|         |                                                                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Second-Quarter 2016 Revenues of $13.1 Billion, Reflecting 13% Operational Growth Driven by the Inclusion of Legacy Hospira Operations and 9% Operational Growth from Pfizer Innovative Health |

|         |                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Second-Quarter 2016 Revenues for Pfizer Standalone (Excluding Legacy Hospira) of $12.0 Billion, Reflecting 4% Operational Growth |

|         |                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------|
| ▪ | Second-Quarter 2016 Reported Diluted EPS(1) of $0.33, Adjusted Diluted EPS(2) of $0.64 |

|         |                                                                                   |
|---------|-----------------------------------------------------------------------------------|
| ▪ | Reaffirmed 2016 Financial Guidance for Revenues and Adjusted Diluted EPS(2)  |

| OVERALL RESULTS                          |
|------------------------------------------|
|                                          |  |  |  |  |  |  |  |  |  |  |  |  |
|                                     |   |   |   |   |   |   |   |   |
| ($ in millions, exceptper share amounts) | Second-Quarter |   |   | Six Months |
|                                     | 2016 | 2015 | Change |   |   | 2016 | 2015 | Change |
| Revenues                                 | $  13,147 |  | $  11,853 |  | 11% |   |   | $  26,152 |  | $  22,717 |  | 15% |
| Reported Net Income(1)                   | 2,019 |  | 2,626 |  | (23%) |   |   | 5,036 |  | 5,002 |  | 1% |
| Reported Diluted EPS(1)                  | 0.33 |  | 0.42 |  | (21%) |   |   | 0.82 |  | 0.80 |  | 3% |
| Adjusted Net Income(2)                   | 3,901 |  | 3,525 |  | 11% |   |   | 8,056 |  | 6,721 |  | 20% |
| Adjusted Diluted EPS(2)                  | 0.64 |  | 0.56 |  | 14% |   |   | 1.30 |  | 1.07 |  | 21% |
|                                     |   |   |   |   |   |   |   |   |

----

| REVENUES                                |
|-----------------------------------------|
|                                         |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                    |   |   |   |   |   |   |   |   |   |   |
| ($ in millions)                         | Second-Quarter |   |   | Six Months |
|                                    | 2016 | 2015 | % Change |   |   | 2016 | 2015 | % Change |
|                                    | Total | Oper. |   |   | Total | Oper. |
| Innovative Health                       | $  7,105 |  | $  6,630 |  | 7% | 9% |   |   | $  14,139 |  | $  12,368 |  | 14% | 18% |
| Essential Health                        | $  6,042 |  | $  5,223 |  | 16% | 19% |   |   | $  12,013 |  | $  10,348 |  | 16% | 22% |
| EH Standalone(Excl. Legacy Hospira)     | 4,904 |  | 5,223 |  | (6%) | (3%) |   |   | 9,676 |  | 10,348 |  | (6%) | (1%) |
| Legacy Hospira                          | 1,138 |  | — |  | * | * |   |   | 2,337 |  | — |  | * | * |
| Total Company                           | $  13,147 |  | $  11,853 |  | 11% | 13% |   |   | $  26,152 |  | $  22,717 |  | 15% | 20% |
|                                    |   |   |   |   |   |   |   |   |   |   |
| Pfizer Standalone(Excl. Legacy Hospira) | $  12,009 |  | $  11,853 |  | 1% | 4% |   |   | $  23,815 |  | $  22,717 |  | 5% | 9% |
|                                    |   |   |   |   |   |   |   |   |   |   |

|                                                            |
|------------------------------------------------------------|
|                                                            |  |
|                                                       |   |
| Revenues                                                   | $51.0 to $53.0 billion |
| Adjusted Cost of Sales(2) as a Percentage of Revenues | 21.0% to 22.0% |
| Adjusted SI&A Expenses(2)                              | $13.7 to $14.7 billion |
| Adjusted R&D Expenses(2)                               | $7.4 to $7.8 billion |
| Adjusted Other (Income)/Deductions(2)                      | Approximately ($500 million) of income |
| Effective Tax Rate on Adjusted Income(2)                   | Approximately 24.0% |
| Adjusted Diluted EPS(2)                                    | $2.38 to $2.48 |
|                                                       |   |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | IH revenues increased 9% operationally, primarily due to continued strong momentum from Ibrance in the U.S., strong operational growth from Eliquis globally as well as Lyrica and Xeljanz, both primarily in the U.S.  This growth was partially offset by the expected decline in revenues for Prevnar 13 for adults in the U.S. due to a high initial capture rate of the eligible population following its successful fourth-quarter 2014 |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | EH revenues increased 19% operationally, primarily due to the inclusion of legacy Hospira operations, which contributed $1.1 billion, partially offset by the loss of exclusivity and associated generic competition for certain Peri-LOE Products(6), primarily Zyvox in the U.S. and certain developed Europe markets as well as Lyrica in certain developed Europe markets. Revenues excluding the contribution from the legacy Hospira portfolio (EH Standalone) declined 3% operationally, reflecting a 19% operational decline from the aforementioned Peri-LOE Products portfolio, partially offset by 11% operational growth from the EH Standalone Sterile Injectable Pharmaceuticals(6) portfolio and 2% operational growth from EH Standalone Legacy Established Products(6).  EH revenues in emerging markets increased 8% operationally, primarily driven by the inclusion of legacy Hospira operations and operational growth from the EH Standalone Sterile Injectable Pharmaceuticals portfolio.  |

| SELECTED TOTAL COMPANY REPORTED COSTS AND EXPENSES(1)  |
|-------------------------------------------------------------|
|                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                        |   |   |   |   |   |   |   |   |   |   |
| ($ in millions)(Favorable)/Unfavorable                      | Second-Quarter |   |   | Six Months |
|                                                        | 2016 | 2015 | % Change |   |   | 2016 | 2015 | % Change |
|                                                        | Total | Oper. |   |   | Total | Oper. |
| Cost of Sales(1)                                            | $  3,174 |  | $  2,180 |  | 46% | 37% |   |   | $  6,026 |  | $  4,018 |  | 50% | 46% |
| Percent of Revenues                                         | 24.1 | % | 18.4 | % | N/A | N/A |   |   | 23.0 | % | 17.7 | % | N/A | N/A |
| SI&A Expenses(1)                                        |  3,471 |  |  3,386 |  | 2% | 5% |   |   |  6,856 |  |  6,491 |  | 6% | 9% |
| R&D Expenses(1)                                         |  1,748 |  |  1,734 |  | 1% | 1% |   |   |  3,478 |  |  3,620 |  | (4%) | (3%) |
| Total                                                       | $  8,392 |  | $  7,301 |  | 15% | 14% |   |   | $  16,359 |  | $  14,129 |  | 16% | 16% |
|                                                        |   |   |   |   |   |   |   |   |   |   |
| Effective Tax Rate(1)                                       | 15.6 | % | 25.6 | % |   |   |   |   | 15.2 | % | 24.3 | % |   |   |
|                                                        |   |   |   |   |   |   |   |   |   |   |

----

| SELECTED TOTAL COMPANY ADJUSTED COSTS AND EXPENSES(2)  |
|-------------------------------------------------------------|
|                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                        |   |   |   |   |   |   |   |   |   |   |
| ($ in millions)(Favorable)/Unfavorable                      | Second-Quarter |   |   | Six Months |
|                                                        | 2016 | 2015 | % Change |   |   | 2016 | 2015 | % Change |
|                                                        | Total | Oper. |   |   | Total | Oper. |
| Adjusted Cost of Sales(2)                                   | $  3,062 |  | $  2,123 |  | 44% | 35% |   |   | $  5,627 |  | $  3,930 |  | 43% | 39% |
| Percent of Revenues                                         | 23.3 | % | 17.9 | % | N/A | N/A |   |   | 21.5 | % | 17.3 | % | N/A | N/A |
| Adjusted SI&A Expenses(2)                               |  3,443 |  |  3,372 |  | 2% | 5% |   |   |  6,811 |  |  6,449 |  | 6% | 9% |
| Adjusted R&D Expenses(2)                                |  1,740 |  |  1,732 |  | — | 1% |   |   |  3,463 |  |  3,609 |  | (4%) | (4%) |
| Total                                                       | $  8,246 |  | $  7,226 |  | 14% | 13% |   |   | $  15,901 |  | $  13,988 |  | 14% | 14% |
|                                                        |   |   |   |   |   |   |   |   |   |   |
| Effective Tax Rate on Adjusted Income(2)                    | 23.2 | % | 25.6 | % |   |   |   |   | 23.5 | % | 25.0 | % |   |   |
|                                                        |   |   |   |   |   |   |   |   |   |   |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Chantix/Champix (varenicline) -- Pfizer announced in May 2016 that the European Summary of Product Characteristics and Package Leaflet for Champix have been updated to include safety and efficacy data from the EAGLES (Evaluating Adverse Events in a Global Smoking Cessation Study) trial. As part of the update, the black triangle symbol, which indicated that additional safety monitoring for Champix in the EU was required, has been removed. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Ibrance (palbociclib) -- In June 2016, Pfizer presented final results from the Phase 3 PALOMA-2 trial for Ibrance, an oral, first-in-class inhibitor of cyclin-dependent kinases 4 and 6, as an oral presentation at the American Society of Clinical Oncology 2016 Annual Meeting (ASCO 2016). The study met its primary endpoint by demonstrating an improvement in progression-free survival (PFS) for the combination of Ibrance plus letrozole compared with letrozole plus placebo in post-menopausal women with estrogen receptor-positive, human epidermal growth factor receptor 2-negative (ER+, HER2-) advanced or metastatic breast cancer who had not received previous systemic treatment for their advanced disease. The PALOMA-2 trial provides confirmatory evidence for Ibrance in combination with letrozole in the first-line setting, which was first evaluated in the Phase 2 PALOMA-1 trial. These data will support additional planned global regulatory submissions and a request for conversion of the accelerated approval for Ibrance to regular approval in the U.S. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Prevnar 13 (Pneumococcal 13-valent Conjugate Vaccine [Diphtheria CRM197 Protein]) -- Pfizer announced in July 2016 that it received U.S. Food and Drug Administration (FDA) approval for an expanded age indication for Prevnar 13 to include adults 18 through 49 years of age, in addition to the already approved indications for adults 50 years and older for the prevention of pneumococcal pneumonia and invasive disease caused by 13 Streptococcus pneumoniae strains in the vaccine and for children 6 weeks through 17 years of age (prior to the 18th birthday) for the prevention of invasive disease caused by the 13 Streptococcus pneumoniae strains in the vaccine. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Sutent (sunitinib malate) -- Pfizer announced in July 2016 positive top-line results from the S-TRAC (Sunitinib Trial in Adjuvant Renal Cancer) trial, a Phase 3 study of Sutent versus placebo in the adjuvant setting. The study met its primary endpoint of improving disease-free survival (DFS) in patients with renal cell carcinoma (RCC) who are at high risk for recurrence after surgery. The S-TRAC trial is the first RCC trial of a tyrosine kinase inhibitor to prolong DFS in the adjuvant setting. Full efficacy and safety data will be submitted for presentation at the European Society for Medical Oncology (ESMO) 2016 Congress in October 2016. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Trumenba (Meningococcal Group B vaccine) -- Pfizer announced in May 2016 that the European Medicines Agency has accepted the Marketing Authorization Application for Trumenba for review. Trumenba has been developed for the prevention of invasive meningococcal disease caused by Neisseria meningitidis serogroup B in individuals aged 10 years and older and was approved in the U.S. in October 2014. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Xalkori (crizotinib) -- In July 2016, the Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending extension of the current indication of Xalkori in the EU to also include the treatment of adults with ROS1-positive advanced non-small cell lung cancer (NSCLC). The CHMP recommendation will now be reviewed by the European Commission, which is expected to issue a decision on whether to extend the EU indication in the coming months. This recommendation is based on efficacy and safety data from the Phase 1 PROFILE 1001 trial of crizotinib. |

