFF), and Becton, Dickinson & Company (BD) have expanded
their collaboration to provide millions of women in low- and lower-middle
income countries with greater access to injectable contraceptives. The
partnership, which has been ongoing for almost a decade, is expected todeliver over 320 million doses of Pfizer’s Sayana Press® through 2030.
Twenty-three new eligible countries have been added to the program,bringing the total to 92.

Pfizer and Thermo Fisher Scientific joined forces in 2023 with the aim to
help increase access to next-generation sequencing (NGS)-based testing
for lung and breast cancer patients in over 30 countries across Latin
America, Africa, the Middle East, and Asia. Access to local NGS testing
can help provide faster analysis of genes associated with cancer, enabling
healthcare providers to select the right therapy for individual patients in amore timely manner.

Photo Credit: Sala Lewis / International Trachoma Initiative

Photo Credit: PATH

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Equitable Access and Pricing- continued

Collective (PALC). See our spotlight story to learn more about PALC on
page 11.
In October 2023, we hosted our annual Patients in Focus Week with thetheme “All In for All Patients.” Throughout the week, more than 50,000
Pfizer colleagues across 36 countries came together to hear patient
stories, showcase impactful patient advocacy and engagement efforts,
and complete activities that seek to better the lives of our patients aroundthe world. Patients in Focus Week kicked off with a global town hall with
Pfizer leadership, patients, and advocates discussing patient challenges
and the importance of collaboration to address them.
Colleagues, patients, advocates, and caregivers participated in over 100
events throughout the week. Some highlights from around the world
include:• Pfizer Brazil welcomed dozens of young cancer patients and theircaregivers to spend an afternoon with colleagues at the Pfizer office for a
day of mentoring and dialogue around social experiences and job seeking.
• Colleagues from Pfizer’s Collegeville, Pennsylvania, site heard personal
testimonies from several alopecia areata patients and then joined the“Walk for Alopecia” with the National Alopecia Areata Foundation.

Patient Centricity
Patients are at the center of everything we do at Pfizer. We aim to embed
the patient perspective in our work from the earliest stages of research tothe final approval and use of our medicines and vaccines. To accomplish
this, Patient Engagement Leads across Pfizer develop strong andsustainable partnerships that enable trusted, enduring connections withpatients and advocates. For example, Pfizer has assembled a group of U.S.
Pan Therapeutic Patient Centricity Advisers, as well as a group of Global
Patient Centricity Advisers. Both groups represent a diverse collection ofPatient Advocacy leaders who educate Pfizer colleagues on patient trends
and issues, provide input on patient-focused programs and resources, andco-develop approaches to measure progress on behalf of patients.
In 2023, in collaboration with this group of leading patient advocatesfrom around the world, Pfizer launched the Patient Advocacy Leadership

Pfizer 2023 Impact Report• Pfizer Turkey colleagues spent the day volunteering, designing bracelets
and bags for hospital patients and even participating in a magic workshop
conducted by experts at the Theodora Foundation (Children’s Services
Association) to help provide cheer and joy for pediatric patients.
• Pfizer Japan invited Patient Advocacy Group leaders supporting patients
across diverse conditions to meet with colleagues to discuss issues facedby patient communities today and how we can best partner to support
them.
During Patients in Focus Week, and all through the year, Patient
Engagement Leads are committed to building programs and fostering
partnerships aimed at improving patient outcomes—whether helping
to increase patient engagement in research and development, diversify
clinical trials, develop patient-friendly educational materials and patient
support programs, or elevate priority policy and social impact issues.

37

In a continuation of Pfizer’s inaugural 2022 Health Equity in Action
Summit, the Multicultural Health Equity Collective worked withstakeholders from the event to co-develop An Action Guide to Disrupt
Inequitable Health Outcomes. This guide serves as a practical resourcethat builds on insights gained during the summit and offers actionable
solutions for addressing inequities in four critical areas: Healthcare
Facilities and Delivery, Workforce Pathways, Research & Data, andPolicy.

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Our People
Our ability to successfully deliver on our Purpose isdependent on our people, particularly during times ofchange. We seek to prioritize the health and wellness of ourcolleagues and work to create an environment where Pfizer
colleagues can do their best work to further our Purpose.

Colleague Engagement

We engage our colleagues throughout their experience,bringing a people-centric approach to everything fromrecruiting, benefits, and compensation, to growth, inclusion,
our workplace, and communication.

We understand the significance of leadership and its crucial role inpromoting growth and delivering breakthrough results. We have developed
a new leadership profile that aligns with our core values. This renewed
focus on leadership applies to all colleagues, empowering them to fostertransformational thinking and executional excellence. By embracing
leadership qualities, Pfizer can help ensure that its leaders and colleagues
are aligned to the company’s values, behaviors, and Purpose, ultimately
leading to better outcomes and a positive impact on the lives we touch.

At Pfizer, fostering a positive colleague experience is a top priority,
particularly during periods of business transformation. Pfizer works tocultivate an environment that nurtures professional and personal growth,
provides equitable opportunities, and encourages innovation.

As part of our commitment to performance, colleague engagement, andequity, we prioritize open communication and feedback. Pfizer managers
discuss colleague performance and leadership assessments regularly andformally twice annually with the intent to encourage breakthrough goals
and foster leadership. However, we understand that communication goes
both ways. Continuously listening and responding to colleague feedback isessential to fostering a healthy work environment with the power to attract
and retain top talent.
We are passionate about creating safe spaces at work so our colleagues feelable and encouraged to provide the company with feedback. The Office of
the Ombuds is a resource colleagues at any level can connect with to get
information and guidance to help them address and resolve work-related
issues. We also host company-wide safe space calls and provide various
other public, private, and anonymous channels for colleagues to share
feedback without fear of retaliation.

Pfizer 2023 Impact Report38

Our annual engagement survey, Pfizer Pulse, provides a forum for ourcolleagues to give structured feedback and allows us to measure and track
priority areas and equip leaders with actionable insights.
In addition to our annual engagement survey, we ask for feedback atvarious points in the employee lifecycle through focus groups, surveys, andcolleague forums. The information we receive helps enable us to adapt to
the real-time needs of our colleagues and continuously improve our ways ofworking.
In 2023, we developed and tested a new approach that aims to expedite
decision-making, provide clarity in roles and responsibilities, enhance
governance, redefine the role of a leader, and ultimately improve overall
team productivity and performance. This new way of working signifies ourcommitment to becoming a more dynamic organization that thrives oncollaboration and agility.
In addition, Pfizer prioritizes colleague recognition to drive engagement, a
sense of belonging, motivation, and productivity. Our global rewards andrecognition program, Bravo, lets colleagues celebrate and acknowledge
each other for demonstrating Pfizer values in a way that makes an impact on
the company, a colleague, a team or a patient. In 2023, 84% of colleagues
were recognized, and more than 650,000 recognitions were given.
To support our commitment to colleague engagement and recruiting top
talent, Pfizer has developed a new Employee Value Proposition (EVP) called“Use Your Power for Purpose.” EVP aims to inspire and motivate colleagues
and prospective employees by emphasizing the meaningful impact they canmake through their work at Pfizer.

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FREEDOM OF ASSOCIATIONAND COLLECTIVE BARGAINING
Pfizer is committed to upholding the principles of human rights,
including our colleagues’ right to freedom of association andcollective bargaining. We are committed to adherence to the laborlaws of each country in which we operate. We understand thesignificance of freedom of association in the workplace and support
our colleagues’ rights to join associations of their choice.

Growth and Development
By prioritizing the ongoing development of our colleagues, we not only
support their individual success but also cultivate a resilient and adaptable
workforce that can thrive in the face of change. As we navigate the evolving
landscape of our industry, we recognize that providing our colleagues with
opportunities for learning, skill-building, and growth is essential to their
engagement, productivity, and overall job satisfaction.
In times of business transformation, when uncertainty can be prevalent,
investing in career growth and development sends a powerful message to
our colleagues. It reaffirms our commitment to their professional well-being,demonstrates our belief in their potential, and supports them in being
motivated, agile, and equipped with the necessary skills to tackle newchallenges and seize emerging opportunities.
Our commitment to career growth is reflected in our refreshed Global Growthand Talent strategy, launched in 2021. Since then, we have modernizedand expanded our commitment to our colleagues by introducing newopportunities for learning and career advancement.
In 2023, we set the expectation that managers have growth conversations
with each of their direct reports to align on their growth aspirations andidentify actions to support that growth. Embracing a collective talent
mindset, we deepened our efforts to capture talent data in our human capitalmanagement system for colleagues above a certain level. By analyzing
this data, People Leaders can plan for future leadership and critical roletransitions, design personalized growth experiences, and help ensure that theright people are in the right roles at the right time.

Pfizer 2023 Impact Report

We have expanded the Growth Universe platform, a centralized hub forcolleagues to access a wide range of growth resources, explore newexperiences, expand their skill sets, and connect with colleagues from acrossdepartments and locations. The new netGROWing functionality allows
colleagues to network, mentor, and receive peer-to-peer coaching or support
in navigating new experiences. In addition, we integrated Pfizer’s job searchplatform, PfizerJobs, into Growth Universe, making it easier for colleagues tosearch and apply to new roles within the organization.
The Pfizer Learning Academy continued to provide personalized learning
pathways for colleagues, leveraging Pfizer and third-party learning materials.
In 2023, we introduced a self-paced Leadership Learning Pathways program
to equip colleagues with tools and resources to act on feedback they receive
regarding their demonstration of Pfizer values and behaviors. Additionally,
we launched a new program called EDGE to strengthen our leaders. This
program consisted of global, cross-functional cohorts, involving over 300
leaders, with the aim of supporting them in becoming more courageous,equitable, and inclusive leaders.
We continue to shift our perspective on career growth from a traditional,
linear view to one that is built on aspirations and embraces diverse experiences.
We actively encourage growth gigs and part-time or temporary projects
that allow colleagues to expand their expertise and build new skills whileremaining in their current roles. We also promote diagonal moves, wherecolleagues pursue new roles in different job functions to gain a holistic
understanding of the enterprise.
In addition to our ongoing commitment to colleague growth anddevelopment, we provided colleagues with resources on ‘Career Growthduring Times of Change.’ By addressing the challenges and uncertainties
that can arise during times of change, we helped colleagues take ownershipof their career journeys. We emphasized staying proactive, seeking newopportunities for growth, and leveraging skills and experiences to navigate
and maintain their career growth, even in the face of external changes beyond
their control.
As the business landscape evolves, our dedication to helping our colleagues
maintain their career advancement and seek new growth opportunities
remains unwavering. By fostering an environment of learning, resilience,and proactive career management, we are confident that our colleagues canthrive and contribute to our collective success.

39

Health, Safety, and Well-being
At Pfizer, protecting the health, safety, and well-being of colleagues andcontingent workers, all of whom are essential to driving our business forward,
is an integral part of how we operate.
Our Global Environment, Health & Safety (EHS) Policy and supporting
standards outline our approach to assessment, evaluation, elimination, andmitigation of EHS risks across our operations globally. Pfizer implements
applicable standards; Pfizer leadership is accountable for EHS complianceand risk management. Colleagues and contractors receive EHS training
relevant to their job roles, including measures to prevent workplace incidents
and injuries.
Each Pfizer colleague and contingent worker plays an important rolein facilitating a culture of EHS excellence where improvements, ideas,suggestions, and opportunities are welcomed. Fostering this culture ofinterdependence with everyone looking out for each other enables Pfizer
to meet its commitment to our patients. In 2022, we launched a program
focused on the proactive identification and prevention of risks associatedwith higher hazard operations such as working at heights and electricalsafety. This focused Serious Injury and Fatality (SIF) Prevention program,
deployed across our manufacturing sites in 2023, aims to help proactively
identify hazards and events so that preventative action can be taken and thelearnings shared across our global network to drive continuous improvement
in injury prevention.
Pfizer also places an emphasis on contractor safety. Our contractor safety
program establishes expectations for the selection of suitable contractors,
assessing risk and establishing safe working methods, providing training, andsupervising contractors working on Pfizer sites. Pfizer also underscores theimportance of continued communication and engagement with contractors.
We encourage open dialogue between Pfizer colleagues and contractors,
promoting the sharing of safety concerns, best practices, and lessons
learned, to foster a culture of safety and continuous improvement.