|         |                               |
|---------|-------------------------------|
| ▪ | Xeljanz (tofacitinib citrate) |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | Pfizer announced in July 2016 positive top-line results from Oral Clinical Trials for tofAcitinib in ulceratiVE colitis (OCTAVE) Sustain, the third Phase 3 study of Xeljanz being investigated in patients with moderately to severely active ulcerative colitis (UC). OCTAVE Sustain is a 52 week study that evaluated oral tofacitinib 5 mg and 10 mg twice daily (BID) as a maintenance treatment in adult patients with moderately to severely active UC who previously completed and achieved clinical response in either the OCTAVE Induction 1 or OCTAVE Induction 2 studies. Top-line results from the OCTAVE Sustain study showed that the proportion of patients in remission at week 52, the primary efficacy endpoint, was significantly greater in both the tofacitinib 5 mg and 10 mg BID groups compared to placebo. No new or unexpected safety findings for tofacitinib were observed in the study. Detailed analyses of OCTAVE Sustain, including additional efficacy data, will be submitted for presentation at a |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | Pfizer recently withdrew all pending regulatory applications seeking approval of tofacitinib for the treatment of adult patients with moderate to severe chronic plaque psoriasis, including its supplemental new drug application in the U.S. following the October 2015 Complete Response Letter from the FDA. The withdrawal of these filings will allow Pfizer more time to determine the path forward for tofacitinib in this indication. Pfizer remains committed to advancing the tofacitinib clinical development program for rheumatoid arthritis, psoriatic arthritis (PsA) and UC. |

|         |                                                                                                                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | Pfizer announced in June 2016 positive top-line results from its second Phase 3 study investigating tofacitinib for the treatment of PsA in adult patients, Oral Psoriatic Arthritis triaL (OPAL) Beyond. The study met its primary efficacy endpoints with tofacitinib 5 mg BID and 10 mg BID compared to placebo treatment. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | ALO-02 (oxycodone hydrochloride and naltrexone hydrochloride) -- In June 2016, Pfizer announced that the FDA Anesthetic and Analgesic Drug Products Advisory Committee and Drug Safety and Risk Management Advisory Committee voted (9 to 6) in favor of approval of ALO-02 extended-release capsules for its proposed indication, “management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate.” The Committees recommended the inclusion of abuse-deterrent labeling for intranasal (11 to 4) and intravenous (9 to 6) routes of abuse. They voted against inclusion of abuse-deterrent labeling for the oral route (6 to 9). The FDA will take the Committees’ recommendations into consideration before taking action on the New Drug Application (NDA) for ALO-02. |

|         |                        |
|---------|------------------------|
| ▪ | Avelumab (MSB0010718C) |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | In July 2016, Merck KGaA, Darmstadt, Germany (Merck KGaA) and Pfizer announced the initiation of a Phase 3 study, JAVELIN Ovarian 100, to evaluate the efficacy and safety of avelumab in combination with, and/or as follow-on (maintenance) treatment to, platinum-based chemotherapy in patients with locally advanced or metastatic disease (Stage 3 or Stage 4) with previously untreated epithelial ovarian cancer. JAVELIN Ovarian 100 is the first Phase 3 study evaluating the addition of an immune checkpoint inhibitor to standard-of-care in first-line treatment for this aggressive disease. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| – | In June 2016, Merck KGaA and Pfizer presented data for avelumab across seven different cancers at ASCO 2016. The avelumab presentations, from the JAVELIN clinical development program, included results from a number of difficult-to-treat cancers, including data from the pivotal Phase 2 trial of avelumab as a potential second-line treatment for metastatic Merkel cell carcinoma. Additional avelumab data was presented in mesothelioma, adrenocortical carcinoma, NSCLC, and urothelial bladder, gastric and ovarian cancers, as well as updated safety data. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Bococizumab (PF-04950615, RN316) -- In June 2016, Pfizer announced positive top-line results for two additional Phase 3 trials, SPIRE-HR (High Risk) and SPIRE-FH (Familial Hypercholesterolemia).  Both studies met their primary endpoint, demonstrating a significant reduction in the percent change from baseline in low-density lipoprotein cholesterol (LDL-C) at 12 weeks compared to placebo among adults at high and very high risk for cardiovascular events who were receiving a maximally tolerated dose of a statin. SPIRE-HR and SPIRE-FH are the third and fourth of six Phase 3 lipid-lowering studies to complete and demonstrate positive top-line results. The two remaining Phase 3 lipid-lowering studies are anticipated to complete later in 2016. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Crisaborole Topical Ointment, 2% (AN2728) -- In July 2016, Pfizer announced that the findings from two pivotal Phase 3 studies of investigational crisaborole were published in the online issue of the Journal of the American Academy of Dermatology. The detailed results from the AD-301 and AD-302 studies showed that crisaborole achieved statistically significant results on primary and secondary endpoints for the treatment of atopic dermatitis in children two years of age and up and in adults compared to vehicle ointment alone. Crisaborole was obtained by Pfizer as part of the acquisition of Anacor, which was completed in June 2016. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Ertugliflozin (PF-04971729) -- Pfizer and Merck, known as MSD outside the U.S. and Canada, announced in June 2016 that two Phase 3 studies (VERTIS Mono and VERTIS Factorial) of ertugliflozin, an investigational oral SGLT-2 inhibitor for the treatment of patients with type 2 diabetes, both met their primary endpoints. Full results from the VERTIS clinical development program of ertugliflozin were presented for the first time in June 2016 at the Scientific Sessions of the American Diabetes Association. The companies also reaffirmed their plans to submit NDAs to the FDA for ertugliflozin and the two fixed-dose combination tablets (ertugliflozin plus Januvia®(7) and ertugliflozin plus metformin) by the end of 2016. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Inotuzumab Ozogamicin -- Pfizer announced in June 2016 the final results from the Phase 3 INO-VATE ALL study evaluating the safety and efficacy of inotuzumab ozogamicin as compared with investigator choice chemotherapy in adult patients with relapsed or refractory CD22-positive acute lymphoblastic leukemia. Results were presented as a late-breaking oral presentation (#LB2233) at the 21st Congress of the European Hematology Association (EHA) 2016 Annual Meeting. Final results were also published in the June 12, 2016 online issue of The New England Journal of Medicine. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Lorlatinib (PF-06463922) -- In June 2016, Pfizer presented encouraging new data from a Phase 1/2 study of lorlatinib (the proposed non-proprietary name for PF-06463922), an investigational, next-generation ALK/ROS1 tyrosine kinase inhibitor, in an oral presentation at ASCO 2016. The study showed clinical response in patients with ALK-positive or ROS1-positive advanced NSCLC, including patients with brain metastases. The ongoing Phase 2 study is expected to enroll a total of 240 patients across six cohorts (five for ALK-positive and one for ROS1-positive patients with NSCLC), with enrollment defined by degree and type of prior treatment. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | SPK-9001 -- Spark Therapeutics and Pfizer announced in July 2016 that the FDA has granted breakthrough therapy designation to SPK-9001, the lead investigational candidate in the companies’ SPK-FIX program, in development for the treatment of hemophilia B. SPK-9001, a novel bio-engineered adeno-associated virus (AAV) capsid expressing a codon-optimized, high-activity human factor IX variant, is being investigated in an ongoing Phase 1/2 trial as a potential one-time therapy. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Utomilumab (PF-05082566) -- In June 2016, Pfizer presented results from a Phase 1b trial of Pfizer’s investigational immunotherapy agent utomilumab (the proposed non-proprietary name for PF-05082566), a 4-1BB (also called CD137) agonist, in combination with pembrolizumab, a PD-1 inhibitor, in patients with advanced solid tumors. This is the first reported study of a 4-1BB agonist combined with a checkpoint inhibitor. Encouraging safety data from the study were shared in an oral presentation at ASCO 2016. Pfizer is investigating utomilumab as a single agent in certain solid tumors and in combinations across multiple solid tumors and hematological malignancies, including with rituximab in lymphoma and with other immunotherapies, including Pfizer's OX40 agonist (PF-04518600), Kyowa Hakko Kirin's anti-CCR4 (mogamulizumab) and avelumab (Merck KGaA and Pfizer alliance). |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | In August 2016, Pfizer acquired all remaining equity in Bamboo Therapeutics, Inc. (Bamboo), a privately held biotechnology company based in Chapel Hill, N.C., that is focused on developing gene therapies for the treatment of patients with certain rare diseases, for an upfront payment of $150 million plus potential milestone payments to Bamboo’s selling shareholders of up to $495 million, contingent upon the progression of key assets through development, regulatory approval and commercialization. Pfizer had previously acquired a 22% stake in Bamboo in the first quarter of 2016 for a payment of approximately $43 million. This acquisition will provide Pfizer with several clinical and pre-clinical assets that complement Pfizer's rare disease portfolio, an advanced AAV vector design and production technology, and a fully functional Phase 1/2 gene therapy manufacturing facility. Following the acquisition, Bamboo is now a wholly-owned subsidiary of Pfizer. |

|         |                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | In July 2016, Pfizer and Western Oncolytics announced that the companies have entered into a development collaboration, license and option agreement to advance Western Oncolytics’ novel oncolytic |

----

|         |                                                                                                                                                                                                                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | In June 2016, Pfizer announced that it completed its acquisition of Anacor for $99.25 in cash (without interest but subject to required withholding of taxes) per share of Anacor common stock, for a total transaction value, net of cash and cash equivalents, of approximately $5.2 billion. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Pfizer announced in March 2016 that it entered into an accelerated share repurchase agreement with Goldman, Sachs & Co. (GS&Co.) to repurchase $5 billion of Pfizer’s common stock. Pursuant to the terms of the agreement, on March 10, 2016, Pfizer paid $5 billion to GS&Co. and received an initial delivery of approximately 136 million shares of Pfizer common stock from GS&Co. Upon settlement of the agreement in June 2016 and pursuant to the agreement's settlement terms, GS&Co. delivered approximately 18 million additional shares of Pfizer common stock to Pfizer. After giving effect to the accelerated share repurchase agreement, Pfizer's remaining share-purchase authorization was approximately $11.4 billion as of August 2, 2016. |