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Colleague Wellness
At Pfizer, we are committed to supporting and encouraging our colleagues’
well-being. We use results from Pfizer Pulse and other colleague feedback
forums to inform the wellness services we offer, such as:• Wellness Day for every colleague.
• On-site health clinics for colleagues in select locations, with access tocertain vaccinations, where allowed by law.
• Digital accessibility cafés providing colleagues with disabilities tools andequipment to do their jobs effectively. The first café opened in our New York
office, and we are expanding to other offices worldwide.
• Mental health resources, including a manager / team toolkit designed
to facilitate conversations, actively support coworkers, and provide local
resources for colleagues to access services.
• Programming through Employee Assistance Program (EAP) providers,
including mental health partner THRIVE, fitness partner Exos, and healthcare
partner Kepro.
• Financial support, including short-term loans and natural disaster relief.
• Work policies to help enable colleagues to work effectively from home andtheir local offices.

Diversity, Equity, and Inclusion (DEI)
At Pfizer, we believe every person deserves to be seen, heard, and caredfor. This belief drives our refreshed Global DEI strategy launched in 2021,
focused on building a more inclusive colleague experience, advancing
equitable health outcomes, and transforming society through external
partnerships. DEI is a path we choose both mindfully and actively, andis cultivated by listening, learning, and connecting with our colleagues,
patients, and communities.

Pfizer 2023 Impact Report

We focus on accountability and transparency by setting clear goals thecompany aspires toward and benchmarking our progress against 20 key
workplace DEI initiatives and outcome metrics for 2023—down from 28 in
2022. This reduction reflects the completion of some initiatives, including
the launch and expansion of our Self-Identification Campaign, Division
DEI Task Forces, Global DEI, and Enterprise Colleague Resource Groupalignment. We continue to work toward our goal to hire 500 refugees by2025 as part of our Pfizer Refugee Leadership Initiative.

Partnerships

With success from the pilots in 2022 to build authentic connections andencourage diverse perspectives, the DEI Learner’s Journey was formallylaunched in 2023. We rolled out “The Neuroscience of Smarter Teams”
course company-wide as required training. Our “Conscious Inclusion
Workshop” for people managers has started and will continue in 2024.

By working with community-based organizations, advocacy groups, andnonprofits worldwide, we expanded our outreach to support initiatives aimed
at advancing opportunities for underrepresented groups. Through strategic
alliances with organizations championing gender equality, racial justice,
LGBTQ+ rights, disability, and accessible healthcare, Pfizer’s commitment
extended beyond the workplace, enabling a broader societal impact. For
example, in 2023 Pfizer hosted a panel conversation in partnership with the
National Association of Black Journalists and the Sickle Cell Reproductive
Health Education Directive, looking at challenges of sickle cell disease in theBlack / African American community and to enhance education and raiseawareness of this life-altering disease.

SELF-IDENTIFICATION CAMPAIGNSOur self-identification campaigns encourage colleagues, in acollective effort, to input or update their personal demographic
information confidentially. The aggregated data helps us better
understand the demographics of our workforce and ensure ourrecruitment, development, and promotion strategies, along with ourbenefits and policies, are inclusive of all colleagues. In 2023, Canada
joined the U.S. and Puerto Rico in the campaign. In the U.S. and
Puerto Rico, a new race / ethnicity category was added in response
to colleagues’ request: Middle Eastern or North African.

40

We take seriously our role as a world citizen by building and nurturing
programs and partnerships that focus on DEI beyond Pfizer. Representationin healthcare is vital. In 2023, Pfizer sought to improve equity in partnershipwith DEI-based organizations to hire, grow, and empower talent. Working
with these organizations, which provide rich engagement opportunities
for people with diverse backgrounds and experiences, deepens Pfizer’s
engagement with different underserved communities.

Pfizer continues to work with longstanding partners to drive meaningfulchange by investing in programs that promote diverse representation,
equitable access to healthcare, and inclusive community engagement. For
example, we have been a National Partner with the Human Rights Campaign
and Human Rights Foundation since 2015, supporting their Health & Aging
initiatives and research. Pfizer was one of the first companies to join the“Count Us In” pledge, which supports the LGBTQ+ community and calls foran end to anti-LGBTQ+ legislation.
In 2023, Pfizer executed 26 enterprise-focused DEI recruitment initiatives on
a global or national scale, focused on strengthening diverse representationin our talent pipeline through relationships with SHPE—Latinos in STEM,
Reaching Out MBA, Disability:IN, Thurgood Marshall College Fund, Societyof Women Engineers, National Society of Black Engineers, MyGWork, andothers.

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Enterprise Colleague Resource Groups
Enterprise Colleague Resource Groups (CRGs) at Pfizer welcome
colleagues from all backgrounds to join. Whether colleagues are membersof a particular community or allies, they can learn from one another’s
perspectives and experiences and strengthen our culture of inclusion. Key
highlights in 2023 include:• A new Enterprise CRG, Middle Eastern & North African Resource Alliance(MENARA), was launched. It provides a platform for all colleagues tohonor the rich mosaic of history and intersectional diversity of the MENA
region. As 2023 turned out to be a year of turmoil for that area of the world,
MENARA played an important role in helping colleagues feel supported andcared for.
• Global Asian Alliance introduced a reverse mentoring program; completed
the ninth year of the Asian Leadership Forum; launched the second Asian
Executive Leadership Program Summit; and added two site chapters.
• Global Black Community partnered with historically Black colleges anduniversities (HBCUs), Landit, the National Sales Network, and others forcommunity engagement, colleague development, and retention across theenterprise.
• Disability CRG established a solid foundation for a global culture of
disability inclusion, demonstrated by active programming in multiple
locations around the world supporting hiring and colleague engagement
efforts.
• Pfizer Women’s Resource Group launched their “Supercharged Plans,”revamping their global Meet & Learn program for colleague development
and engagement; thousands of colleagues from around the world
participated.
• Out Pfizer Employee Network expanded their Ally Training and hosted
sessions in multiple countries, at which hundreds of colleagues learned
about the challenges faced by the LGBTQ+ community and how they canbetter support LGBTQ+ equality.

Pfizer 2023 Impact Report41• Pfizer Latino CRG held another successful Annual Summit for colleagues.
They also partnered with schools including the Math, Engineering, Science
Academy (MESA) Charter High School in Brooklyn, New York, and hosted
students at Pfizer headquarters for career exploration.
• Veterans in Pfizer hosted their second annual Veteran Service Week,
which included a bike and wheelchair build for local military families, carepackages for deployed troops, a community event in support of Talons Out
Honor Flight nonprofit organization, and a keynote address from a disabled
Veteran.

Pay Equity
Our commitment to pay equity for all colleagues is based in our value of
Equity and our intention to continue to build a diverse, inclusive, and highly
engaged workforce, which is crucial to achieving our Purpose.
Our efforts and initiatives in support of pay equity include:• Maintaining pay practices and policies that are transparent and fair,
regardless of gender, race, or ethnicity.
• Determining compensation objectively based on job-related factors, suchas the nature of the job, work location, and employees’ skills and experience.
• Providing training to managers on our value of Equity and our commitment
to DEI.
• Encouraging open dialogue between people managers and colleagues.
In terms of base pay, Pfizer pays our female colleagues globally at greaterthan 99% (99.5%) of what we pay male colleagues. When looking at minority
versus non-minority pay in the U.S., minorities are at dollar-for-dollar parity(100%) with the pay of non-minorities.

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For the fourth year, Pfizer released median pay gaps for women globally andminorities in the U.S., measuring the distribution of pay among colleagues
without accounting for any factors. Pfizer’s pay equity study demonstrated
the median pay for women globally was 100.6% of the median pay of men,and the median pay for minorities in the U.S. was 82.8% of the median pay
for non-minorities.
In 2023, Pfizer’s efforts with pay equity secured an ‘A’ grade on the Arjuna
Capital / Proxy Impact Racial and Gender Pay Equity Scorecard. We intend
to continue to measure pay equity on an annual basis and to publicly releaseresults.
In line with our commitment to DEI, we also report pay equity and pay gap
results in line with all applicable local market requirements.

Opportunity Parity

External Recognition
Creating a working environment that is exciting, innovative, inspiring, andsafe is one of our greatest motivations. Our efforts to build a culture withdiverse perspectives at the center have earned Pfizer industry recognition.
In 2023, we remained a Best Place to Work by Disability:IN and the Human
Rights Campaign based on our top scores earned in their equality andinclusion index reports. Pfizer was ranked number one in Forbes’ “World’s
Best Employers” List for Drug and Biotechnology companies. Forbes also
recognized Pfizer on their “Best Employers for Diversity.” Additionally, Pfizer
was named sixth overall and first in the Chemicals, Drugs and Biotechnology
Industry in Time’s “America’s Greatest Companies 2023” list. To see acomprehensive list of the recognition we have received for outstanding
work and service to our colleagues, please visit the accolades page on our
website.

Our 2025 Opportunity Parity Goals
By 2025, we aspire to achieve global workforce parity of 47% for womenat the VP level and above. By 2025, we aspire to achieve workforce parityof 32% for U.S. minorities at the VP level and above, and double theunderrepresented population of African Americans / Blacks and Hispanics /Latinos.

2023 Progress1
At the end of 2022, we reported that our representation for women at the VP
level and above was 43.1%. By December 2023, we increased 1.7 percentage
points to 44.8% . At the end of 2022, we reported that our representation for
U.S. minorities at the VP level and above was 28.1%. By December 2023, we
increased 2.4 percentage points to 30.5%.
These aspirational goals are not quotas and Pfizer continues to makeemployment decisions based on qualifications.
Colleagues who select “Do Not Disclose” or have not filled in their profile are not included in the denominator or numerator for gender or racial / ethnic representation. Gender representation is calculated globally. Puerto Ricois excluded within racial / ethnic representation but included in the Global Gender Representation.
1

Pfizer 2023 Impact Report42

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Measuring and reporting our ESG performance is key to understanding the impact of ouroperations, driving continuous improvement, and maintaining a transparent dialogue with our
stakeholders.
We are committed to improving our ESG performance because it is crucial to our longterm success as a responsible business and is essential to achieving our Purpose. The key
performance indicators we track are driven by an assessment of issues of greatest relevanceand impact to our stakeholders and our business.

Pfizer 2023 Impact Report

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Governance
Ethics, Transparency, Quality

2021

2022

2023

Ensuring quality and patient safety during clinical trials

2021 ESG Report – Governance Narrative

2022 ESG Report – Governance Narrative

2023 Impact Report - Governance Narrative

Products listed on FDA’s MedWatch List

FDA's MedWatch List1

Fatalities as reported in FDA Adverse Event Reporting System

FDA AE Reporting System1

Code of ethics governing the promotion of off-label use of products

2021 ESG Report – Governance Narrative

2022 ESG Report – Governance Narrative

2023 Impact Report - Governance Narrative

Code of ethics governing interactions with healthcare providers

2021 ESG Report – Governance Narrative

2022 ESG Report – Governance Narrative

2023 Impact Report - Governance Narrative

Alerts of risks associated with counterfeit products

2021 ESG Report – Governance Narrative

2022 ESG Report – Governance Narrative

2023 Impact Report - Governance Narrative

Counterfeit drug process for maintaining traceability

2021 ESG Report – Governance Narrative

2022 ESG Report – Governance Narrative

2023 Impact Report - Governance Narrative

4 out of 12

4 out of 12

4 out of 12

Accountability
Proportion of women on Board of Directors2

1
2

FDA databases may include Seagen Inc. products.
Pfizer's Board of Directors

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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Environment
Climate change (Scopes 1 & 2)1,2,3

2019 (baseline)

2021

2022

2023

2030 Goal

Carbon emissions (in million metric tons CO₂e)4

1.27

1.14

1.13

1.09

0.69

Renewable electricity (%)

10%

7%

7%

10%

100%

Supply chain environmental sustainability (Scope 3)32019 (baseline)

2021

2022

2023

2025 Goal

Suppliers of purchased goods and services by spend with science-based targets (%)5

-

19%

29%

51%

64%

Business travel carbon emissions (in thousand metric tons CO₂e)6

384

39

94

173

288

Upstream transportation & distribution carbon emissions (in thousand metric tons CO₂e)7

249

380

440

305

224

Pfizer’s organizational boundaries for environmental performance include all owned sites and leased facilities where Pfizer has operational control. Data are baseline adjusted, reported absolute, using reporting boundaries per the World Resources Institute (WRI) Greenhouse Gas (GHG) Protocol. The 2019 GHG data is independently verified to thelimited assurance level. GHG data for 2021-2022 is independently verified to the reasonable assurance level. Verification of 2023 data is in progress.
2
Scopes 1 and 2 as defined by the GHG Protocol Corporate Standard:• Scope 1: Direct GHG emissions. Direct GHG emissions occur from sources that are owned or controlled by the company, for example, emissions from combustion in owned or controlled boilers, furnaces, vehicles, etc., or emissions from chemical production in owned or controlled process equipment.
• Scope 2: Electricity indirect GHG emissions. GHG emissions from the generation of purchased electricity consumed by the company. Purchased electricity is defined as electricity that is purchased or otherwise brought into the organizational boundary of the company.
3
Data presented represents information available as of January 31, 2024, including certain estimates and assumptions. Historical estimates may periodically be subject to revision due to data source restatements and updates to methodology. See Pfizer’s website for more information on our GHG calculation methodology. Updated 2023 data will be
published on Pfizer’s Environmental Sustainability page.
4
Pfizer’s 2030 GHG emissions goal is to achieve a 46% reduction from the 2019 baseline, inclusive of the 100% renewable electricity target. There may be differences in baseline and subsequent reporting year values due to changes in the business that require baseline adjustments conducted in accordance with the GHG Protocol. Estimates comprise less than 3%of Scope 1 and 2 GHG emissions.
5
Tracking of the Scope 3 supplier engagement goal was initiated in 2021. We include companies publicly committed to setting science-based targets through the Science Based Target Initiative (SBTi), companies with SBTi-validated targets, and companies with Scope 1 and 2 targets set at a level equivalent to SBTi criteria.
6
Pfizer’s 2025 GHG emissions goal is to achieve a 25% reduction in business travel emissions from the 2019 baseline. There may be differences in baseline and subsequent reporting year values due to changes in the business that require baseline adjustments conducted in accordance with the GHG Protocol. We have added estimates to the 20192023 results to account for travel booked outside Pfizer’s travel system, which account for approximately 10% of total business travel emissions.
7
Upstream transportation emissions are calculated from Pfizer and third-party datasets. In 2023, we aligned our methodology with the Global Logistics Emissions Council (GLEC) framework and expanded our use of primary activity data to more accurately estimate shipment-level emissions. We have applied this methodology to our historical estimates.
1

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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Environment
Water and waste 1, 2

2021

2022

2023

Water withdrawal (in million cubic meters)

27.4

28.7

31.9

Water discharge (in million cubic meters)

23.5

24.8

28.1

Water consumption (in million cubic meters)

3.8

3.9

3.8

Hazardous waste generated (in thousand metric tons)

74.9

76.5

79.9

Hazardous waste diverted from disposal (in thousand metric tons)

11.9

7.5

10.4

Hazardous waste disposed (in thousand metric tons)

63.1

69.0

69.5

Non-hazardous waste generated (in thousand metric tons)

37.9

34.3

34.9

Non-hazardous waste diverted from disposal (in thousand metric tons)

22.2

18.5

18.6

Non-hazardous waste disposed (in thousand metric tons)

15.7

15.8

16.3

Pfizer’s organizational boundaries for environmental performance include all owned sites and leased facilities where Pfizer has operational control. Data are baseline adjusted, reported absolute, using the same reporting boundaries as are used for greenhouse gas reporting per the World Resources Institute (WRI) Greenhouse Gas (GHG) Protocol.
Limited assurance of the 2023 water and waste data is in progress.
2
Data presented represents information available as of January 31, 2024, including certain estimates and assumptions. Historical estimates may periodically be subject to revision due to data source restatements and updates to methodology. Updated 2023 data will be published on Pfizer’s Environmental Sustainability page.
1

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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ESG Performance

SocialAppendixSocialInnovation and Global Health

Product Innovation

2021

2022

2023

Time to market (in years) (first-in-human (FIH) to approval)1

8.1

4.8

5.1

Success rate (FIH to approval)2

21%

18%

17%

Number of drugs in portfolio3

Product Listing

Number of drugs in research and development4

89

110

112

Products on WHO List of Prequalified Medicinal Products and Vaccines5

WHO Medicinal Products
and Vaccines List

Key projects driving large-scale digital solutions in R&D, manufacturing and healthcare provider and patient engagement

38

38

47

Biosimilars and generics are excluded from all analyses, as are product enhancements (supplemental indications, major new formulations, etc.). New molecular entities (NME) are the foundation of Pfizer’s, and the industry’s, innovative medicines pipelines. NMEs originating outside of Pfizer and acquired or licensed by Pfizer after achieving FIH or
more advanced development milestones are generally excluded from FIH-approval cycle time calculations where substantial development effort occurred before Pfizer’s operational control. Cycle times from FIH to approval are calculated between the FIH date for the NME in its first indication pursued, and first major regulatory approval (U.S. FDA or
EU European Medicines Agency) for the NME. The NME approval may or may not be for the same indication by which the NME triggered its first FIH milestone. Rolling cohorts are used to provide sufficient sample sizes to calculate cycle times between major development milestones.
2
The FIH to approval NME success rate metric is a composite metric. It is a cumulative success rate derived using individual phase success rates from FIH (start of Phase 1) to approval (first regulatory approval) at an NME level. Combinations of approved NMEs, biosimilars and generics are excluded from all success rate calculations. Cumulative
NME success rate is calculated using three-year rolling cohorts for Phase 1 and five-year rolling cohorts for Phase 2, Phase 3 and registration.
3
Included on Pfizer’s Product Listing:*• Co-Marketing agreements - Products that were co-marketed with other companies are included in the products listing. However, the third party may be taking or be responsible for a significant portion of the underlying marketing.
• U.S. Products Only - The product listing shows products available to U.S. consumers only.
• New Drug Application (NDA) / Abbreviated New Drug Application (ANDA) / Biologic License Application (BLA) – Products included are only shown (or removed) if they have an active application (or the application has been withdrawn). This results in certain products being listed that are not actively marketed.
* Seagan Inc. products will be included in the normal course of business.
4
The 2023 figure is as of January 30, 2024, and represents the number of R&D programs in Phase 1 to registration, including programs for additional uses for in-line and in-registration products. 2023 data includes Seagen Inc. data. For latest information, please see Pfizer’s R&D Portfolio.
5
To see the products prequalified, perform a database search per manufacturer name (Pfizer). Seagen products will be included in the normal course of business.
1

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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ESG Performance

SocialAppendixSocialInnovation and Global Health
Breakthrough and Expedited Regulatory Designations1

2021

2022

2023

% of Pfizer NME / BLA novel drug approvals by the U.S. FDA achieving breakthrough therapy designation (over a rolling 5-year period)

45%(vs. 30% for industry)44%(vs. 30% for industry)38%(vs. 29% for industry)% of Pfizer NME / BLA novel drug approvals by the U.S. FDA achieving one or more expedited review designations (over a rolling 5-year period)

91%(vs. 66% for industry)

100%(vs. 67% for industry)

62%(vs. 67% for industry)

Breakthrough and other expedited U.S. Food and Drug Administration (FDA) regulatory designations are cited as a proxy measure of innovation among Pfizer and biopharmaceutical industry novel drug approvals. As with success rate and time-to-market metrics, the metrics exclude biosimilars, generics and product enhancements. Our criteria for
FDA expedited designations includes breakthrough therapy, fast track, priority review and accelerated approval. These four designations are well-defined and established in FDA reporting and suitable for tracking over time. The metrics cover a rolling 5-year period (e.g., 2023 values represent 2019-2023) and references Pfizer internal medicines
portfolio data and data provided by the FDA’s Center for Drug Evaluation and Research (CDER) and Center for Biologics Evaluation and Research (CBER). The scope of these metrics is limited to new molecular entities (NME), novel biologics license applications (BLA) and novel vaccine approvals. Pfizer novel drug approval counts include co-developed or acquired assets which may not be listed as distinctly Pfizer assets among FDA data. Industry novel drug approval counts exclude Pfizer approvals.
1

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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ESG Performance

SocialAppendixSocialInnovation and Global Health
Equitable Access and Pricing

2021

2022

2023

Description of actions and initiatives to promote access

2021 ESG Report –Social Narrative

2022 ESG Report – Tackling
the Health Equity Gap
Together
2022 ESG Report – Equitable
Access and Pricing

2023 Impact Report - Social Narrative

Patients treated1

383 million(excluding COMIRNATY®
and PAXLOVID®)

304 million 2(excluding COMIRNATY®
and PAXLOVID®)

334 million(excluding COMIRNATY®
and PAXLOVID®)

1.4 billion(including COMIRNATY®
and PAXLOVID®)

1.3 billion(including COMIRNATY®
and PAXLOVID®)

619 million(including COMIRNATY®
and PAXLOVID®)

Access to Medicine Index (ATMI) Ranking3

4th

6th

6th

Percent change in average net price for U.S. portfolio4

-5%

6%

5%

The Patients Treated metric is calculated from Pfizer and third-party datasets. Figures may be limited given the coverage provided by external sources (e.g., calendar duration, geographic and product coverage) and are subject to change. Numbers are estimates and in some cases use global volume, daily dosage and number of treatment days tofacilitate calculations. Methodologies to calculate estimates may vary by product type given the nature of the product and available data. Patients taking multiple Pfizer products may be counted as multiple patients towards total. Numbers do not include comprehensive estimated patient counts from Ex-US Access & Affordability programs (this does
not include An Accord for a Healthier World). Historical estimates may periodically be subject to revision due to restatements in the underlying data source.
2
Note: 2022 Patients Treated estimate of 304 million (excluding COMIRNATY® & PAXLOVID®) is a revision from the figure included in the 2022 ESG Report due to data source restatements and updates to methodology.
3
The 2022 Access to Medicine Index assesses the top 20 largest research-based pharmaceutical companies on their actions to improve access to medicines in 108 low- and middle-income countries for 83 diseases, conditions and pathogens. As the ATMI is published every two years, the 2023 disclosure is the same as the 2022 disclosure. ATMI
2022 Ranking.
4
The U.S. portfolio includes all pharmaceutical products marketed by the company. The product sales utilized in the analysis represent ~79% of the total U.S. portfolio in 2023 and exclude our alliance products and contract manufacturing operations. Excluding COMIRNATY® and PAXLOVID®, the percentage change in average net price for the U.S.
portfolio for 2021, 2022 and 2023 are -4%, -2%, and +1% respectively. Year-over-year comparisons of net price may be impacted by changes to our portfolio, including, but not limited to, new formulations, strengths, and product delivery formats.
1

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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SocialAppendixSocialInnovation and Global Health2023 Gender Representation (Global)1

FemaleMale

VP and above

44.8%

55.2%

Senior Director

49.2%

50.8%

Director

53.5%

46.5%

Manager / Senior Manager

53.8%

46.2%

Analyst and below

50.2%

49.8%

2023 Racial / Ethnic Group Representation (U.S. only)1

Asian

Black or African
AmericanHispanicor LatinoWhite

Two orMore Races

Other2

VP and above

15.4%

7.1%

6.9%

69.5%

0.9%

0.2%

Senior Director

16.9%

4.1%

5.8%

70.8%

1.9%

0.5%

Director

19.5%

5.5%

6.0%

66.4%

1.8%

0.8%

Manager / Senior Manager

20.3%

6.9%

6.9%

63.5%

1.6%

0.9%

Analyst and below

9.0%

22.3%

8.4%

56.4%

2.7%

1.3%

Colleagues who select “Do Not Disclose” or have not filled in their profile are not included in the denominator or numerator for gender or racial / ethnic representation. Gender representation is calculated globally. Puerto Rico is excluded within racial / ethnic representation but included in the Global Gender Representation. Percentages may not add
up to 100% due to rounding.
2
Other is defined as American Indian or Alaska Native, Middle Eastern or North African, and Native Hawaiian or Other Pacific Islander.
1