----

|     |                                                                                                                                                                                                                                                                                                                                                                                           |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Revenues is defined as revenues in accordance with U.S. generally accepted accounting principles (GAAP). Reported net income is defined as net income attributable to Pfizer Inc. in accordance with U.S. GAAP. Reported diluted earnings per share (EPS) is defined as reported diluted EPS attributable to Pfizer Inc. common shareholders in accordance with U.S. GAAP.  |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Adjusted income and its components and Adjusted diluted EPS are defined as reported U.S. GAAP net income(1) and its components and reported diluted EPS(1) excluding purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items (some of which may recur, such as restructuring or legal charges, but which management does not believe are reflective of our ongoing core operations). Adjusted cost of sales, Adjusted selling, informational and administrative (SI&A) expenses, Adjusted research and development (R&D) expenses and Adjusted other (income)/deductions are income statement line items prepared on the same basis as, and therefore components of, the overall Adjusted income measure. As described in the Management's Discussion and Analysis of Financial Condition and Results of Operations––Non-GAAP Financial Measure (Adjusted Income) section of Pfizer's Quarterly Report on Form 10-Q for the fiscal quarter ended April 3, 2016, management uses Adjusted income, among other factors, to set performance goals and to measure the performance of the overall company. Because Adjusted income is an important internal measurement for Pfizer, we believe that investors’ understanding of our performance is enhanced by disclosing this performance measure. We report Adjusted income, and certain components of Adjusted income, in order to portray the results of our major operations––the discovery, development, manufacture, marketing and sale of prescription medicines, vaccines, medical devices and consumer healthcare (OTC) products––prior to considering certain income statement elements. See the accompanying reconciliations of certain GAAP Reported to Non-GAAP Adjusted information for the second quarter and first six months of 2016 and 2015. The Adjusted income and its components and Adjusted diluted EPS measures are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Effective in second-quarter 2016, Pfizer's operating structure was reorganized from three segments to two to reflect changes to how the innovative pharmaceutical, vaccine and consumer healthcare operations are managed. Pfizer Innovative Health was previously known as the Innovative Products business, which was comprised of the Global Innovative Pharmaceutical (GIP) and Global Vaccines, Oncology and Consumer Healthcare (VOC) segments. Additionally, the name of Pfizer's Established Products business, which consisted of the Global Established Pharmaceutical (GEP) segment, was changed to Pfizer Essential Health. For a description of the revenues in each business, see the Notes to Operating Segment Information section of this press release, which can be found on page 23. |

----

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | Effective as of the beginning of 2016, Pfizer’s entire contract manufacturing business, Pfizer CentreOne, is now part of Pfizer Essential Health. Pfizer CentreOne consists of (i) legacy Pfizer’s contract manufacturing and active pharmaceutical ingredient sales operation, including manufacturing and supply agreements with Zoetis Inc. (previously known as Pfizer CentreSource or PCS); and (ii) legacy Hospira’s One-2-One sterile injectables contract manufacturing operation. Prior to 2016, PCS was managed outside of Pfizer's operating segments and its revenues were reported as other business activities. Prior period PCS operating results have been reclassified to conform to the current period presentation as part of Essential Health. |

|     |                                                     |
|-----|-----------------------------------------------------|
| (5) | The 2016 financial guidance reflects the following: |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Pfizer does not provide guidance for GAAP Reported financial measures (other than Revenues) or a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP Reported financial measures on a forward-looking basis because it is unable to predict with reasonable certainty the ultimate outcome of pending litigation, unusual gains and losses, acquisition-related expenses and potential future asset impairments without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on GAAP Reported results for the guidance period.  |

|         |                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Does not assume the completion of any business development transactions not completed as of July 3, 2016, including any one-time upfront payments associated with such transactions.  |

|         |                                                                                                                                                                       |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Exchange rates assumed are a blend of the actual exchange rates in effect through second-quarter 2016 and mid-July 2016 exchange rates for the remainder of the year. |

|         |                                                                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Guidance for 2016 revenues reflects the anticipated negative impact of $2.3 billion due to recent and expected generic competition for certain products that have recently lost or are anticipated to soon lose patent protection. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Guidance for 2016 revenues also reflects the anticipated negative impact of $1.4 billion as a result of unfavorable changes in foreign exchange rates relative to the U.S. dollar compared to foreign exchange rates from 2015, including $0.8 billion due to the estimated significant negative currency impact related to Venezuela. The anticipated negative impact on adjusted diluted EPS(2) resulting from unfavorable changes in foreign exchange rates compared to foreign exchange rates from 2015 is approximately $0.10, including $0.07 due to the estimated significant negative currency impact related to Venezuela. |

|         |                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Guidance for adjusted diluted EPS(2) assumes diluted weighted-average shares outstanding of approximately 6.2 billion shares. |

----

|     |                                                                       |
|-----|-----------------------------------------------------------------------|
| (6) | The following are certain product categories within Essential Health: |

|         |                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Sterile Injectable Pharmaceuticals include generic injectables and proprietary specialty injectables (excluding Peri-LOE Products).  |

|         |                                                                                                                                                                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Peri-LOE Products include products that have recently lost or are anticipated to soon lose patent protection. These products primarily include Lyrica in certain developed Europe markets, Pristiq globally, Celebrex, Zyvox and Revatio in most developed markets, Vfend and Viagra in certain developed Europe markets and Japan, and Inspra in the EU.  |

|         |                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | Legacy Established Products include products that have lost patent protection (excluding Sterile Injectable Pharmaceuticals and Peri-LOE Products).  |

|     |                                                                                                                     |
|-----|---------------------------------------------------------------------------------------------------------------------|
| (7) | Januvia® is a registered trademark of Merck Sharp & Dohme Corp., a subsidiary of Merck & Co., Inc. |

|           |
|-----------|
|           |  |  |  |  |
| Contacts: | Media |   | Investors |   |
|      | Joan Campion | 212.733.2798 | Chuck Triano | 212.733.3901 |
|      |   |   | Ryan Crowe | 212.733.8160 |
|      |   |   | Bryan Dunn | 212.733.8917 |

----

|                                                                                   |
|-----------------------------------------------------------------------------------|
|                                                                                   |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                              |   | Second-Quarter |   | % Incr. / |   | Six Months |   | % Incr. / |
|                                                                              |   | 2016 |  |   | 2015 |  |   | (Decr.) |   | 2016 |  |   | 2015 |  |   | (Decr.) |
| Revenues(2)                                                                       |   | $ | 13,147 |  |   | $ | 11,853 |  |   | 11 |   | $ | 26,152 |  |   | $ | 22,717 |  |   | 15 |
| Costs and expenses:                                                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Cost of sales(3), (4)                                                             |   | 3,174 |  |   | 2,180 |  |   | 46 |   | 6,026 |  |   | 4,018 |  |   | 50 |
| Selling, informational and administrative expenses(3), (4)                        |   | 3,471 |  |   | 3,386 |  |   | 2 |   | 6,856 |  |   | 6,491 |  |   | 6 |
| Research and development expenses(3), (4)                                         |   | 1,748 |  |   | 1,734 |  |   | 1 |   | 3,478 |  |   | 3,620 |  |   | (4) |
| Amortization of intangible assets(4)                                              |   | 961 |  |   | 872 |  |   | 10 |   | 1,966 |  |   | 1,811 |  |   | 9 |
| Restructuring charges and certain acquisition-related costs(5)                    |   | 316 |  |   | 86 |  |   | * |   | 457 |  |   | 146 |  |   | * |
| Other (income)/deductions––net(6)                                     |   | 1,068 |  |   | 55 |  |   | * |   | 1,398 |  |   | 9 |  |   | * |
|                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Income from continuing operations before provision for taxes on income            |   | 2,410 |  |   | 3,539 |  |   | (32) |   | 5,971 |  |   | 6,621 |  |   | (10) |
| Provision for taxes on income(7)                                                  |   | 375 |  |   | 905 |  |   | (59) |   | 910 |  |   | 1,610 |  |   | (43) |
| Income from continuing operations                                                 |   | 2,035 |  |   | 2,635 |  |   | (23) |   | 5,060 |  |   | 5,011 |  |   | 1 |
| Discontinued operations––net of tax                                   |   | 1 |  |   | 1 |  |   | (14) |   | 1 |  |   | 6 |  |   | (89) |
| Net income before allocation to noncontrolling interests                          |   | 2,035 |  |   | 2,635 |  |   | (23) |   | 5,061 |  |   | 5,017 |  |   | 1 |
| Less: Net income attributable to noncontrolling interests                         |   | 16 |  |   | 9 |  |   | 82 |   | 25 |  |   | 14 |  |   | 77 |
| Net income attributable to Pfizer Inc.                                            |   | $ | 2,019 |  |   | $ | 2,626 |  |   | (23) |   | $ | 5,036 |  |   | $ | 5,002 |  |   | 1 |
|                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings per common share––basic:                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Income from continuing operations attributable to Pfizer Inc. common shareholders |   | $ | 0.33 |  |   | $ | 0.43 |  |   | (23) |   | $ | 0.82 |  |   | $ | 0.81 |  |   | 1 |
| Discontinued operations––net of tax                                   |   | — |  |   | — |  |   | — |   | — |  |   | — |  |   | — |
| Net income attributable to Pfizer Inc. common shareholders                        |   | $ | 0.33 |  |   | $ | 0.43 |  |   | (23) |   | $ | 0.82 |  |   | $ | 0.81 |  |   | 1 |
|                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings per common share––diluted:                                   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income from continuing operations attributable to Pfizer Inc. common shareholders |   | $ | 0.33 |  |   | $ | 0.42 |  |   | (21) |   | $ | 0.82 |  |   | $ | 0.80 |  |   | 3 |
| Discontinued operations––net of tax                                   |   | — |  |   | — |  |   | — |   | — |  |   | — |  |   | — |
| Net income attributable to Pfizer Inc. common shareholders                        |   | $ | 0.33 |  |   | $ | 0.42 |  |   | (21) |   | $ | 0.82 |  |   | $ | 0.80 |  |   | 3 |
| Weighted-average shares used to calculate earnings per common share:              |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                                             |   | 6,068 |  |   | 6,159 |  |   |   |   | 6,110 |  |   | 6,181 |  |   |   |
| Diluted                                                                           |   | 6,137 |  |   | 6,243 |  |   |   |   | 6,176 |  |   | 6,267 |  |   |   |

|   |                             |
|---|-----------------------------|
| * | Calculation not meaningful. |

----

|     |                                                                                                                                                                                                                                                            |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | The financial statements present the three and six months ended July 3, 2016 and June 28, 2015. Subsidiaries operating outside the U.S. are included for the three and six months ended May 29, 2016 and May 24, 2015. |

|     |                                                                                                                                                                                                                                                                                       |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Compared with the first six months of 2015, revenues for the first six months of 2016 were favorably impacted by approximately $800 million as a result of first-half 2016 having four additional selling days in the U.S. and four additional selling days in international markets. |

|     |                                                                                            |
|-----|--------------------------------------------------------------------------------------------|
| (3) | Exclusive of amortization of intangible assets, except as discussed in footnote (4) below. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | Amortization expense related to finite-lived acquired intangible assets that contribute to our ability to sell, manufacture, research, market and distribute products, compounds and intellectual property is included in Amortization of intangible assets, as these intangible assets benefit multiple business functions. Amortization expense related to intangible assets that are associated with a single function is included in Cost of sales, Selling, informational and administrative expenses and/or Research and development expenses, as appropriate. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5) | Included in Restructuring charges and certain acquisition-related costs are (i) restructuring charges of $140 million in the second quarter of 2016 and $170 million for the first six months of 2016 for employee termination costs, exit costs and asset impairments, which are largely associated with cost-reduction and productivity initiatives not associated with acquisitions; (ii) transaction costs, such as banking, legal, accounting and other similar services, of $36 million in the second quarter of 2016, most of which are directly related to our acquisition of Anacor Pharmaceuticals, Inc. (Anacor) in June 2016, and $60 million for the first six months of 2016, most of which are directly related to our acquisition of Anacor and the terminated transaction with Allergan plc (Allergan); and (iii) integration costs, representing external, incremental costs directly related to integrating acquired businesses, and primarily include expenditures for consulting and the integration of systems and processes, of $139 million in the second quarter of 2016 and $227 million for the first six months of 2016, primarily related to our acquisition of Hospira and the terminated transaction with Allergan. |

|     |                                                                        |
|-----|------------------------------------------------------------------------|
| (6) | Other (income)/deductions––net includes the following: |