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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AppendixSocialInnovation and Global Health
Our People

2021

2022

2023

Description of talent and recruitment efforts

2021 ESG Report – Social Narrative

2022 ESG Report - Social Narrative

2023 Impact Report - Social Narrative

Pay equity

2021 ESG Report – Social Narrative

2022 ESG Report - Social Narrative

2023 Impact Report - Social Narrative

Employee Engagement (composite score, favorable %)1

90%

88%

85%

Employee Purpose (favorable %)2

92%

93%

89%

Voluntary Employee Turnover

7.2%

7.3%

5.8%

Involuntary Employee Turnover

5.3%

7.0%

6.4%

Employee Engagement and Purpose

Employee Turnover3

Composite score across four questions: 1. I am proud to work for Pfizer, 2. I would recommend Pfizer as a great place to work, 3. I would like to be working at Pfizer one year from now, 4. If I were offered a comparable position with similar pay and benefits at another company, I would stay with Pfizer.
Scored from question: “My work contributes to our purpose – Breakthroughs that change patients’ lives”.
Turnover numbers are based on average annual headcount = (Total Headcount December 31, 2022 + Total Headcount December 31, 2023) / 2. The number of employees at Pfizer who are actively working and are paid directly by the company, or those on leave for 6 months or less and eligible for benefits available to Pfizer employees in the country of
their employment or hired without an actual expected termination date.
12
3

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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SocialInnovation and Global HealthColleague Health & Safety1

2021

2022

2023

Total Injury Rate (TIR)2

0.30

0.30

0.30

Lost Time Injury Rate (LTIR)3

0.14

0.13

0.13

Fatalities4

0

0

0

To facilitate consistent reporting practices, Pfizer applies the U.S. Occupational Safety and Health Administration Recordkeeping Requirements as its global reporting standard.
Injuries or illnesses per 100 colleagues.
Injuries or illnesses resulting in time away from work per 100 colleagues.
4Work-related injuries or illnesses that led to loss of life.
12

3

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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AppendixSocialInnovation and Global Health2023 Employee Turnover by Racial/
Ethnic Group Representation (U.S. only)1

Asian

Black orAfricanAmericanHispanicor
LatinoWhite

Two or
More
Races

Other

2023 Employee Turnover by Gender1

FemaleMale

VP and above

11.3%

11.3%

5.0%

68.8%

2.5%

1.3%

VP and above

32.0%

68.0%

Senior Director

15.1%

1.7%

5.2%

75.4%

2.6%

0.0%

Senior Director

47.2%

52.8%

Director

22.4%

6.0%

5.5%

63.2%

1.4%

1.4%

Director

49.2%

50.8%

Manager / Senior Manager

26.7%

4.8%

7.2%

58.7%

1.9%

0.7%

Manager / Sr. Manager

53.3%

46.7%

Analyst and below

11.4%

19.3%

8.7%

56.0%

3.3%

1.3%

Analyst and below

50.1%

49.9%

2023 New Hires by Racial/
Ethnic Group Representation (U.S. only)2

Asian

Black orAfricanAmericanHispanicor
LatinoWhite

Two or
More
Races

Other

2023 New Hires by Gender2

FemaleMale

VP and above

16.7%

6.7%

13.3%

60.0%

3.3%

0.0%

VP and above

39.0%

61.0%

Senior Director

20.5%

5.5%

8.2%

56.2%

9.6%

0.0%

Senior Director

52.7%

47.3%

Director

21.0%

12.1%

6.6%

57.7%

1.8%

0.7%

Director

53.6%

46.4%

Manager / Sr. Manager

26.7%

9.9%

6.7%

52.2%

2.7%

1.7%

Manager / Sr. Manager

56.1%

43.9%

Analyst and below

10.1%

25.6%

11.2%

47.3%

4.2%

1.6%

Analyst and below

55.9%

44.1%

1
2

Calculation includes percentage distribution by self-identified racial/ethnic category of all U.S. colleagues who departed the company, voluntarily or involuntarily, by job level during calendar year 2023. Other is defined as American Indian or Alaska Native, Middle Eastern or North African, and Native Hawaiian or Other Pacific Islander.
Calculation includes percentage distribution by self-identified racial/ethnic category of all U.S. colleagues hired into the company by job level into full-time regular positions during calendar year 2023. Other is defined as American Indian or Alaska Native, Middle Eastern or North African, and Native Hawaiian or Other Pacific Islander.

Note: Unless otherwise noted, KPIs exclude data from Seagen Inc., which was acquired by Pfizer in December 2023.

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Appendix

Pfizer 2023 Impact Report

Governance

Environment

SocialESG Performance

Appendix

We are aligning our efforts and reporting to recognized ESG standards: The Sustainability
Accounting Standards Board (SASB), Global Reporting Initiative (GRI) and Task Force on ClimateRelated Financial Disclosures (TCFD), as well as the UN Sustainable Development Goals (SDGs),
where appropriate.

54

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Appendix

GRI Index
We have included a GRI Index in this Impact Report as a reference tool to help readers more readily locate relevant information. This index was prepared with reference to the GRI standards. Pfizer continues to evaluate our approach to reporting, including reference to several existing, globally recognized external frameworks—for more information please see Global Reporting Frameworks on page 82. As used herein and therein, “materiality” has the definition given to thatterm by GRI. GRI does not define materiality the same as the U.S. federal securities laws. Disclosures below are not necessarily material, within the meaning of the U.S. federal securities laws, and the inclusion herein of such disclosures
should not be considered as an admission of their materiality by Pfizer.

GRI Indicator

Description

Reference

Organization details

Pfizer Annual Report on Form 10-K for the year ended December 31, 2023

GRI 2: Universal Disclosures
2-1

Direct Response: Pfizer Inc. is a publicly owned incorporated entity headquartered in New York, NY, USA. Our global operations are detailed on our Global
Manufacturing, Supply, and Distribution webpage.
2-2

Entities included in the organization’s sustainability reporting

About This Report; pg. 82
Direct Response: This report covers all of Pfizer’s global operations included
within the 2023 financial statements, unless otherwise stated.

2-3

Reporting period, frequency and contact point

About This Report; pg. 82

2-4

Restatements of information

Direct Response: Pfizer restates information as appropriate and when needed.
Please refer to the Key Performance Indicator tables in the ESG Performance
section of the report for any restated information included during this reporting
period.

2-5External Assurance

Direct Response: There is no third-party assurance on the information provided
in these GRI disclosures.
Instances in which a third-party has assured data or information in this report areclearly marked. Please see additional information about external assurance in
About This Report; pg. 82

2-6

Activities, value chain and other business relationships

Letter from Our Chairman & CEO; pg. 4
Our Approach to ESG; pg. 7
ESG Priorities; pg. 8
Safety and Quality: Third-party management; pg. 18
Supply Chain Transparency; pg. 19
Pfizer Annual Report on Form 10-K for the year ended December 31, 2023
Direct Response: There were no significant changes within the organizational
value chain during the reporting period.

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GRI Index
GRI Indicator

Description

Reference

2-7

Employees

Pfizer Annual Report on Form 10-K for the year ended December 31, 2023
Direct Response - Omission Statement: The organization considers the data
confidential and thus cites ‘confidentiality constraints’ as our reason for omission.
Reason for Omission: Confidentiality Constraints

2-8

Workers who are not employees

Direct Response - Omission Statement: The organization considers the data
confidential and thus cites ‘confidentiality constraints’ as our reason for omission.
Reason for Omission: Confidentiality Constraints

2-9

Governance structure and composition

Governance of ESG; pg. 13
Board of Directors and Board Committees; pg. 23
Board Leadership Structure; pg. 23
Board Diversity and Independence; pg. 24
Board of Directors
Board Committees and Charters

2-10

Nomination and selection of the highest
governance body

Governance of ESG; pg. 13
Board of Directors and Board Committees; pg. 23
Board Leadership Structure; pg. 23
Board Diversity and Independence; pg. 24
2024 Proxy Statement

2-11

Chair of the highest governance body

Board of Directors and Board Committees; pg. 23

2-12

Role of the highest governance body in overseeing themanagement of impacts

Our Approach to ESG; pg. 7
ESG Priorities; pg. 8
Governance of ESG; pg. 13
Laws and Regulations Compliance; pg. 14-16
Open Door Culture and Investigations; pg. 16
Board Committees and Charters

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GRI Index
GRI Indicator

Description

Reference

2-13

Delegation of responsibility for managing impacts

Our Approach to ESG; pg. 7
Governance of ESG; pg. 13

2-14

Role of the highest governance body in sustainability reporting

Governance of ESG; pg. 13
About This Report; pg. 82

2-15

Conflicts of interest

Ethical Decision-Making; pg. 14
Code of Business Conduct and Ethics for Members of the Board

2-16

Communication of critical concerns

Ethical Decision-Making; pg. 14
Laws and Regulations Compliance; pg. 14-16
Safety and Quality; pg. 17-18
Open Door Culture and Investigations; pg. 16
Direct Response - Omission Statement: Pfizer does not publicly disclose thenumber of critical concerns communicated during the reporting period. Pfizer
considers the data confidential and thus cites ‘confidentiality constraints’ as ourreason for omission.
Reason for Omission: Confidentiality Constraints

2-17

Collective knowledge of the highest governance body

Board Diversity and Independence; pg. 24
Pfizer Annual Report on Form 10-K for the year ended December 31, 2023

2-18

Evaluation of the performance of the highest governance body

Governance of ESG; pg. 13
About This Report; pg. 82
2024 Proxy Statement

2-19

Remuneration policies

2024 Proxy Statement

2-20

Process to determine remuneration

Board Compensation Committee Charter
2024 Proxy Statement

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GRI Index
GRI Indicator

Description

Reference

2-22

Statement on sustainable development strategy

A Letter from Our Chairman & CEO; pg. 4
A Message from Our Lead Independent Director; pg. 5

2-23

Policy commitments

Our Approach to ESG; pg. 7
Laws and Regulations Compliance; pg. 14-16
Open Door Culture and Investigations; pg. 16
Safety and Quality: Quality Management System (QMS); pg. 17Intellectual Property; pg. 20
Data Privacy and Protection; pg. 21
Human Rights and the Right to Health; pg. 22
Political Contributions and Lobbying Activities; pg. 22
Human Rights Policy Statement
Corporate Compliance2024 Proxy Statement
Direct Response: Pfizer may apply the precautionary principle in order to manage
and report on risks and impacts.