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                         |   | Second-Quarter |   | Six Months |
| (MILLIONS OF DOLLARS)                        |   | 2016 |  |   | 2015 |  |   | 2016 |  |   | 2015 |  |
| Interest income(a)                           |   | $ | (122 | ) |   | $ | (119 | ) |   | $ | (234 | ) |   | $ | (211 | ) |
| Interest expense(a)                          |   | 292 |  |   | 278 |  |   | 598 |  |   | 587 |  |
| Net interest expense                         |   | 170 |  |   | 159 |  |   | 363 |  |   | 375 |  |
| Royalty-related income                       |   | (274 | ) |   | (257 | ) |   | (461 | ) |   | (479 | ) |
| Certain legal matters, net(b)                |   | 261 |  |   | 99 |  |   | 534 |  |   | 99 |  |
| Net gains on asset disposals(c)              |   | (31 | ) |   | (19 | ) |   | (39 | ) |   | (195 | ) |
| Certain asset impairments(d)                 |   | 816 |  |   | 25 |  |   | 947 |  |   | 25 |  |
| Business and legal entity alignment costs(e) |   | 60 |  |   | 63 |  |   | 111 |  |   | 164 |  |
| Other, net(f)                                |   | 66 |  |   | (15 | ) |   | (57 | ) |   | 20 |  |
| Other (income)/deductions––net   |   | $ | 1,068 |  |   | $ | 55 |  |   | $ | 1,398 |  |   | $ | 9 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | Interest income increased in the second quarter and first six months of 2016, primarily due to higher investment returns. Interest expense increased in the second quarter and first six months of 2016, primarily due to interest on legacy Hospira debt acquired in September 2015 and the addition of new fixed rate debt in the second quarter of 2016, partially offset by the maturity of other fixed rate debt. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | In the second quarter and first six months of 2016, primarily includes amounts to resolve a Multi-District Litigation relating to Celebrex and Bextra pending against the Company in New York federal court for $486 million, which is subject to the negotiation of a final settlement agreement and court approval, a portion of which was accrued for during the first quarter of 2016 and the full amount of which was accrued for during the first six months of 2016, partially offset by the reversal of a legal accrual where a loss is no longer deemed probable. In |

----

|     |                                                                                                                                                                                                                                                                                                                                                                                       |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (c) | In the first six months of 2016, primarily includes gains on sales/out-licensing of product and compound rights (approximately $31 million). In the first six months of 2015, primarily includes gains on sales/out-licensing of product and compound rights (approximately $69 million) and gains on sales of investments in equity securities (approximately $125 million). |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (d) | In the second quarter and first six months of 2016, primarily includes: (i) intangible asset impairment charges of $641 million, primarily related to developed technology rights for a generic injectable antibiotic product for the treatment of bacterial infections and an in-process research and development (IPR&D) compound for the treatment of anemia, both acquired in connection with our acquisition of Hospira; and (ii) impairment losses of $130 million in the second quarter of 2016 and $211 million in the first six months of 2016 related to Pfizer's 49%-owned equity-method investment with Zhejiang Hisun Pharmaceuticals Co., Ltd. in China. The first six months of 2016 also includes an impairment loss of $50 million related to Pfizer's 40%-owned equity-method investment in Laboratório Teuto Brasileiro S.A. |

|     |                                                                                                                                                                                                                                                                                                                                                     |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (e) | In the second quarter and first six months of 2016 and 2015, represents expenses for changes to our infrastructure to align our commercial operations, including costs to internally separate our businesses into distinct legal entities, as well as to streamline our intercompany supply operations to better support each business. |

|     |                                                                                                                                                                                                                                                                                                                                    |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (f) | In the second quarter and first six months of 2016, primarily includes, among other things, $150 million paid to Allergan for reimbursement of Allergan's expenses associated with the terminated transaction. The first six months of 2016 also includes $116 million from resolution of a contract disagreement. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (7) | The decrease in the effective tax rate for the second quarter of 2016 compared to the second quarter of 2015 was primarily due to (i) the favorable change in the jurisdictional mix of earnings as a result of operating fluctuations in the normal course of business, as well as (ii) an increase in benefits associated with the U.S. R&D tax credit, which was not in effect in the prior year quarter but was permanently extended on December 18, 2015. |

----

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                       | Second-Quarter 2016 |
|                                                                       | GAAP Reported(2) |   | Purchase Accounting Adjustments |   | Acquisition-Related Costs(3) |   | Discontinued Operations |   | Certain Significant Items(4) |   | Non-GAAP Adjusted(5) |
| Revenues                                                                   | $ | 13,147 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 13,147 |  |
| Cost of sales(6), (7)                                                      | 3,174 |  |   | (52 | ) |   | — |  |   | — |  |   | (60 | ) |   | 3,062 |  |
| Selling, informational and administrative expenses(6), (7)                 | 3,471 |  |   | (7 | ) |   | — |  |   | — |  |   | (21 | ) |   | 3,443 |  |
| Research and development expenses(6), (7)                                  | 1,748 |  |   | (1 | ) |   | — |  |   | — |  |   | (6 | ) |   | 1,740 |  |
| Amortization of intangible assets(7)                                       | 961 |  |   | (930 | ) |   | — |  |   | — |  |   | — |  |   | 31 |  |
| Restructuring charges and certain acquisition-related costs                | 316 |  |   | — |  |   | (202 | ) |   | — |  |   | (114 | ) |   | — |  |
| Other (income)/deductions––net                                 | 1,068 |  |   | 7 |  |   | — |  |   | — |  |   | (1,305 | ) |   | (230 | ) |
| Income from continuing operations before provision for taxes on income     | 2,410 |  |   | 984 |  |   | 202 |  |   | — |  |   | 1,506 |  |   | 5,101 |  |
| Provision for taxes on income                                              | 375 |  |   | 272 |  |   | 73 |  |   | — |  |   | 463 |  |   | 1,184 |  |
| Income from continuing operations                                          | 2,035 |  |   | 712 |  |   | 129 |  |   | — |  |   | 1,042 |  |   | 3,917 |  |
| Discontinued operations––net of tax                            | 1 |  |   | — |  |   | — |  |   | (1 | ) |   | — |  |   | — |  |
| Net income attributable to noncontrolling interests                        | 16 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 16 |  |
| Net income attributable to Pfizer Inc.                                     | 2,019 |  |   | 712 |  |   | 129 |  |   | (1 | ) |   | 1,042 |  |   | 3,901 |  |
| Earnings per common share attributable to Pfizer Inc.––diluted | 0.33 |  |   | 0.12 |  |   | 0.02 |  |   | — |  |   | 0.17 |  |   | 0.64 |  |

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                       | Six Months Ended July 3, 2016 |
|                                                                       | GAAP Reported(2) |   | Purchase Accounting Adjustments |   | Acquisition-Related Costs(3) |   | Discontinued Operations |   | Certain Significant Items(4) |   | Non-GAAP Adjusted(5) |
| Revenues                                                                   | $ | 26,152 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 26,152 |  |
| Cost of sales(6), (7)                                                      | 6,026 |  |   | (252 | ) |   | — |  |   | — |  |   | (147 | ) |   | 5,627 |  |
| Selling, informational and administrative expenses(6), (7)                 | 6,856 |  |   | (8 | ) |   | — |  |   | — |  |   | (36 | ) |   | 6,811 |  |
| Research and development expenses(6), (7)                                  | 3,478 |  |   | 1 |  |   | — |  |   | — |  |   | (16 | ) |   | 3,463 |  |
| Amortization of intangible assets(7)                                       | 1,966 |  |   | (1,905 | ) |   | — |  |   | — |  |   | — |  |   | 61 |  |
| Restructuring charges and certain acquisition-related costs                | 457 |  |   | — |  |   | (317 | ) |   | — |  |   | (140 | ) |   | — |  |
| Other (income)/deductions––net                                 | 1,398 |  |   | 27 |  |   | — |  |   | — |  |   | (1,805 | ) |   | (380 | ) |
| Income from continuing operations before provision for taxes on income     | 5,971 |  |   | 2,137 |  |   | 317 |  |   | — |  |   | 2,144 |  |   | 10,569 |  |
| Provision for taxes on income                                              | 910 |  |   | 596 |  |   | (26 | ) |   | — |  |   | 1,007 |  |   | 2,487 |  |
| Income from continuing operations                                          | 5,060 |  |   | 1,541 |  |   | 344 |  |   | — |  |   | 1,136 |  |   | 8,081 |  |
| Discontinued operations––net of tax                            | 1 |  |   | — |  |   | — |  |   | (1 | ) |   | — |  |   | — |  |
| Net income attributable to noncontrolling interests                        | 25 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 25 |  |
| Net income attributable to Pfizer Inc.                                     | 5,036 |  |   | 1,541 |  |   | 344 |  |   | (1 | ) |   | 1,136 |  |   | 8,056 |  |
| Earnings per common share attributable to Pfizer Inc.––diluted | 0.82 |  |   | 0.25 |  |   | 0.06 |  |   | — |  |   | 0.18 |  |   | 1.30 |  |

----

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                       | Second-Quarter 2015 |
|                                                                       | GAAP Reported(2) |   | Purchase Accounting Adjustments |   | Acquisition-Related Costs(3) |   | Discontinued Operations |   | Certain Significant Items(4) |   | Non-GAAP Adjusted(5) |
| Revenues                                                                   | $ | 11,853 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 11,853 |  |
| Cost of sales(6), (7)                                                      | 2,180 |  |   | (1 | ) |   | (17 | ) |   | — |  |   | (39 | ) |   | 2,123 |  |
| Selling, informational and administrative expenses(6), (7)                 | 3,386 |  |   | 1 |  |   | — |  |   | — |  |   | (15 | ) |   | 3,372 |  |
| Research and development expenses(6), (7)                                  | 1,734 |  |   | 2 |  |   | — |  |   | — |  |   | (4 | ) |   | 1,732 |  |
| Amortization of intangible assets(7)                                       | 872 |  |   | (839 | ) |   | — |  |   | — |  |   | — |  |   | 33 |  |
| Restructuring charges and certain acquisition-related costs                | 86 |  |   | — |  |   | (51 | ) |   | — |  |   | (35 | ) |   | — |  |
| Other (income)/deductions––net                                 | 55 |  |   | 3 |  |   | — |  |   | — |  |   | (211 | ) |   | (153 | ) |
| Income from continuing operations before provision for taxes on income     | 3,539 |  |   | 835 |  |   | 68 |  |   | — |  |   | 305 |  |   | 4,747 |  |
| Provision for taxes on income                                              | 905 |  |   | 238 |  |   | 18 |  |   | — |  |   | 52 |  |   | 1,213 |  |
| Income from continuing operations                                          | 2,635 |  |   | 597 |  |   | 50 |  |   | — |  |   | 252 |  |   | 3,534 |  |
| Discontinued operations––net of tax                            | 1 |  |   | — |  |   | — |  |   | (1 | ) |   | — |  |   | — |  |
| Net income attributable to noncontrolling interests                        | 9 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 9 |  |
| Net income attributable to Pfizer Inc.                                     | 2,626 |  |   | 597 |  |   | 50 |  |   | (1 | ) |   | 252 |  |   | 3,525 |  |
| Earnings per common share attributable to Pfizer Inc.––diluted | 0.42 |  |   | 0.10 |  |   | 0.01 |  |   | — |  |   | 0.04 |  |   | 0.56 |  |