2-24

Embedding policy commitments

Laws and Regulations Compliance; pg. 14-16
Open Door Culture and Investigations; pg. 16
Safety and Quality: Quality Management System (QMS); pg. 17Intellectual Property; pg. 20
Data Privacy and Protection; pg. 21
Human Rights and the Right to Health; pg. 22
Political Contributions and Lobbying Activities; pg. 22
Health, Safety, and Well-being; pg. 39
2024 Proxy Statement
Commitment to Quality
Pfizer Training

2-25

Processes to remediate negative impacts

Our Stakeholders; pg. 9Open Door Culture and Investigations; pg. 16
TCFD Report; pg. 76
Pfizer Annual Report on Form 10-K for the year ended December 31, 2023
Human Rights Policy Statement

2-26

Mechanisms for seeking advice and raising concerns

Open Door Culture and Investigations; pg. 16
SASB Index; pg. 71-75
Corporate Compliance

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GRI Index
GRI Indicator

Description

Reference

2-27

Compliance with laws and regulations

Laws and Regulations Compliance; pg. 14-16
Safety and Quality; pg. 17-18
Direct Response - Omission Statement: Pfizer does not publicly disclose thenumber, nature, or monetary value of fines imposed for significant instances of
non-compliance. Pfizer considers the data confidential and thus cites ‘confidentiality constraints’ as our reason for omission.
Reason for Omission: Confidentiality Constraints

2-28

Membership of associations

Political Contributions and Lobbying Activities; pg. 22
Political Partnerships

2-29

Approach to stakeholder engagement

Our Approach to ESG; pg. 7
ESG Priorities; pg. 8
Our Stakeholders; pg. 9

2-30

Collective bargaining agreements

Laws & Regulations Compliance; pg. 14-16
Colleague Engagement; pg. 38

Process to determine material topics

Our Approach to ESG; pg. 7
ESG Priorities; pg. 8
About This Report; pg. 82

GRI 3: Material Topics
3-1

Pfizer Annual Report on Form 10-K for the year ended December 31, 2023

3-2

List of material topics

ESG Priorities; pg. 8

3-3Management of material topics

Our Approach to ESG; pg. 7
ESG Priorities; pg. 8

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GRI Index
GRI Indicator

Description

Reference

3-3Management of material topics

2023 Annual Review

201-1

Direct economic value generated and distributed

2023 Annual Review
Pfizer Annual Report on Form 10-K for the year ended December 31, 2023

Management of material topics

ESG Priorities; pg. 8
Innovation and Global Health; pg. 32-33

GRI 200: Economic Disclosure
Economic performance

Indirect Economic Impacts
3-3

Corporate Compliance
203-1

Infrastructure investments and services supported

ESG Priorities; pg. 8
Product Innovation; pg. 32
Equitable Access and Pricing; pg. 34-37
Healthcare Infrastructure; pg. 35
Patient Centricity; pg. 37
Corporate Compliance

203-2

Pfizer 2023 Impact Report

Significant indirect economic impacts

ESG Priorities; pg. 8
Antimicrobial Resistance (AMR); pg. 33
Equitable Access and Pricing; pg. 34-37

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GRI Index
GRI Indicator

Description

ReferenceManagement of material topics

Ethics, Transparency, Quality; pg. 14-22

Anti-Corruption
3-3

Anti-Bribery and Anti-Corruption Policy
205-1

Operations assessed for risks related to corruption

Laws and Regulations Compliance; pg. 14-16
Safety and Quality; pg. 17-18
Supply Chain Transparency; pg. 19
Anti-Bribery and Anti-Corruption Policy
Direct Response - Omission Statement: Pfizer does not publicly disclose criticalconcerns communicated during the reporting period. Pfizer considers the data
confidential and thus cites ‘confidentiality constraints’ as our reason for omission.
Reason for Omission: Confidentiality Constraint

205-2

Communication and training about anti-corruption policies and procedures

Laws and Regulation Compliance; pg. 14-16
Political Contributions and Lobbying Activities; pg. 22
Anti-Bribery and Anti-Corruption Policy
Blue Book (Code of Conduct)

Tax
3-3

Management of material topics

Laws and Regulations Compliance; pg. 14-16
Political Contributions and Lobbying Activities; pg. 22
Pfizer Annual Report on Form 10-K for the year ended December 31, 2023

207-1

Approach to tax

Laws and Regulations Compliance; pg. 14-16
Political Contributions and Lobbying Activities; pg. 22
Pfizer Annual Report on Form 10-K for the year ended December 31, 2023

207-2

Tax governance, control, and risk management

Laws and Regulations Compliance; pg. 14-16
Open Door Culture and Investigations; pg. 16
Political Contributions and Lobbying Activities; pg. 22
Pfizer Annual Report on Form 10-K for the year ended December 31, 2023

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GRI Index
GRI Indicator

Description

Reference

207-3

Stakeholder engagement and management of concerns related to tax

Our Stakeholders; pg. 9
Laws and Regulations Compliance; pg. 14-16
Political Contributions and Lobbying Activities; pg. 22
Pfizer Annual Report on Form 10-K for the year ended December 31, 2023

207-4

Country-by-country reporting

Pfizer Annual Report on Form 10-K for the year ended December 31, 2023

3-3Management of material topics

Climate Change; pg. 26-28

302-1

Energy consumption within the organization

Performance Data: Environment; pg. 45-46

GRI 300: Environmental Disclosures
EnergyEHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.
302-3

Energy intensity

Performance Data: Environment; pg. 45-46
EHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

302-4

Reduction of energy consumption

Performance Data: Environment; pg. 45-46
EHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

Pfizer 2023 Impact Report

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SocialESG Performance

Appendix

GRI Index
GRI Indicator

Description

Reference

3-3Management of material topics

Climate Change; pg. 26-28
Sustainable Medicines; pg. 29-30

303-3

Water withdrawal

Reducing Emissions from Our Operations; pg. 27
Pharmaceuticals in the Environment; pg. 29
Water Stress; pg. 30
Performance Data: Environment; pg. 45-46

Water

EHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.
303-4

Water discharge

Reducing Emissions from Our Operations; pg. 27
Pharmaceuticals in the Environment; pg. 29
Performance Data: Environment; pg. 45-46
EHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

Pfizer 2023 Impact Report

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Appendix

GRI Index
GRI Indicator

Description

Reference

3-3Management of material topics

Climate Change; pg. 26-28
Performance Data: Environment; pg. 45-46
TCFD Report; pg. 76

305-1

Direct (Scope 1) GHG emissions

2023 Progress and Highlights; pg. 6
Climate Change; pg. 26-28
Performance Data: Environment; pg. 45-46
TCFD Report; pg. 76

Emissions

Direct Response: Pfizer discloses Scope 1 & 2 GHG combined,
please see additional details in our EHS KPI webpage.
305-2

Energy indirect (Scope 2) GHG emission

2023 Progress and Highlights; pg. 6
Climate Change; pg. 26-28
Performance Data: Environment; pg. 45-46
TCFD Report; pg. 76
Direct Response: Pfizer discloses Scope 1 & 2 GHG combined, please see additional details in our EHS KPI webpage.

305-3

Other indirect (Scope 3) GHG emissions

EHS KPI webpage2023 Progress and Highlights; pg. 6
Performance Data: Environment; pg. 45-46
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

305-5

Reduction of GHG emissions

Climate Change; pg. 26-28
Reducing Emissions From Our Operations; pg. 27
Performance Data: Environment; pg. 45-46
TCFD Report; pg. 76

305-6

Emissions of ozone-depleting substances (ODS)EHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

305-7

Pfizer 2023 Impact Report

Nitrogen oxides (NOx), sulfur oxides (Sox), and other significant air
emissions

EHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

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Appendix

GRI Index
GRI Indicator

Description

Reference

3-3Management of material topics

Sustainable Medicines; pg. 29-30

306-1

Waste generation and significant waste-related impacts

Waste; pg. 29

306-2

Management of significant waste-related
impacts

Sustainable Medicines; pg. 29-30
Waste; pg. 29

306-3

Waste generated

Performance Data: Environment; pg. 45-46

Waste

EHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.
306-4

Waste diverted from disposal

Performance Data: Environment; pg. 45-46
Waste; pg. 29
EHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

306-5

Waste directed to disposal

Performance Data: Environment; pg. 45-46
Waste; pg. 29
EHS KPI webpage
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

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SocialESG Performance

Appendix

GRI Index
GRI Indicator

Description

Reference

3-3Management of material topics

Supply Chain Transparency; pg. 19

308-1

New suppliers that were screened using environmental criteria

Supply Chain Transparency; pg. 19

Supplier environmental assessment

EHS KPI webpage
Direct Response: All (100%) new Pfizer suppliers are screened for negative environmental impacts, in accordance with our Supplier Conduct Principles.
Direct Response: Pfizer's latest environmental KPI data are available on our EHS
KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

GRI 400: Social Disclosures
Employment
3-3Management of material topics

Our People; pg. 38-42

401-1

New employee hires and employee turnover

Performance Data: Social; pg. 47-53

Management of material topics

Our People; pg. 38-42
Safety and Quality; pg. 17-18

Occupational Health and Safety
3-3

EHS Governance
EHS Policy Statement
Prioritizing Health and Safety

Pfizer 2023 Impact Report

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Appendix

GRI Index
GRI Indicator

Description

Reference

403-1

Occupational health and safety management system

Health, Safety, and Well-being; pg. 39
Safety and Quality; pg. 17-18
Performance Data: Social; pg. 47-53
EHS Management Systems
Direct Response: To facilitate consistent reporting practices, Pfizer applies the
U.S. Occupational Safety and Health Administration Recordkeeping Requirements as its global reporting standard.

403-2

Hazard identification, risk assessment, and incident investigation

Laws and Regulations Compliance; pg. 14
Safety and Quality; pg. 17-18
Health, Safety, and Well-being; pg. 39
EHS Governance
EHS Policy Statement403-3

Occupational health services

Health, Safety, and Well-being; pg. 39

403-4

Worker participation, consultation and communication on occupational
health and safety

Our Stakeholders; pg. 9
Safety and Quality; pg. 17-18
Health, Safety, and Well-being; pg. 39

403-5

Worker training on occupational health and safety

Laws and Regulations Compliance; pg. 14
Safety and Quality; pg. 17-18
Health, Safety, and Well-being; pg. 39
Blue Book (Code of Conduct)
EHS Governance
Prioritizing Health and Safety

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SocialESG Performance

Appendix

GRI Index
GRI Indicator

Description

Reference

403-6

Promotion of worker healthColleague Wellness; pg. 40
Prioritizing Health and Safety

403-7

403-9

Prevention and mitigation of occupational health and safety impacts
directly linked by business relationships

Safety and Quality; pg. 17-18

Work-related injuries

Performance Data: Social; pg. 47-53

Prioritizing Health and Safety

EHS KPI webpage
Direct Response: Pfizer's latest work-related injury KPI data is available on our
EHS KPI webpage and will be available for fiscal 2023 by the end of Q2 2024.

Training and Education
3-3Management of material topics

Our People; pg. 38-42

404-2

Programs for upgrading employee skills and transition assistanceprograms

Colleague Engagement; pg. 38
Growth and Development; pg. 39

3-3Management of material topics

Board Diversity and Independence; pg. 24
Our People; pg. 38-42

405-1

Diversity of governance bodies and employees

Board Diversity and Independence; pg. 24
Diversity, Equity, and Inclusion (DEI); pg. 40
Performance Data: Social; pg. 47 - 53

Diversity and Equal Opportunity

Pfizer 2023 Impact Report

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GRI Index
GRI Indicator

Description

Reference405-2

Ratio of basic salary and remuneration of women to men

Pay Equity; pg. 41

3-3Management of material topics

Human Rights and the Right to Health; pg. 22

408-1

Operations and suppliers at significant risk for incidents of child labor

Human Rights and the Right to Health; pg. 22Child Labor

Human Rights Policy Statement
Modern Slavery Statement
Pfizer Supplier Conduct Principles

Forced or Compulsory Labor
3-3

Management of material topics

Human Rights and the Right to Health; pg. 22

409-1

Operations and suppliers at significant risk for incidents of forced orcompulsory labor

Human Rights and the Right to Health; pg. 22

3-3Management of material topics

Clinical Trials; pg. 21
Equitable Access and Pricing; pg. 34-37
Healthcare Infrastructure; pg. 35
Pfizer Inc. Programs Supporting Equitable Access; pg. 36

413-1

Operations with local community engagement, impact assessments anddevelopment programs

Clinical Trials; pg. 21
Equitable Access and Pricing; pg. 34-57
Healthcare Infrastructure; pg. 35
Pfizer Inc. Programs Supporting Equitable Access; pg. 36

Human Rights Policy Statement
Modern Slavery Statement
Supplier Conduct Principles

Local Communities

Pfizer 2023 Impact Report

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GRI Index
GRI Indicator

Description

Reference

Supplier Social Assessment
3-3Management of material topics

414-1

New suppliers that were screened using social criteria

Supply Chain Transparency; pg. 19
Direct Response: All (100%) new Pfizer suppliers are screened for negative social
impacts, in accordance with our Supplier Conduct Principles.

Public Policy
3-3Management of material topics

Political Contributions and Lobbying Activities; pg. 22
Political Partnerships
State Lobbying Activities

415-1

Political contributions

Political Contributions and Lobbying Activities; pg. 22
Political Partnerships
State Lobbying Activities

Customer Health and Safety
3-3Management of material topics

Safety and Quality; pg. 17-18

416-1

Assessment of the health and safety impacts of product and service
categories

Safety and Quality; pg. 17-18

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Environment

SocialSASB
Pfizer voluntarily reports using the Sustainability
Accounting Standards Board (SASB) framework for ourindustry—biotechnology and pharmaceuticals—as wellas the professional and communication services andhealthcare drug retailer sectors for human capital metrics
that fit our priority issues.
We are continually improving our data collection andcoordination across Pfizer’s operations in support of ourcommitment to strengthen our reporting processes anddisclosures in the coming years.

Pfizer 2023 Impact Report

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ESG Performance

AppendixIntroduction

Governance

Environment

SocialESG Performance

Appendix

SASB
SASB Disclosure ID

SASB Disclosure Description

References and Responses

HC-BP-210a.1

Discussion, by world region, the management process for ensuring quality and patient safety
during clinical trials

Ethics, Transparency, Quality; pg. 16-17; 21

HC-BP-210a.2

Number of FDA Sponsor Inspections related to clinical trial management and pharmacovigilancethat resulted in: (1) Voluntary Action Indicated (VAI) and (2) Official Action Indicated (OAI)

Ethics, Transparency, Quality; pg. 18

HC-BP-210a.3

Total amount of monetary losses as a result of legal proceedings associated with clinical trials indeveloping countries

Pfizer is not reporting against this metric at this time.

HC-BP-240a.1

Description of actions and initiatives to promote access to healthcare products for priority diseases and in priority countries as defined by the Access to Medicine Index

Innovation & Global Health; pg. 32-33
Product Innovation; pg. 32
Equitable Access & Pricing; pg. 34-37

HC-BP-240a.2

List of products on the WHO List of Prequalified Medicinal Products as part of its Prequalificationof Medicines Programme (PQP)

WHO Medicinal Products (webpage)
WHO Prequalified Vaccines (webpage)

HC-BP-240b.1

Number of settlements of Abbreviated New Drug Application (ANDA) litigation that involved
payments and/or provisions to delay bringing an authorized generic product to market for a definedtime period

Pfizer is not reporting against this metric at this time.

HC-BP-240b.2

Percentage change in: (1) average list price and (2) average net price across U.S. product portfolio
compared to previous year

Social Performance Data; pg. 49

HC-BP-240b.3

Percentage change in: (1) list price and (2) net price of product with largest increase compared toprevious year

Pfizer is not reporting against this metric at this time.

Safety of Clinical Trial Participants

Access to Medicines

Affordability & Pricing

Pfizer 2023 Impact Report72

Introduction

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Environment

SocialESG Performance

Appendix

SASB
SASB Disclosure ID

SASB Disclosure Description

References and Responses

List of products listed in the FDA’s MedWatch Safety Alerts for Human Medical Products database

FDA MedWatch Safety Alerts for Human Medical Products database

Drug Safety
HC-BP-250a.1

Potential Signals of Serious Risks/New Safety Information Identified from the FDA Adverse
Event Reporting System (FAERS)

HC-BP-250a.2

Number of fatalities associated with products as reported in the FDA Adverse Event Reporting
System

FDA Adverse Event Reporting Systems

HC-BP-250a.3

Number of recalls issued; total units recalled

Ethics, Transparency, Quality; pg. 18

HC-BP-250a.4

Total amount of product accepted for takeback, reuse or disposal

Pfizer is not reporting against this metric at this time.

HC-BP-250a.5

Number of FDA enforcement actions taken in response to violations of current Good
Manufacturing Practices (cGMP), by type

Ethics, Transparency, Quality; pg. 18
Direct Response: The number of FDA inspections of Pfizer facilities that resulted in an enforcement action is disclosed; data includes both regulatory warning letter as well as enforcement
actions (e.g., seizure, injunction, criminal prosecution and / or criminal fines)

HC-BP-260a.1

Description of methods and technologies used to maintain traceability of products throughout the
supply chain and to prevent counterfeiting

Ethics, Transparency, Quality; pg. 19

HC-BP-260a.2

Discussion of process for alerting customers and business partners of potential or known risks
associated with counterfeit products

Ethics, Transparency, Quality; pg. 19

HC-BP-260a.3

Number of actions that led to raids, seizure, arrests, and/or filing of criminal charges related tocounterfeit products

Pfizer is not reporting against this metric at this time.

Counterfeit Drugs

Pfizer 2023 Impact Report73Introduction

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Environment

SocialESG Performance

Appendix

SASB
SASB Disclosure ID

SASB Disclosure Description

References and Responses

HC-BP-270a.1

Total amount of monetary losses as a result of legal proceedings associated with false marketingclaimsPfizer is not reporting against this metric at this time.

HC-BP-270a.2

Description of code of ethics governing promotion of off-label use of products

Ethics, Transparency, Quality; pg. 14-15
Direct Response: Our Global Policy on Interactions with Healthcare Professionals covers information on ethical marketing and off-label promotion. Furthermore, we disclose several policies andinformation that address ethical marketing and promotion of off-label use of products.

HC-BP-330a.1

Discussion of talent recruitment and retention efforts for scientists and research and development
personnel

Our People; pg. 38-42

HC-BP-330a.2

1.) Voluntary and 2.) Involuntary turnover rate for a.) executives/senior managers b.) mid-level
managers, c.) professionals, and d.) all others

Social Performance Data; pg. 53

Percentage of 1.) entity's facilities and 2.) Tier 1 supplier facilities participating in the Rx-360
International Pharmaceutical Supply Chain Consortium audit programs for integrity of supply chain
and ingredients

Pfizer is not reporting against this metric at this time.

HC-BP-510a.1

Total amount of monetary losses as a result of legal proceedings associated with corruption andbribery

Pfizer is not reporting against this metric at this time.

HC-BP-510a.2

Description of code of ethics governing interactions with healthcare professionals

Ethics, Transparency, Quality; pg. 14-15
The Blue Book
The Global Policy on Interactions with Healthcare Professionals

Ethical Marketing

Employee Recruitment, Development, and Retention

Supply Chain Management
HC-BP-430a.1

Business Ethics

Pfizer 2023 Impact Report74Introduction

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Environment

SocialESG Performance

SASB
SASB Disclosure ID

SASB Disclosure Description

References and Responses

HC-BP-000.A

Number of patients treated

Innovation and Global Health; pg. 34-35
Social Performance Metrics; pg. 49

HC-BP-000.B

Number of drugs 1.) In portfolio and 2.) in research and development

Innovation and Global Health; pg. 32-33
Social Performance Data; pg. 47

Description of effort to reduce the occurrence of compromised drugs with the supply chain

Ethics, Transparency, & Quality; pg. 19

SV-PS-330a.1

Percentage of gender and racial/ethnic group representation for 1.) executive managementand 2.) all other employees

Our People; pg. 42
Social Performance Data; pg. 50

SV-PS-330a.3

Employee engagement as a percentage

Social Performance Data; pg. 51

Activity Metrics

Other Relevant Industry Standards (not currently reported
under SASB, but included in ESG report)
Healthcare: Drug Retailers -Drug Supply Chain Integrity
HC-DR-250a.1

Services: Professional & Commercial Services - Workforce
Diversity & Engagement

Pfizer 2023 Impact Report75

AppendixIntroduction

Governance

Environment

SocialESG Performance

Appendix

Task Force on Climate-related Financial Disclosures Report
Pfizer recognizes the significant risks posed by climatechange, including potential adverse impacts on human health;increasing frequency of severe weather events impacting
communities, personnel and operations; and the potential
disruption of value chains critical to providing medicinesand vaccines to patients. That’s why we have made longstanding commitments to climate action through resource
conservation and greenhouse gas (GHG) emission reductions.
Over the period 2001—2020 we reduced our Scope 1 & 2
greenhouse gas emissions by 67%, fully delivering three
generations of GHG goals. In 2015, we were one of the firstcompanies to have our then GHG emissions reduction goal
approved by the Science Based Targets Initiative (SBTi), andwe remain committed to developing and implementing ascience-based climate action strategy. We aim to achieve thevoluntary Net Zero standard by 2040, 10 years ahead of thetimeline outlined in the standard. In addition, as described in
our Climate Change Position Statement, we conduct robust
risk assessments to safeguard resiliency of our research,
manufacturing, and commercial activities and to transparently
report on our progress, risks, and opportunities aligned with
Task Force on Climate-related Financial Disclosure (TCFD)
recommendations.

Pfizer 2023 Impact Report

GovernancePfizer has embedded Environmental, Social & Governance (ESG) principles
into the company’s Purpose and has identified climate change as oneof six priorities in Pfizer’s ESG strategy. Our climate change strategy ischampioned by the Executive Vice President, Chief Global Supply Officer,
who reports to the Chief Executive Officer (CEO). Implementation of
the strategy is led and managed by the Global Environment, Health and
Safety (EHS) team in partnership with Legal, with active engagement ofa cross-disciplinary team of leaders representing Engineering, Facilities,
Sourcing, Scientific and Manufacturing lines, and is integrated into Pfizer’s
operational and risk management processes as described below.

The Board is kept informed of its Committees’ risk oversight and otheractivities through reports by the Committee chairs to the full Board.
Pfizer’s integration of climate change into divisional and ERM processes
includes reviewing risks that could be material to the company to support
U.S. Securities and Exchange Commission (SEC) 10-K reporting. Moreinformation on the risk assessment process for climate change is provided in
the risk assessment section below.

Risk & Operational Governance

Manufacturing at our internal network of sites, managed by PGS, accounts
for over 70% of the company’s energy consumption and GHG emissions.
The Executive Vice President, Chief Global Supply Officer leads Pfizer’s
manufacturing and supply chain, serves as the executive sponsor of climatechange risk management and has operational control over PGS operations
and strategy, including operating expenses (OPEX) and capital expense(CAPEX) investment in GHG emission reduction projects.

The Governance & Sustainability Committee (G&SC) of Pfizer’s Board of
Directors, composed solely of independent directors, provides oversight of
Pfizer’s ESG strategy and reporting and corporate citizenship matters. The
Committee is regularly updated by management on Pfizer’s climate action
program and progress toward goals.

Environmental sustainability has been integrated into Pfizer’s businessstrategy and GHG emissions reduction is monitored as a key performanceindicator (KPI). Pfizer’s annual performance-based variable bonus program
includes a climate performance KPI as part of an ESG modifier to support
Pfizer’s commitment to reducing GHG emissions.

Pfizer’s Global Supply (PGS) Quality & Risk Committee (PGS QRC) reports
key risks, including those related to climate change, to the Executive
Compliance Committee (composed of Pfizer’s Executive Leadership Teamand the Head of Corporate Audit, chaired by chaired by the CEO), and to theRegulatory and Compliance Committee of the Board of Directors. The PGS
QRC risk management process also informs Pfizer’s ERM program.
Pfizer’s ERM program provides a framework for risk identification andmanagement of significant risks, including risks related to climate change
and the long-term sustainability of the business. Each risk is assigned to amember or members, as appropriate, of the Executive Leadership Team. The
Audit Committee of the Board of Directors, composed solely of independent
directors, has primary responsibility for overseeing Pfizer’s ERM program.
Periodically, the Regulatory and Compliance Committee and the Audit
Committee hold joint sessions to discuss risks relevant to both committees’
areas of risk oversight, including an annual discussion of the ERM program.

76

ESG Governance:
The ESG function within Pfizer and its cross-functional governing
committees (at the senior management and the executive level) have
responsibility for considering and adopting potential goals and targets,with escalation to the G&SC of the Board, based on input from experienced
subject matter experts and advisors.
Our cross-functional Sustainability Steering Committee, chaired by our
Chief Sustainability Officer, advises on key issues and guides the integrationand implementation of Pfizer’s non-financial reporting related to ESG. This
Committee is overseen by a dedicated Executive Sustainability Committee,
chaired by the Executive Leadership Team member leading Corporate
Affairs, who reports directly to the Chairman and CEO.