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                       | Six Months Ended June 28, 2015 |
|                                                                       | GAAP Reported(2) |   | Purchase Accounting Adjustments |   | Acquisition-Related Costs(3) |   | Discontinued Operations |   | Certain Significant Items(4) |   | Non-GAAP Adjusted(5) |
| Revenues                                                                   | $ | 22,717 |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | 22,717 |  |
| Cost of sales(6), (7)                                                      | 4,018 |  |   | (3 | ) |   | (26 | ) |   | — |  |   | (60 | ) |   | 3,930 |  |
| Selling, informational and administrative expenses(6), (7)                 | 6,491 |  |   | 1 |  |   | — |  |   | — |  |   | (43 | ) |   | 6,449 |  |
| Research and development expenses(6), (7)                                  | 3,620 |  |   | 3 |  |   | — |  |   | — |  |   | (14 | ) |   | 3,609 |  |
| Amortization of intangible assets(7)                                       | 1,811 |  |   | (1,745 | ) |   | — |  |   | — |  |   | — |  |   | 67 |  |
| Restructuring charges and certain acquisition-related costs                | 146 |  |   | — |  |   | (65 | ) |   | — |  |   | (81 | ) |   | — |  |
| Other (income)/deductions––net                                 | 9 |  |   | 5 |  |   | — |  |   | — |  |   | (335 | ) |   | (320 | ) |
| Income from continuing operations before provision for taxes on income     | 6,621 |  |   | 1,738 |  |   | 91 |  |   | — |  |   | 532 |  |   | 8,982 |  |
| Provision for taxes on income                                              | 1,610 |  |   | 499 |  |   | 24 |  |   | — |  |   | 113 |  |   | 2,247 |  |
| Income from continuing operations                                          | 5,011 |  |   | 1,239 |  |   | 67 |  |   | — |  |   | 419 |  |   | 6,736 |  |
| Discontinued operations––net of tax                            | 6 |  |   | — |  |   | — |  |   | (6 | ) |   | — |  |   | — |  |
| Net income attributable to noncontrolling interests                        | 14 |  |   | — |  |   | — |  |   | — |  |   | — |  |   | 14 |  |
| Net income attributable to Pfizer Inc.                                     | 5,002 |  |   | 1,239 |  |   | 67 |  |   | (6 | ) |   | 419 |  |   | 6,721 |  |
| Earnings per common share attributable to Pfizer Inc.––diluted | 0.80 |  |   | 0.20 |  |   | 0.01 |  |   | — |  |   | 0.07 |  |   | 1.07 |  |

----

|     |                                                                                                                                           |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Certain amounts in the reconciliation of GAAP reported to Non-GAAP adjusted information and associated notes may not add due to rounding. |

|     |                                                                                                                                                                                                                                                            |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | The financial statements present the three and six months ended July 3, 2016 and June 28, 2015. Subsidiaries operating outside the U.S. are included for the three and six months ended May 29, 2016 and May 24, 2015. |

|     |                                                  |
|-----|--------------------------------------------------|
| (3) | Acquisition-related costs include the following: |

|                                                             |
|-------------------------------------------------------------|
|                                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                        |   | Second-Quarter |   | Six Months |
| (MILLIONS OF DOLLARS)                                       |   | 2016 |  |   | 2015 |  |   | 2016 |  |   | 2015 |  |
| Restructuring charges(a)                                    |   | $ | 26 |  |   | $ | 8 |  |   | $ | 30 |  |   | $ | 5 |  |
| Transaction costs(a)                                        |   | 36 |  |   | 1 |  |   | 60 |  |   | 6 |  |
| Integration costs(a)                                        |   | 139 |  |   | 42 |  |   | 227 |  |   | 54 |  |
| Additional depreciation––asset restructuring(b) |   | — |  |   | 17 |  |   | — |  |   | 26 |  |
| Total acquisition-related costs––pre-tax        |   | 202 |  |   | 68 |  |   | 317 |  |   | 91 |  |
| Income taxes(c)                                             |   | (73 | ) |   | (18 | ) |   | 26 |  |   | (24 | ) |
| Total acquisition-related costs––net of tax     |   | $ | 129 |  |   | $ | 50 |  |   | $ | 344 |  |   | $ | 67 |  |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | Restructuring charges include employee termination costs, asset impairments and other exit costs associated with business combinations. In the second quarter and first six months of 2016, restructuring charges primarily relate to our acquisitions of Hospira in September 2015 and Anacor Pharmaceuticals, Inc. (Anacor) in June 2016. Transaction costs represent external costs for banking, legal, accounting and other similar services, most of which in the second quarter of 2016 are directly related to our acquisition of Anacor, and most of which in the first six months of 2016 are directly related to our acquisition of Anacor and the terminated transaction with Allergan plc (Allergan). Integration costs represent external, incremental costs directly related to integrating acquired businesses, and primarily include expenditures for consulting and the integration of systems and processes. In the second quarter and first six months of 2016, integration costs primarily relate to our acquisition of Hospira and the terminated transaction with Allergan. Integration costs in 2015 represent external incremental costs directly related to our acquisition of Hospira. All of these costs and charges are included in Restructuring charges and certain acquisition-related costs. |

|     |                                                                                                                                                                                                                                     |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Represents the impact of changes in the estimated useful lives of assets involved in restructuring actions related to acquisitions. Included in Cost of sales for both the second quarter and first six months of 2015. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (c) | Included in Provision for taxes on income. Income taxes includes the tax effect of the associated pre-tax amounts, calculated by determining the jurisdictional location of the pre-tax amounts and applying that jurisdiction’s applicable tax rate. The first six months of 2016 were unfavorably impacted by the remeasurement of certain deferred tax liabilities resulting from plant network restructuring activities. |

|     |                                                  |
|-----|--------------------------------------------------|
| (4) | Certain significant items include the following: |

|                                                                                      |
|--------------------------------------------------------------------------------------|
|                                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                 |   | Second-Quarter |   | Six Months |
| (MILLIONS OF DOLLARS)                                                                |   | 2016 |  |   | 2015 |  |   | 2016 |  |   | 2015 |  |
| Restructuring charges(a)                                                             |   | $ | 114 |  |   | $ | 35 |  |   | $ | 140 |  |   | $ | 81 |  |
| Implementation costs and additional depreciation––asset restructuring(b) |   | 117 |  |   | 56 |  |   | 228 |  |   | 114 |  |
| Certain legal matters, net(c)                                                        |   | 261 |  |   | 92 |  |   | 546 |  |   | 92 |  |
| Certain asset impairments(d)                                                         |   | 816 |  |   | — |  |   | 947 |  |   | — |  |
| Business and legal entity alignment costs(e)                                         |   | 60 |  |   | 63 |  |   | 111 |  |   | 164 |  |
| Other(f)                                                                             |   | 138 |  |   | 58 |  |   | 172 |  |   | 81 |  |
| Total certain significant items––pre-tax                                 |   | 1,506 |  |   | 305 |  |   | 2,144 |  |   | 532 |  |
| Income taxes(g)                                                                      |   | (463 | ) |   | (52 | ) |   | (1,007 | ) |   | (113 | ) |
| Total certain significant items––net of tax                              |   | $ | 1,042 |  |   | $ | 252 |  |   | $ | 1,136 |  |   | $ | 419 |  |

|     |                                                                                                                                                                  |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | Relates to our cost-reduction and productivity initiatives not related to acquisitions. Included in Restructuring charges and certain acquisition-related costs. |

----

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | Relates to our cost-reduction and productivity initiatives not related to acquisitions. Virtually all included in Cost of sales ($90 million), Selling, informational and administrative expenses ($20 million) and Research and development expenses ($6 million) for second-quarter 2016. Virtually all included in Cost of sales ($180 million), Selling, informational and administrative expenses ($33 million) and Research and development expenses ($14 million) for the first six months of 2016. Virtually all included in Cost of sales ($39 million), Selling, informational and administrative expenses ($13 million) and Research and development expenses ($4 million) for second-quarter 2015. Virtually all included in Cost of sales ($61 million), Selling, informational and administrative expenses ($39 million) and Research and development expenses ($14 million) for the first six months of 2015. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (c) | Included in Other (income)/deductions––net. In the second quarter and first six months of 2016, primarily includes amounts to resolve a Multi-District Litigation relating to Celebrex and Bextra pending against the Company in New York federal court for $486 million, which is subject to the negotiation of a final settlement agreement and court approval, a portion of which was accrued for during the first quarter of 2016 and the full amount of which was accrued for during the first six months of 2016, partially offset by the reversal of a legal accrual where a loss is no longer deemed probable. In addition, the first six months of 2016 includes a settlement related to a patent matter. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (d) | Included in Other (income)/deductions––net. In the second quarter and first six months of 2016, primarily includes: (i) intangible asset impairment charges of $641 million, primarily related to developed technology rights for a generic injectable antibiotic product for the treatment of bacterial infections and an in-process research and development (IPR&D) compound for the treatment of anemia, both acquired in connection with our acquisition of Hospira; and (ii) impairment losses of $130 million in the second quarter of 2016 and $211 million in the first six months of 2016 related to Pfizer's 49%-owned equity-method investment with Zhejiang Hisun Pharmaceuticals Co., Ltd. in China. The first six months of 2016 also includes an impairment loss of $50 million related to Pfizer's 40%-owned equity-method investment in Laboratório Teuto Brasileiro S.A. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                             |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (e) | Included in Other (income)/deductions––net. In the second quarter and first six months of 2016 and 2015, represents expenses for changes to our infrastructure to align our commercial operations, including costs to internally separate our businesses into distinct legal entities, as well as to streamline our intercompany supply operations to better support each business. |

|     |                                                                                                                                                                                                                                                                                                                                                   |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (f) | For the second quarter and first six months of 2016 and 2015, primarily all included in Other (income)/deductions––net. In the second quarter and first six months of 2016, primarily includes $150 million paid to Allergan for reimbursement of Allergan's expenses associated with the terminated transaction. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (g) | Included in Provision for taxes on income. Income taxes includes the tax effect of the associated pre-tax amounts, calculated by determining the jurisdictional location of the pre-tax amounts and applying that jurisdiction’s applicable tax rate. The first six months of 2016 was favorably impacted by benefits related to the final resolution (pending court approval) of an agreement in principle reached in February 2016 to resolve certain claims related to Protonix, which resulted in the receipt of information that raised our assessment of the likelihood of prevailing on the technical merits of our tax position, as well as benefits associated with our Venezuela operations. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5) | Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. Despite the importance of these measures to management in goal setting and performance measurement (as described in the “Management's Discussion and Analysis of Financial Condition and Results of Operations––Non-GAAP Financial Measure (Adjusted Income)” section of Pfizer's Quarterly Report on Form 10-Q for the fiscal quarter ended April 3, 2016), Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are Non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP and, therefore, have limits in their usefulness to investors. Because of their non-standardized definitions, Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS (unlike U.S. GAAP net income and its components and diluted EPS) may not be comparable to the calculation of similar measures of other companies. Non-GAAP Adjusted income and its components and Non-GAAP Adjusted diluted EPS are presented solely to permit investors to more fully understand how management assesses performance. |

|     |                                                                                            |
|-----|--------------------------------------------------------------------------------------------|
| (6) | Exclusive of amortization of intangible assets, except as discussed in footnote (7) below. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (7) | Amortization expense related to finite-lived acquired intangible assets that contribute to our ability to sell, manufacture, research, market and distribute products, compounds and intellectual property is included in Amortization of intangible assets as these intangible assets benefit multiple business functions. Amortization expense related to intangible assets that are associated with a single function is included in Cost of sales, Selling, informational and administrative expenses and/or Research and development expenses, as appropriate. |