Introduction

Governance

Environment

ESG Performance

SocialAppendix

Task Force on Climate-related Financial Disclosures Report- continued

Strategy
Our Scenario Analysis Processvalidated with a wide range of stakeholders representing different Pfizer
functions and divisions. Impact ratings were assigned using the same
categorizations applied in our ERM framework.

To improve our understanding of Pfizer’s resilience to the impacts of climatechange, we conducted an in-depth assessment of our potential exposure
to physical and transition risks and opportunities that could have a potential
impact on our business using scenario analysis informed by data modellinginsights from a global sustainability consultancy. Each risk and opportunity
was qualitatively assessed using impact and uncertainty ratings andAligned with TCFD guidance, we assessed risks and opportunities on ashort- (2030) and long-term (2050) basis, while also considering transition
risks and opportunities on a medium-term basis (2040). This is aligned with
our strategic 2040 Net Zero planning, international and national climate
policy milestones, and the expected lifetime of our assets. Disclosures below
are not necessarily material, within the meaning of the U.S. federal securities

1

laws, and the inclusion herein of such disclosures should not be considered
as an admission of their materiality by Pfizer.
As climate scenarios are inherently uncertain, the scenario analysis
considered the full range of potential impacts from all scenarios without
considering the likelihood of each scenario developing. The top 20 risks andopportunities were prioritized based on the impact-uncertainty rating fora deeper dive using specific physical and transition scenarios described inTable 1.

Type

Scenario

2100 Warning

Description

Key Parameters & Assumptions

Physical

IPCC
SSP1-2.6+1.8%This scenario is aligned to the current commitments under the Paris Agreement. The world shifts
towards a more sustainable path, emphasizing more inclusive development, driven by an increasing
commitment to achieving development goals.

• Global Net Zero reached in 2050
• Renewables account for more than half of the energy supply by 2050
• Few challenges to climate mitigation and adaptation.

Physical

SSP5-8.5+4.4⁰CThis is a high emissions scenario with no additional climate policy (business-asusual). The push foreconomic and social development is coupled with the exploitation of abundant fossil fuel resources
and the adoption of resource and energy intensive lifestyles around the world.

• Energy demand triples by 2100, dominated by fossil fuels• Current atmospheric CO2 levels double by 2050
• Many challenges to climate mitigation, with few challenges to adaptation

Transform

NGFS Current
Policies (CP)+3%This scenario assumes that only currently implemented policies are preserved, with an
expected temperature outcome of ~3°C.

• Emissions peak in 2080
• IPCC’s SSP2 ‘Middle of the Road’ socioeconomic assumptions adjusted for COVID-19 impact1

Transform

NGFS Net Zero 2050
(NZ 2050)+1.5%This is an ambitious scenario that limits global warming to 1.5 °C through stringent climate policies
and innovation, reaching Net Zero CO₂ emissions around 2050.

• Ambitious climate policy is introduce immediately• Global Net Zero reached in 2050
• IPCC’s SSP2 ‘Middle of the Road’ socioeconomic assumptions adjusted for COVID-19 impact1

NGFS Climate Scenarios for central banks and supervisors. Network for Greening the Financial System, June 2021, p. 21.

Pfizer 2023 Impact Report77Introduction

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SocialESG Performance

Appendix

Task Force on Climate-related Financial Disclosures Report- continued

For each prioritized item, a scenario indicator was assigned, acting as a proxy to explore how it may develop in eachscenario. These were combined with exposure ratings, derived from the assigned impact rating, to give an overallrisk / opportunity rating at each timeframe. Items rated a high risk / opportunity at any timeframe are described inTable 2.

2

Risk or opportunity

TCFD Category

Description

Scenario & Risk /Opportunity Rating

Potential Financial Impact

Transition Risk Carbon

Policy & Legal

As policymakers implement carbon pricing mechanisms in more geographies, as well as increase the weight andscope of these mechanisms, Pfizer is increasingly exposed to the cost of carbon in our operations and could be
exposed to pass-through costs in the supply chain. Carbon prices are expected to increase dramatically in a Net Zeroscenario, reaching upwards of $200 / mtCO2e.

2030: High risk
2040: High risk
2050: High risk

Increased direct costs andincreased indirect (operating)costs

Transition Risk Stakeholder pressure todecarbonize capital assets

Technology

A growing need to decarbonize and reach Net Zero to meet both internal Net Zero targets and external stakeholderpressure will require large investment to decarbonize capital assets. This could include replacing production equipment with equipment that is newer and more efficient, runs on renewables or alternative fuel sources, or is electricallypowered. In the NZ2050 scenario, emissions in the chemicals sector decrease significantly, from almost 3,000M
mtCO2 in 2020 to less than 500M mtCO2 in 2040. Achieving this emissions reduction will require significant capital
investment.

2030: Medium risk
2040: High risk
2050: High risk

Increased capital expenditures,
decreased asset value or asset
useful life leading to write-offs,
and asset impairment or early
retirement of existing assets

Transition Risk Increasing energy pricevolatility

Resource
Efficiency

A transition away from fossil fuels may result in volatile energy and fuel prices. Rapid shifts away from fossil fuelsupplies without adequate low-carbon energy infrastructure in place could lead to supply constraints, which may be
exacerbated in a disorderly scenario. Gas price increases sharply in the NZ2050 scenario reaching almost $30 / gigajoule (GJ) in 2050, more than double the gas price in the CP scenario ($12.5 / GJ).

2030: Medium risk
2040: High risk
2050: High risk

Increased direct costs

Transition Risk –Increasing demand for
low-carbon products

MarketAn increasing number of national healthcare systems and countries have announced targets to become Net Zero by2030: Medium risk
future dates, e.g., NHS England 2050 Net Zero target which may impose additional requirements of their suppliers
2040: High risk
and a preference for low-carbon goods. There may be increasing pressure to decarbonize products across their whole 2050: High risk
life cycle including Scope 3 emissions. As ~80% of Pfizer’s emissions are Scope 3, there is additional complexity inproducing low-carbon products as it relies on suppliers decarbonizing their operations. Competitor products withlower emissions intensity / lower energy demand than Pfizer products may lead to substitution of Pfizer products,
resulting in reduced revenues.

Multiple sources are used to consider these uncertainties and variables. IPCC AR6 is one of the primary sources, but also includes sources for specific hazards such as flooding and water stress and drought, including WRI Aqueduct and Fathom-Global 2.0.

Pfizer 2023 Impact Report

78

Decreased revenues due toreduced demand for products
and services

Introduction

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Environment

SocialESG Performance

Appendix

Task Force on Climate-related Financial Disclosures Report- continued

2

Risk or opportunity

TCFD Category

Description

Scenario & Risk /Opportunity Rating

Transition
Opportunity – Increased
resilience to energy andfuel price volatility

Resource
Efficiency

Through replacing our capital assets to become more efficient and use alternative fuel sources, Pfizer could increase2030: High opportunity
resilience to volatile fuel and energy prices resulting from the low-carbon transition and increase returns on invest2040: High opportunity
ment in low-emissions technology. Gas price increases sharply in the NZ2050 scenario reaching almost $30 / GJ in
2050: High opportunity
2050, more than double the gas price in the CP scenario ($12.5 / GJ). Transitioning from gas to alternative sources ofheating therefore is a cost savings, reducing Pfizer’s exposure to increasing gas prices. Fuel prices would be expected
to follow a similar trajectory.

Decreased direct costs andincreased demand for products
and services

Transition
Opportunity – Increasing
demand for low-carbon
products

MarketAn increasing number of national healthcare systems and countries have announced targets to become Net Zero by
future dates, e.g., 2050 including in their supply chain i.e., the suppliers and pharmaceutical products used by healthcare providers. Healthcare systems may therefore prefer or require suppliers to provide lowcarbon products. If Pfizer’s
products are demonstrably lower in carbon than competitors, this may lead to increased demand for products andincrease revenue.

2030: Medium opportunity
2040: High opportunity
2050: High opportunity

Increased revenues resulting
from increased demand for
products and services

Physical Risk - Water scarcity and drought impact on
operations

Chronic physicalHigher temperatures and more extreme, less predictable, weather conditions under climate change are expected toaffect water availability by altering the distribution of rainfall, snowmelt, river flows and groundwater. A lower availability of water may heighten potential financial risk for Pfizer by increasing water costs, and / or reducing revenue due to
production shutdowns. By 2030, under a high emissions scenario, almost half of the 40 manufacturing and researchand development sites assessed during the scenario analysis are shown to be at a high risk of water scarcity anddrought.

2030: High risk
2050: High risk

Increased direct (operating)costs and decreased revenues
due to reduced production
capacity

Physical Risk River and extreme rainfall
flooding impact on operations and supply chain

Acute physical

Extreme weather events, including high levels of precipitation and extreme rainfall, are projected to increase due toclimate change. This is likely to heighten both the frequency and intensity of flooding, increasing the risk of physicaldamage to infrastructure, and / or supply chain disruption. By 2030, under a high emissions scenario, 7 of the 36 manufacturing sites assessed during the scenario analysis are shown to be at a high risk of flooding.

2030: High risk
2050: High risk

Increased capital expenditures,increased direct (operating)costs, decreased asset value
or asset useful life leading towriteoffs, and decreased revenues due to reduced production
capacity

Physical Risk Extreme heat impact
on operations andsupply chain

Acute physicalMaximum temperatures and the frequency of extreme heat events are anticipated to rise globally due to climate
2030: Low riskchange. A higher prevalence of this hazard may increase potential financial risk for Pfizer by increasing operating costs 2050: High risk
associated with running air conditioning, or backup generators if electricity supply is interrupted, and / or reducing
revenue due to production shutdowns. By 2050, under a high emissions scenario, eight of the 40 manufacturing andresearch and development sites assessed during the scenario analysis are shown to be at a high risk of extreme heat.

Multiple sources are used to consider these uncertainties and variables. IPCC AR6 is one of the primary sources, but also includes sources for specific hazards such as flooding and water stress and drought, including WRI Aqueduct and Fathom-Global 2.0.

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Potential Financial Impact

Increased direct costs anddecreased revenues due toreduced production
capacity.

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Task Force on Climate-related Financial Disclosures Report- continued

Strategic Resilience Under Climate Scenarios
Following the findings from the scenario analysis, we consider our current
business model and strategy to be resilient under the assessed scenarios.
A number of risks and opportunities were found to have potential impact
on financial performance and financial position for which mitigation
measures have been identified. Pfizer is working to quantify the financial
impact of selected potentially significant items.
Physical climate risks are currently managed through our Loss Prevention
and Business Resilience programs, described in further detail under Risk
Management. In July 2023, our manufacturing facility in Rocky Mount,North Carolina, was impacted by a tornado that passed through the area.
Most of the damage was sustained by the site’s warehouse facility, which
stored raw materials, packaging supplies, and finished medicines awaiting
release by quality assurance. Fortunately, no colleagues were seriously
injured as a result of the event. Our business resilience planning helped
to reduce the impact of the incident on manufacturing and supply, and we
also identified opportunities to further strengthen our program.
By achieving our Net Zero goal we can mitigate many transition risks andmaximize transition opportunities identified in the scenario analysis (e.g.,
meeting an increased demand for low-carbon products and minimizing our
exposure to volatile energy prices).
It should be noted that there are key uncertainties associated with using
global climate models to project the effects of physical risks on ourbusiness strategy. These include uncertainties in how:
• Future emissions could lead to changes in the global climate system;• Global changes correlate to local impacts; and,• Climate hazards could manifest due to natural variability which is not fully
captured by the models.
Trends in some physical climate hazards are also more difficult toproject than others. For example, hazards driven by rainfall variables(e.g., flooding, water stress and drought) and storms (e.g., tornadoes
and hurricanes) are more uncertain than those related to temperature

Pfizer 2023 Impact Reportvariables (e.g., extreme heat) as they depend on the response of regional
atmospheric circulations to global warming .
Key uncertainties that could influence our resilience to transition risks andopportunities include:• How quickly our suppliers can decarbonize, given that 80% of ouremissions are in the value chain rather than in our direct operations;• How quickly technology will become commercially available todecarbonize our company’s hard to abate GHG sources; and,• Whether and how healthcare systems and services will implement Net
Zero requirements in the supply chain.

Impact of Climate-related Risks and Opportunities on
our Businesses, Strategy, and Financial Planning
Climate-related risks and opportunities have influenced Pfizer’s businessstrategy and are incorporated into financial planning.
• In 2020, Pfizer completed a $1.25 billion ten-year sustainability bond, afirst for a biopharmaceutical company. Proceeds from the bond were used
to help manage our environmental impact and support increased patient
access to Pfizer’s medicines and vaccines, especially among underserved
populations, and strengthen healthcare systems. In total, $946 million
in net proceeds from the sustainability bond issuance were allocated toenvironmental projects supporting green design and construction of new
office and manufacturing facilities.
• Over the past few years, Pfizer has received an increasing number ofrequests for environmental performance information from current andprospective customers. While the level of influence that our environmental
performance has on customer purchasing decisions has not been fully
quantified, the revenue associated with customers requesting thisinformation is more than $100 million for pharmaceutical products and isfactored into revenue forecasts.

80• Annual targets are established for energy conservation project savings.
Our sites are required to maintain master plans that identify opportunities
for emission reductions. These projects are reviewed through our capitalproject appropriation process. The costs to implement these projects
as well as the expected cost savings are included in the site’s operating
budgets and/or capital plans as appropriate.
• Our Loss Prevention and Business Resilience programs assess andmanage potential impacts of acute and chronic physical risks on ouroperations. Assessments are refreshed annually. Costs to maintain
Pfizer’s risk engineering provider is estimated at $0.3 million annually.
Costs relating to property protection and supply chain management are
annualized, expected to be incurred annually and are incorporated into
existing budgets. Site protection systems improvements and maintenancecosts are estimated at $0.1 million annually. Direct staff costs related to
managing this risk is estimated at $2.0 million annually.

Risk Management
Pfizer’s strategy for managing climate-related risks and opportunities
includes our ambitious 2040 Net Zero target covering our operations andentire value chain. Measures we take to mitigate climate-related risks
include:• Operational emissions reductions – To achieve our public goals for
GHG emission reductions, Pfizer has implemented numerous efficiency
improvements to our operations. We look for opportunities to design
environmental sustainability attributes into new facility or renovation
projects, replace equipment at end of life with energy-efficient alternates,
and invest in no/low carbon technologies at our sites and in programs
that enable sourcing of clean energy from renewable sources. We are amember of Renewable Energy 100 (RE100) and have entered into virtual
power purchase agreements for renewable electricity from solar panels
in North America and the European Union that will effectively cover allof Pfizer’s purchased electricity in these jurisdictions. We have a goal toachieve 80% renewable electricity by 2025 and 100% by 2030. We are
currently working to develop site-specific emissions reduction plans toachieve our near-term (2030) and Net Zero (2040) targets.

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Task Force on Climate-related Financial Disclosures Report- continued• Research and innovation in sustainable science–Pfizer has a long
history of using the concepts of sustainable science and promoting themacross our industry. Through scientific innovation we aim to design more
efficient processes that can help reduce the environmental impact of our
medicines throughout the product life cycle. We are working to develop
sustainable product design principles to transform the way we work acrossall modalities in both research and development. We are conducting
representative life cycle assessments (LCAs) for small molecules,
large molecules, vaccines, and devices to identify those aspects of thedevelopment process that present the greatest opportunity for impact
reduction. Guided by these assessments, we are driving sustainable
innovation and impact reduction across the business. Pfizer is also
participating in a consortium that is working with NHS England to develop
a sector-wide standard for LCAs to improve transparency and support theassessment and reduction of the environmental impact of medicines.
• Loss Prevention and Business Continuity programs–Pfizer’s primarycontrols for the management of acute and chronic physical risks are ourinfrastructure and systems. Many of our facilities are located in areas
with limited exposure to physical risks and we have robust processes
in place to identify and mitigate potential vulnerabilities. Through ourLoss Prevention and Business Continuity programs we maintain plans tominimize business disruption, including alternative sourcing options andbuffer inventory (depending on product). Pfizer maintains resources forassessing and establishing business continuity arrangements such as theactivation of alternative supply chains. Supply chain and business continuity
professionals are retained as staff and consultants to ensure these plans are
updated at least annually, exercised at least annually, and key colleagues onsite are trained on their content and implementation.
• Working and engaging our suppliers-As part of our Net Zero goal we aim
to use our influence to catalyze ambitious GHG emissions reductions acrossour value chain. We are implementing a multipronged approach, including
embedding environmental sustainability criteria in our vendor selection
processes, strengthening expectations within contracts, and engaging
with key suppliers of goods and services as part of our goal to drive at least
64% by spend to adopt science based GHG emission reduction goals (SBT

Pfizer 2023 Impact Reportgoals) by 2025. Pfizer is part of Energize, a collaboration between global
pharmaceutical companies that provides pharmaceutical suppliers, some ofwhich may not otherwise have the internal resources or expertise available,
the opportunity to participate in the market for power purchase agreements.
We are also members of Activate, a collective action initiative supporting thedecarbonization of active pharmaceutical ingredient supply chains.

Metrics & Targets
Pfizer calculates Scope 1 and 2 emissions in accordance with the GHG
Protocol (revised edition). Our 2019-2022 GHG data (including Scope
3 categories 1-8 and 15) was independently assured pursuant to ISAE
3000 (revised) by ERM-CVS and verification of 2023 data is underway.
Emissions are reported annually in our CDP response and are broken down
by type, country, and business division. We also track metrics relative toour business continuity and disaster recovery programs (e.g., number ofsupplier assessments completed; sites with fully implemented plans forthe management of risk associated with natural perils such as flooding andsevere weather, noting it is not possible to state with certainty whether
individual weather events are a result of climate change).
Pfizer discloses our Scope 1, Scope 2 and certain Scope 3 emissions
annually through our CDP submittal and publishes our Scope 1 and 2
emissions in this annual Impact Report and on our website.
We have achieved three consecutive GHG reduction goals (2000-2007,
2007-2012, and 2012-2020) and have reduced our GHG emissions by
more than 60% since 2000. We remain committed to ambitious long-term
actions and have announced our ambition to achieve the Science Based
Target initiative’s voluntary Net Zero standard by 2040. As part of thecommitment, Pfizer aims to decrease our GHG emissions by 95% and value
chain emissions by 90% from 2019 levels by 2040 through accelerating
the transition away from fossil fuels and engaging suppliers to catalyze
equivalent action.

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Pfizer is continuing its near-term commitment to reduce Scope 1 and 2
greenhouse gas (GHG) emissions by 46% compared with a 2019 baselineby 2030, aligned with a 1.5⁰C trajectory, and to drive action by encouraging
suppliers to also set science-based GHG emissions reduction goals.
Recognizing that Scope 3 emissions are the most challenging to quantify
due to complex global value chains, inconsistent methodologies, and lackof transparent disclosure, we have launched initiatives to improve ourmeasurement and reporting capabilities and are collaborating with ourpharmaceutical peers to align on Scope 3 data collection and emissions
calculation methodologies.

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About This Report
This Impact Report details Pfizer’s
performance on Environmental, Social, andGovernance topics and contains non-financial
disclosures covering the period of January
1, 2023 through December 31, 2023, unlessotherwise stated. Our financial disclosures
can be found in our 2023 Annual Report on
Form 10-K and our 2023 Annual Review. We
plan to report our ESG performance on anannual basis.
This report covers all of Pfizer’s global operations included within the2023 financial statements, unless otherwise stated. Except where statedotherwise, this report does not include the operations of Seagen Inc., which
was acquired by Pfizer in December 2023. Our 2020 priority assessment
validated issues that traditionally have been viewed as meaningful to ourbusiness and our external stakeholders.
In addition, we intend to continually evaluate our performance reportingand enhance our related data collection processes and controls. Someof our disclosures in this report are estimates or based on assumptions,due to the inherent measurement uncertainties. As an example, becauseof patient privacy laws, data constraints, and contractual obligations, wehave used shipping data, financial performance, and third-party reports todetermine patient counts in support of our KPI measuring the number ofpatients treated. Although we believe such estimates and assumptions arereasonable, actual results will vary.
Except as indicated on this page, the information in this report has not been
audited, verified, or attested to by any third-party. We have obtained limited
assurance verification by ERM-CVS of certain greenhouse gas emissions
data that we submit to CDP. The terms “material” and “materiality” as usedin context of this report and in our GRI Index are different from such terms

Pfizer 2023 Impact Report

as used in the context of filings with the U.S. Securities and Exchange
Commission (SEC). Issues deemed material for the purposes of this report
should not necessarily be considered material for SEC reporting purposes.
This report has been reviewed by our Chief Sustainability Officer,
members of our Sustainability Steering Committee, and the Governance &Sustainability Committee of our Board of Directors.
Note: All trademarks mentioned in this report are the property of theirowners.

Global Reporting Frameworks
This report’s content is grounded in our ESG priority assessment and has
been informed by several globally recognized external frameworks. These
include the Global Reporting Initiative (GRI), Sustainability AccountingStandards Board (SASB), and Task Force on Climate-Related Financial
Disclosure (TCFD). We relied to some extent on each framework to develop
this report while formally adhering to none in their entirety.
Pfizer also considers elements of other ESG indices and sustainability
indicators—in particular, the Access to Medicine Index (ATMI) and theUnited Nations (UN) Sustainable Development Goals (also known as the
Global Goals).

Third Party Websites and Links
This Impact Report may contain references or links to other websites
maintained by third parties over whom Pfizer has no control. Such links
are provided merely as a convenience. Pfizer makes no warranties orrepresentations of any kind as to the accuracy, currency, or completeness of
any information contained in such third-party websites, including any third
party social media or mobile app platform. The information contained on
our website, our Facebook, YouTube, and LinkedIn pages or our X (formerly
known as Twitter) accounts is not incorporated by reference into this Impact
Report. Inclusion of any third-party link in this Impact Report does not imply
an endorsement or recommendation by Pfizer and a link to this Impact
Report from another website does not imply a relationship between Pfizer
and any third-party. Your use of any such third-party site or platform is atyour own risk and will be governed by such third-party’s terms and policies(including its privacy policy).

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Forward-Looking Statements
This Impact Report includes forward-looking statements about, among
other things, our performance on Environmental, Social, and Governancetopics, our ESG strategy, targets, and goals, company strategies, productpipeline, in-line products, product candidates, blockbuster potential, andour efforts to respond to COVID-19, including our COVID-19 products, thatare subject to substantial risks and uncertainties. We cannot guarantee thatany forward-looking statement will be realized. Should known or unknown
risks or uncertainties materialize or should underlying assumptions prove
inaccurate, actual results could vary materially from past results andthose anticipated, estimated or projected. Please refer to Pfizer’s Annual
Report on Form 10-K for the year ended December 31, 2023, and Pfizer’s
subsequent reports on Form 10-Q, including the sections thereof captioned“Risk Factors” and “Forward-Looking Information and Factors That May
Affect Future Results,” as well as Pfizer’s subsequent reports on Form 8-K
for a description of the substantial risks and uncertainties related to theforward-looking statements included in this Impact Report. These reports
are available on our website at www.pfizer.com and on the U.S. Securities
and Exchange Commission’s (SEC) website at www.sec.gov. The forwardlooking statements in this Impact Report speak only as of the original dateof this Impact Report, and we undertake no obligation to update or revise
any of these statements, as the result of new information or future events ordevelopments or otherwise.

Note on Non-Financial Reporting
Non-financial information is subject to measurement uncertainties
resulting from limitations inherent in the nature of, and the methods used ordetermining, such data. Some of our disclosures in this report are estimatesor based on assumptions due to the inherent measurement uncertainties.
The selection of different but acceptable measurement techniques canresult in materially different measurements. The precision of different
measurement techniques may also vary.
For questions or feedback, contact our ESG Office: ESG.Office@pfizer.com.

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The product information provided in this site is intended only forresidents of the U.S. The products discussed herein may havedifferent product labeling in different countries.
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All rights reserved
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