----

|                                                                        |
|------------------------------------------------------------------------|
|                                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                   |   | Second-Quarter 2016 |
|                                                                   |   | Innovative Health (IH)(2) |   | Essential Health (EH)(2) |   | Other(2), (3) |   | Non-GAAP Adjusted(4) |   | Reconciling Items(5) |   | GAAP Reported |
| Revenues                                                               |   | $ | 7,105 |  |   | $ | 6,042 |  |   | $ | — |  |   | $ | 13,147 |  |   | $ | — |  |   | $ | 13,147 |  |
| Cost of sales                                                          |   | 997 |  |   | 1,678 |  |   | 388 |  |   | 3,062 |  |   | 112 |  |   | 3,174 |  |
| % of revenue                                                           |   | 14.0 | % |   | 27.8 | % |   | * |  |   | 23.3 | % |   | * |  |   | 24.1 | % |
| Selling, informational and administrative expenses                     |   | 1,615 |  |   | 885 |  |   | 943 |  |   | 3,443 |  |   | 28 |  |   | 3,471 |  |
| Research and development expenses                                      |   | 583 |  |   | 308 |  |   | 849 |  |   | 1,740 |  |   | 7 |  |   | 1,748 |  |
| Amortization of intangible assets                                      |   | 24 |  |   | 7 |  |   | — |  |   | 31 |  |   | 930 |  |   | 961 |  |
| Restructuring charges and certain acquisition-related costs            |   | — |  |   | — |  |   | — |  |   | — |  |   | 316 |  |   | 316 |  |
| Other (income)/deductions––net                             |   | (292 | ) |   | (34 | ) |   | 96 |  |   | (230 | ) |   | 1,298 |  |   | 1,068 |  |
| Income from continuing operations before provision for taxes on income |   | 4,179 |  |   | 3,198 |  |   | (2,276 | ) |   | 5,101 |  |   | (2,691 | ) |   | 2,410 |  |
|                                                                   |
|                                                                   |   | Six Months Ended July 3, 2016 |
|                                                                   |   | Innovative Health (IH)(2) |   | Essential Health (EH)(2) |   | Other(2), (3) |   | Non-GAAP Adjusted(4) |   | Reconciling Items(5) |   | GAAP Reported |
| Revenues                                                               |   | $ | 14,139 |  |   | $ | 12,013 |  |   | $ | — |  |   | $ | 26,152 |  |   | $ | — |  |   | $ | 26,152 |  |
| Cost of sales                                                          |   | 1,891 |  |   | 3,131 |  |   | 605 |  |   | 5,627 |  |   | 399 |  |   | 6,026 |  |
| % of revenue                                                           |   | 13.4 | % |   | 26.1 | % |   | * |  |   | 21.5 | % |   | * |  |   | 23.0 | % |
| Selling, informational and administrative expenses                     |   | 3,300 |  |   | 1,622 |  |   | 1,889 |  |   | 6,811 |  |   | 44 |  |   | 6,856 |  |
| Research and development expenses                                      |   | 1,145 |  |   | 584 |  |   | 1,734 |  |   | 3,463 |  |   | 15 |  |   | 3,478 |  |
| Amortization of intangible assets                                      |   | 48 |  |   | 13 |  |   | — |  |   | 61 |  |   | 1,905 |  |   | 1,966 |  |
| Restructuring charges and certain acquisition-related costs            |   | — |  |   | — |  |   | — |  |   | — |  |   | 457 |  |   | 457 |  |
| Other (income)/deductions––net                             |   | (528 | ) |   | (194 | ) |   | 342 |  |   | (380 | ) |   | 1,778 |  |   | 1,398 |  |
| Income from continuing operations before provision for taxes on income |   | 8,282 |  |   | 6,857 |  |   | (4,570 | ) |   | 10,569 |  |   | (4,598 | ) |   | 5,971 |  |

|   |                             |
|---|-----------------------------|
| * | Calculation not meaningful. |

----

|                                                                        |
|------------------------------------------------------------------------|
|                                                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                   |   | Second-Quarter 2015 |
|                                                                   |   | Innovative Health (IH)(2) |   | Essential Heath (EH)(2) |   | Other(2), (3) |   | Non-GAAP Adjusted(4) |   | Reconciling Items(5) |   | GAAP Reported |
| Revenues                                                               |   | $ | 6,630 |  |   | $ | 5,223 |  |   | $ | — |  |   | $ | 11,853 |  |   | $ | — |  |   | $ | 11,853 |  |
| Cost of sales                                                          |   | 937 |  |   | 1,042 |  |   | 144 |  |   | 2,123 |  |   | 58 |  |   | 2,180 |  |
| % of revenue                                                           |   | 14.1 | % |   | 19.9 | % |   | * |  |   | 17.9 | % |   | * |  |   | 18.4 | % |
| Selling, informational and administrative expenses                     |   | 1,619 |  |   | 840 |  |   | 913 |  |   | 3,372 |  |   | 15 |  |   | 3,386 |  |
| Research and development expenses                                      |   | 573 |  |   | 219 |  |   | 941 |  |   | 1,732 |  |   | 2 |  |   | 1,734 |  |
| Amortization of intangible assets                                      |   | 23 |  |   | 10 |  |   | — |  |   | 33 |  |   | 839 |  |   | 872 |  |
| Restructuring charges and certain acquisition-related costs            |   | — |  |   | — |  |   | — |  |   | — |  |   | 86 |  |   | 86 |  |
| Other (income)/deductions––net                             |   | (286 | ) |   | (31 | ) |   | 164 |  |   | (153 | ) |   | 209 |  |   | 55 |  |
| Income from continuing operations before provision for taxes on income |   | 3,764 |  |   | 3,144 |  |   | (2,161 | ) |   | 4,747 |  |   | (1,208 | ) |   | 3,539 |  |
|                                                                   |
|                                                                   |   | Six Months Ended June 28, 2015 |
|                                                                   |   | Innovative Health (IH)(2) |   | Essential Health (EH)(2) |   | Other(2), (3) |   | Non-GAAP Adjusted(4) |   | Reconciling Items(5) |   | GAAP Reported |
| Revenues                                                               |   | $ | 12,368 |  |   | $ | 10,348 |  |   | $ | — |  |   | $ | 22,717 |  |   | $ | — |  |   | $ | 22,717 |  |
| Cost of sales                                                          |   | 1,703 |  |   | 2,044 |  |   | 182 |  |   | 3,930 |  |   | 89 |  |   | 4,018 |  |
| % of revenue                                                           |   | 13.8 | % |   | 19.8 | % |   | * |  |   | 17.3 | % |   | * |  |   | 17.7 | % |
| Selling, informational and administrative expenses                     |   | 3,021 |  |   | 1,544 |  |   | 1,884 |  |   | 6,449 |  |   | 42 |  |   | 6,491 |  |
| Research and development expenses                                      |   | 1,315 |  |   | 419 |  |   | 1,875 |  |   | 3,609 |  |   | 10 |  |   | 3,620 |  |
| Amortization of intangible assets                                      |   | 47 |  |   | 20 |  |   | — |  |   | 67 |  |   | 1,745 |  |   | 1,811 |  |
| Restructuring charges and certain acquisition-related costs            |   | — |  |   | — |  |   | — |  |   | — |  |   | 146 |  |   | 146 |  |
| Other (income)/deductions––net                             |   | (531 | ) |   | (38 | ) |   | 249 |  |   | (320 | ) |   | 329 |  |   | 9 |  |
| Income from continuing operations before provision for taxes on income |   | 6,813 |  |   | 6,359 |  |   | (4,190 | ) |   | 8,982 |  |   | (2,361 | ) |   | 6,621 |  |

|   |                             |
|---|-----------------------------|
| * | Calculation not meaningful. |

----

|     |                                                                                                        |
|-----|--------------------------------------------------------------------------------------------------------|
| (1) | Certain amounts in the operating segment information and associated notes may not add due to rounding. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Amounts represent the revenues and costs managed by each of our business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The expenses generally include only those costs directly attributable to the segment. Effective in the second quarter of 2016, our segments were reorganized to reflect that we now manage our innovative pharmaceutical and consumer healthcare operations as one business segment, Pfizer Innovative Health (previously these businesses were managed as two segments: the Global Innovative Pharmaceutical segment and the Global Vaccines, Oncology and Consumer Healthcare segment). Also, in the second quarter of 2016, we changed the name of our Established Products business to Pfizer Essential Health. We have revised prior-period segment information to reflect the reorganization. |

|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |  |  |
| Some additional information about our business segments follows:                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| Pfizer Innovative Health (IH) Segment                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | Pfizer Essential Health (EH) Segment |
| IH focuses on developing and commercializing novel, value-creating medicines and vaccines that significantly improve patients’ lives, as well as products for consumer healthcare. Key therapeutic areas include vaccines, oncology, inflammation/immunology, cardiovascular/metabolic, neuroscience/pain, rare diseases and consumer healthcare and include leading brands, such as Prevnar/Prevenar 13, Xeljanz, Eliquis, Lyrica (U.S., Japan and certain other markets), Enbrel (outside the U.S. and Canada) and Viagra (U.S. and Canada), as well as several well-known, over-the-counter (OTC) consumer products. |   | EH includes legacy brands that have lost or will soon lose market exclusivity in both developed and emerging markets, branded generics, generic sterile injectable products, biosimilars and infusion systems. EH also includes a new EH research and development organization as well as our contract manufacturing business. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Our entire contract manufacturing business, Pfizer CentreOne, is part of EH. Pfizer CentreOne consists of (i) the revenues and expenses of legacy Pfizer's contract manufacturing and active pharmaceutical ingredient sales operation, including the revenues and expenses related to our manufacturing and supply agreements with Zoetis Inc. (previously known as Pfizer CentreSource or PCS); and (ii) the revenues and expenses of legacy Hospira's One-2-One sterile injectables contract manufacturing operation, which has been included in EH since we acquired Hospira on September 3, 2015. Prior to 2016, PCS was managed outside our operating segments as part of Pfizer Global Supply and reported as "Other Business Activities". We have reclassified prior period PCS operating results ($133 million of PCS revenues and $30 million of PCS earnings in the second quarter of 2015, and $244 million of PCS revenues and $52 million of PCS earnings in the first six months of 2015) to conform to the current period presentation as part of EH. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In connection with the formation of a new EH Research and Development (R&D) organization, certain functions transferred from Pfizer’s Worldwide Research and Development (WRD) organization to the new EH R&D organization. The new R&D organization within EH expects to develop potential new sterile injectable drugs and therapeutic solutions, as well as biosimilars. We have reclassified approximately $67 million of costs in the second quarter of 2015 and $134 million of costs in the first six months of 2015 from WRD to EH to conform to the current period presentation as part of EH. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | In connection with the formation of the Global Product Development (GPD) organization, a new unified center for late-stage development for our innovative products, which is generally responsible for the clinical development of assets that have achieved proof-of-concept across our innovative portfolio, certain development-related functions transferred from IH to GPD. We have reclassified approximately $76 million of costs in the first quarter of 2016, approximately $73 million of costs in the second quarter of 2015 and approximately $147 million of costs in the first six months of 2015 from IH to GPD to conform to the current period presentation as part of GPD. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | IH––The slight decrease in Cost of sales as a percentage of Revenues was primarily driven by a favorable change in product mix, including an increase in alliance revenues, which have no associated cost of sales, partially offset by unfavorable foreign exchange. The increase in Cost of sales was primarily driven by unfavorable foreign exchange and an increase in royalty expense, partially offset by favorable product mix. The slight decrease in Selling, informational and administrative expenses reflects favorable foreign exchange, offset by additional investment in Prevnar 13 and Eliquis. The increase in Research and development expenses primarily reflects the increased costs associated with our avelumab alliance with Merck KGaA. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | EH––The increase in Cost of sales as a percentage of Revenues was primarily due to the inclusion of legacy Hospira operations, unfavorable foreign exchange and the impact of losses of exclusivity resulting in an unfavorable change in product mix. The increase in Cost of sales was driven by the inclusion of legacy Hospira operations and the unfavorable impact from foreign exchange, partially offset by lower volumes as a result of products losing exclusivity. The increase in Selling, informational and administrative expenses was primarily due to the inclusion of legacy Hospira operations, partially offset by lower advertising, promotional and field force expenses, reflecting the benefits of cost-reduction and productivity initiatives, and favorable foreign exchange. Research and development expenses increased, reflecting the inclusion of legacy Hospira operations and increased investment in legacy Pfizer biosimilar development programs. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | IH––The slight decrease in Cost of sales as a percentage of Revenues was primarily driven by a favorable change in product mix, including an increase in alliance revenues, which have no associated cost of sales, partially offset by unfavorable foreign exchange. The increase in Cost of sales was primarily driven by unfavorable foreign exchange, an increase in sales volumes and an increase in royalty expense. The increase in Selling, informational and administrative expenses reflects an increase in the allowance for doubtful trade accounts receivable, resulting from unfavorable developments with a distributor, and additional investment in Eliquis and Prevnar 13, partially offset by favorable foreign exchange. The decrease in Research and development expenses primarily reflects the non-recurrence of the $295 million upfront payment made to OPKO Health Inc. in the first quarter of 2015, partially offset by increased costs associated with our oncology programs, primarily our avelumab alliance with Merck KGaA and increased investment in certain late-stage pipeline programs, primarily bococizumab and tanezumab. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | EH––The increase in Cost of sales as a percentage of Revenues was primarily due to the inclusion of legacy Hospira operations, unfavorable foreign exchange and the impact of losses of exclusivity resulting in an unfavorable change in product mix. The increase in Cost of sales was driven by the inclusion of legacy Hospira operations and the unfavorable impact from foreign exchange, partially offset by lower volumes as a result of products losing exclusivity. The increase in Selling, informational and administrative expenses was primarily due to the inclusion of legacy Hospira operations, partially offset by favorable foreign exchange and lower advertising, promotional and field force expenses, reflecting the benefits of cost-reduction and productivity initiatives. Research and development expenses increased, reflecting the inclusion of legacy Hospira operations and increased investment in legacy Pfizer biosimilar development programs. The favorable change in Other (income)/deductions––net primarily reflects resolution of a contract disagreement and favorable foreign exchange. |

----

|     |                                                                                                                                                                            |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Other comprises the revenues and costs included in our Adjusted income components(4) that are managed outside of our two operating segmentsand includes the following: |

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 |   | Second-Quarter 2016 |
|                                                                 |   | Other Business Activities |   |   |   |   |   |   |
| (IN MILLIONS)                                                        |   | WRD(a) |   | GPD(b) |   | Medical(c) |   | Corporate(d) |   | Other Unallocated(e) |   | Total |
| Revenues                                                             |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Cost of sales                                                        |   | — |  |   | — |  |   | — |  |   | 51 |  |   | 337 |  |   | 388 |  |
| Selling, informational and administrative expenses                   |   | — |  |   | — |  |   | 34 |  |   | 876 |  |   | 33 |  |   | 943 |  |
| Research and development expenses                                    |   | 527 |  |   | 161 |  |   | — |  |   | 156 |  |   | 6 |  |   | 849 |  |
| Amortization of intangible assets                                    |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Restructuring charges and certain acquisition-related costs          |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Other (income)/deductions––net                           |   | (13 | ) |   | — |  |   | — |  |   | 173 |  |   | (64 | ) |   | 96 |  |
| Loss from continuing operations before provision for taxes on income |   | $ | (514 | ) |   | $ | (161 | ) |   | $ | (34 | ) |   | $ | (1,256 | ) |   | $ | (312 | ) |   | $ | (2,276 | ) |

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 |   | Six Months Ended July 3, 2016 |
|                                                                 |   | Other Business Activities |   |   |   |   |   |   |
| (IN MILLIONS)                                                        |   | WRD(a) |   | GPD(b) |   | Medical(c) |   | Corporate(d) |   | Other Unallocated(e) |   | Total |
| Revenues                                                             |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Cost of sales                                                        |   | — |  |   | — |  |   | — |  |   | 91 |  |   | 514 |  |   | 605 |  |
| Selling, informational and administrative expenses                   |   | — |  |   | — |  |   | 61 |  |   | 1,776 |  |   | 52 |  |   | 1,889 |  |
| Research and development expenses                                    |   | 1,054 |  |   | 315 |  |   | — |  |   | 354 |  |   | 11 |  |   | 1,734 |  |
| Amortization of intangible assets                                    |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Restructuring charges and certain acquisition-related costs          |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Other (income)/deductions––net                           |   | (27 | ) |   | — |  |   | — |  |   | 399 |  |   | (29 | ) |   | 342 |  |
| Loss from continuing operations before provision for taxes on income |   | $ | (1,028 | ) |   | $ | (315 | ) |   | $ | (61 | ) |   | $ | (2,619 | ) |   | $ | (548 | ) |   | $ | (4,570 | ) |

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 |   | Second-Quarter 2015 |
|                                                                 |   | Other Business Activities |   |   |   |   |   |   |
| (IN MILLIONS)                                                        |   | WRD(a) |   | GPD(b) |   | Medical(c) |   | Corporate(d) |   | Other Unallocated(e) |   | Total |
| Revenues                                                             |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Cost of sales                                                        |   | — |  |   | — |  |   | — |  |   | 25 |  |   | 118 |  |   | 144 |  |
| Selling, informational and administrative expenses                   |   | — |  |   | — |  |   | 28 |  |   | 871 |  |   | 14 |  |   | 913 |  |
| Research and development expenses                                    |   | 544 |  |   | 150 |  |   | 7 |  |   | 231 |  |   | 9 |  |   | 941 |  |
| Amortization of intangible assets                                    |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Restructuring charges and certain acquisition-related costs          |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Other (income)/deductions––net                           |   | (15 | ) |   | — |  |   | — |  |   | 159 |  |   | 19 |  |   | 164 |  |
| Loss from continuing operations before provision for taxes on income |   | $ | (530 | ) |   | $ | (150 | ) |   | $ | (35 | ) |   | $ | (1,286 | ) |   | $ | (160 | ) |   | $ | (2,161 | ) |

----

|                                                                      |
|----------------------------------------------------------------------|
|                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                 |   | Six Months Ended June 28, 2015 |
|                                                                 |   | Other Business Activities |   |   |   |   |   |   |
| (IN MILLIONS)                                                        |   | WRD(a) |   | GPD(b) |   | Medical(c) |   | Corporate(d) |   | Other Unallocated(e) |   | Total |
| Revenues                                                             |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |   | $ | — |  |
| Cost of sales                                                        |   | — |  |   | — |  |   | — |  |   | 48 |  |   | 134 |  |   | 182 |  |
| Selling, informational and administrative expenses                   |   | — |  |   | — |  |   | 54 |  |   | 1,807 |  |   | 23 |  |   | 1,884 |  |
| Research and development expenses                                    |   | 1,085 |  |   | 304 |  |   | 13 |  |   | 460 |  |   | 13 |  |   | 1,875 |  |
| Amortization of intangible assets                                    |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Restructuring charges and certain acquisition-related costs          |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |   | — |  |
| Other (income)/deductions––net                           |   | (44 | ) |   | — |  |   | — |  |   | 257 |  |   | 36 |  |   | 249 |  |
| Loss from continuing operations before provision for taxes on income |   | $ | (1,042 | ) |   | $ | (304 | ) |   | $ | (66 | ) |   | $ | (2,573 | ) |   | $ | (205 | ) |   | $ | (4,190 | ) |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (a) | WRD––the research and development expenses managed by our WRD organization, which is generally responsible for research projects for our Innovative Health business until proof-of-concept is achieved and then for transitioning those projects to the IH segment via the newly formed GPD organization for possible clinical and commercial development. R&D spending may include upfront and milestone payments for intellectual property rights. The WRD organization also has responsibility for certain science-based and other platform-services organizations, which provide technical expertise and other services to the various R&D projects, including EH R&D projects. WRD is also responsible for facilitating all regulatory submissions and interactions with regulatory agencies, including all safety-event activities. As noted above, in connection with the formation of the new EH R&D organization, certain functions transferred from WRD to the new EH R&D organization. We have reclassified approximately $67 million of costs in the second quarter of 2015 and $134 million in the first six months of 2015 from WRD to EH to conform to the current period presentation as part of EH. Also, in connection with the formation of the new GPD organization, beginning in the second quarter of 2016, certain development-related functions transferred from WRD to GPD. See note (b) below for additional information. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | GPD––the costs associated with our newly formed GPD organization, which is generally responsible for the clinical development of assets that have achieved proof-of-concept across our innovative portfolio. GPD also provides technical support and other services to Pfizer R&D projects. In connection with the formation of the GPD organization, certain development-related functions transferred from WRD and IH to GPD. We have reclassified costs of approximately $78 million from WRD and $76 million from IH in the first quarter of 2016, approximately $77 million from WRD and $73 million from IH in the second quarter of 2015 and approximately $157 million from WRD and $147 million from IH in the first six months of 2015 to GPD to conform to the current period presentation as part of GPD. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (c) | Medical––the costs associated with our Pfizer Medical organization (Medical), which is responsible for the provision of medical information to healthcare providers, patients and other parties, transparency and disclosure activities, clinical trial results publication, grants for healthcare quality improvement and medical education, and partnerships with global public health and medical associations. |

|     |                                                                                                                                                                                                                                                                                                                                                                                          |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (d) | Corporate––the costs associated with Corporate, representing platform functions (such as worldwide technology, global real estate operations, legal, finance, human resources, worldwide public affairs, compliance and worldwide procurement) and certain compensation and other corporate costs, such as interest income and expense, and gains and losses on investments. |

|     |                                                                                                                                                                                                       |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (e) | Other Unallocated––other unallocated costs, representing overhead expenses associated with our manufacturing and commercial operations not directly attributable to an operating segment. |

----

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |
| Six Months Ended July 3, 2016                                              |
| (PERCENTAGES)                                                              |   | IH |   | EH |
| Total WRD/GPD/Medical costs                                                |   | 96% - 98% |   | 2% - 4% |
| Total Corporate/Other Unallocated costs                                    |   | 49% - 51% |   | 49% - 51% |
| Total WRD/GPD/Medical and Corporate/Other Unallocated costs                |   | 65% - 67% |   | 33% - 35% |
| Total WRD/GPD/Medical and Corporate/Other Unallocated costs, by line item: |   |   |   |   |
| Cost of sales                                                              |   | 24% - 26% |   | 74% - 76% |
| Selling, informational and administrative expenses                         |   | 50% - 52% |   | 48% - 50% |
| Research and development expenses                                          |   | 95% - 97% |   | 3% - 5% |
| Other (income)/deductions––net                                 |   | * |   | * |

|   |                                                                                                                                                                                                                                                                                                        |
|---|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| * | Amounts not material. After excluding net interest expense included in Corporate and net income on investments not attributable to an operating segment and included in Corporate, Other (income)/deductions––net approximates $24 million of income for the first six months of 2016. |

|         |                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | WRD/GPD/Medical––The information provided in the table above for WRD, GPD and Medical was substantially all derived from our estimates of the costs incurred in connection with the R&D projects associated with each operating segment. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Corporate/Other Unallocated––The information provided in the table above for Corporate and Other Unallocated was derived mainly using proportional allocation methods based on global, regional or country revenues or global, regional or country headcount, as well as certain cost metrics, as appropriate, such as those derived from research and development and manufacturing costs, and, to a lesser extent, specific identification. Management believes that the allocations of Corporate and Other Unallocated costs are reasonable. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | These “Adjusted Income” components are defined as the corresponding reported U.S. GAAP components, excluding purchase accounting adjustments, acquisition-related costs and certain significant items (some of which may recur, such as restructuring or legal charges, but which management does not believe are reflective of our ongoing core operations). Adjusted Cost of Sales, Adjusted Selling, Informational and Administrative (SI&A) expenses, Adjusted Research and Development (R&D) expenses, Adjusted Amortization of Intangible Assets and Adjusted Other (Income)/Deductions––Net are income statement line items prepared on the same basis as, and therefore components of, the overall adjusted income measure. As described in the “Management's Discussion and Analysis of Financial Condition and Results of Operations––Non-GAAP Financial Measure (Adjusted Income)” section of Pfizer's Quarterly Report on Form 10-Q for the fiscal quarter ended April 3, 2016, management uses Adjusted income, among other factors, to set performance goals and to measure the performance of the overall company. Because Adjusted income is an important internal measurement for Pfizer, we believe that investors’ understanding of our performance is enhanced by disclosing this performance measure. We report Adjusted income and certain components of Adjusted income in order to portray the results of our major operations––the discovery, development, manufacture, marketing and sale of prescription medicines, vaccines, medical devices and consumer healthcare (OTC) products––prior to considering certain income statement elements. See the accompanying reconciliations of certain GAAP reported to non-GAAP adjusted information for the second quarter and first six months of 2016 and 2015. The Adjusted income component measures are not, and should not be viewed as, substitutes for the U.S. GAAP component measures. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (5) | Includes costs associated with (i) purchase accounting adjustments; (ii) acquisition-related costs; and (iii) certain significant items, which are substantive and in some cases recurring (such as restructuring or legal charges), or unusual items that are evaluated on an individual basis by management. For additional information about these reconciling items and/or our non-GAAP adjusted measure of performance, see the accompanying reconciliations of certain GAAP reported to non-GAAP adjusted information for the second quarter and first six months of 2016 and 2015.  |

----

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        |   | WORLDWIDE | UNITED STATES | TOTAL INTERNATIONAL(a) |
|                                        |   | 2016 | 2015 | % Change | 2016 | 2015 | % Change | 2016 | 2015 | % Change |
| (MILLIONS OF DOLLARS)                       |   | Total | Oper. | Total | Total | Oper. |
| TOTAL REVENUES                              |   | $ | 13,147 |  | $ | 11,853 |  | 11% | 13% | $ | 6,335 |  | $ | 4,994 |  | 27% | $ | 6,812 |  | $ | 6,859 |  | (1%) | 4% |
| PFIZER INNOVATIVE HEALTH (IH)(b)            |   | $ | 7,105 |  | $ | 6,630 |  | 7% | 9% | $ | 3,950 |  | $ | 3,459 |  | 14% | $ | 3,156 |  | $ | 3,170 |  | — | 3% |
| Internal Medicine                           |   | $ | 2,190 |  | $ | 1,895 |  | 16% | 16% | $ | 1,577 |  | $ | 1,430 |  | 10% | $ | 613 |  | $ | 465 |  | 32% | 33% |
| Lyrica IH(c)                                |   | 1,048 |  | 907 |  | 15% | 16% | 788 |  | 651 |  | 21% | 260 |  | 257 |  | 1% | 3% |
| Viagra IH(d)                                |   | 300 |  | 334 |  | (10%) | (10%) | 292 |  | 326 |  | (10%) | 8 |  | 8 |  | (5%) | — |
| Chantix/Champix                             |   | 213 |  | 173 |  | 23% | 24% | 148 |  | 106 |  | 40% | 65 |  | 68 |  | (4%) | (1%) |
| Toviaz                                      |   | 67 |  | 71 |  | (5%) | (6%) | 24 |  | 33 |  | (27%) | 43 |  | 38 |  | 15% | 12% |
| BMP2                                        |   | 61 |  | 75 |  | (19%) | (19%) | 61 |  | 75 |  | (19%) | — |  | — |  | — | — |
| Alliance revenues(e)                        |   | 371 |  | 291 |  | 28% | 25% | 221 |  | 206 |  | 7% | 150 |  | 84 |  | 78% | 70% |
| All other Internal Medicine                 |   | 130 |  | 44 |  | * | * | 43 |  | 34 |  | 26% | 87 |  | 10 |  | * | * |
| Vaccines                                    |   | $ | 1,365 |  | $ | 1,580 |  | (14%) | (13%) | $ | 792 |  | $ | 882 |  | (10)% | $ | 573 |  | $ | 698 |  | (18%) | (16%) |
| Prevnar/Prevenar 13                         |   | 1,258 |  | 1,503 |  | (16%) | (15%) | 768 |  | 880 |  | (13%) | 490 |  | 622 |  | (21%) | (19%) |
| FSME/IMMUN-TicoVac                          |   | 42 |  | 56 |  | (24)% | (26)% | — |  | — |  | — | 42 |  | 56 |  | (24%) | (26%) |
| All other Vaccines                          |   | 65 |  | 21 |  | * | * | 24 |  | 2 |  | * | 41 |  | 20 |  | * | * |
| Oncology                                    |   | $ | 1,101 |  | $ | 713 |  | 54% | 56% | $ | 755 |  | $ | 388 |  | 94% | $ | 345 |  | 325 |  | 6% | 9% |
| Ibrance                                     |   | 514 |  | 140 |  | * | * | 502 |  | 140 |  | * | 12 |  | — |  | * | * |
| Sutent                                      |   | 285 |  | 294 |  | (3%) | — | 107 |  | 98 |  | 9% | 178 |  | 195 |  | (9%) | (5%) |
| Xalkori                                     |   | 137 |  | 119 |  | 15% | 15% | 62 |  | 60 |  | 3% | 75 |  | 58 |  | 28% | 28% |
| Inlyta                                      |   | 108 |  | 111 |  | (2%) | (3%) | 45 |  | 54 |  | (17%) | 63 |  | 57 |  | 11% | 11% |
| All other Oncology                          |   | 57 |  | 49 |  | 16% | 15% | 39 |  | 35 |  | 9% | 18 |  | 14 |  | 32% | 29% |
| Inflammation & Immunology (I&I)     |   | $ | 999 |  | $ | 966 |  | 3% | 7% | $ | 189 |  | $ | 116 |  | 63% | $ | 810 |  | $ | 850 |  | (5%) | (1%) |
| Enbrel (Outside the U.S. and Canada)        |   | 766 |  | 822 |  | (7%) | (3%) | — |  | — |  | — | 766 |  | 822 |  | (7%) | (3%) |
| Xeljanz                                     |   | 217 |  | 128 |  | 70% | 72% | 189 |  | 116 |  | 63% | 28 |  | 12 |  | * | * |
| All other I&I                           |   | 16 |  | 16 |  | 1% | (7%) | — |  | — |  | — | 16 |  | 16 |  | 1% | (7%) |
| Rare Disease                                |   | $ | 614 |  | $ | 636 |  | (3%) | (2%) | $ | 196 |  | $ | 220 |  | (11%) | $ | 418 |  | $ | 416 |  | 1% | 3% |
| BeneFIX                                     |   | 183 |  | 193 |  | (5%) | (5%) | 79 |  | 87 |  | (9%) | 104 |  | 106 |  | (2%) | (1%) |
| Genotropin                                  |   | 152 |  | 167 |  | (9%) | (6%) | 37 |  | 50 |  | (25%) | 115 |  | 117 |  | (2%) | 2% |
| Refacto AF/Xyntha                           |   | 139 |  | 142 |  | (2%) | (1%) | 32 |  | 35 |  | (8%) | 107 |  | 106 |  | — | 2% |
| Somavert                                    |   | 59 |  | 55 |  | 8% | 8% | 20 |  | 17 |  | 18% | 39 |  | 38 |  | 3% | 3% |
| Rapamune                                    |   | 47 |  | 53 |  | (11%) | (4%) | 21 |  | 27 |  | (21%) | 26 |  | 26 |  | (1%) | 14% |
| All other Rare Disease                      |   | 33 |  | 26 |  | 27% | 23% | 6 |  | 4 |  | 42% | 28 |  | 22 |  | 24% | 20% |
| Consumer Healthcare                         |   | $ | 837 |  | $ | 840 |  | — | 5% | $ | 441 |  | $ | 423 |  | 4% | $ | 395 |  | $ | 417 |  | (5%) | 6% |
| PFIZER ESSENTIAL HEALTH (EH)(f)             |   | $ | 6,042 |  | $ | 5,223 |  | 16% | 19% | $ | 2,385 |  | $ | 1,535 |  | 55% | $ | 3,656 |  | $ | 3,688 |  | (1%) | 4% |
| Legacy Established Products (LEP)(g)        |   | $ | 2,864 |  | $ | 2,934 |  | (2%) | 2% | $ | 971 |  | $ | 880 |  | 10% | $ | 1,894 |  | $ | 2,054 |  | (8%) | (1%) |
| Lipitor                                     |   | 461 |  | 509 |  | (9%) | (2%) | 44 |  | 40 |  | 11% | 417 |  | 469 |  | (11%) | (3%) |
| Premarin family                             |   | 251 |  | 259 |  | (3%) | (2%) | 236 |  | 242 |  | (2%) | 15 |  | 17 |  | (14%) | (4%) |
| Norvasc                                     |   | 240 |  | 251 |  | (4%) | (2%) | 10 |  | 9 |  | 11% | 230 |  | 242 |  | (5%) | (2%) |
| EpiPen                                      |   | 93 |  | 85 |  | 9% | 10% | 79 |  | 70 |  | 13% | 14 |  | 15 |  | (7%) | (5%) |
| Xalatan/Xalacom                             |   | 94 |  | 99 |  | (5%) | (4%) | 6 |  | 5 |  | 25% | 88 |  | 94 |  | (7%) | (6%) |
| Relpax                                      |   | 87 |  | 82 |  | 6% | 5% | 63 |  | 57 |  | 10% | 24 |  | 25 |  | (4%) | (6%) |
| Zoloft                                      |   | 77 |  | 93 |  | (17%) | (14%) | 16 |  | 17 |  | (7%) | 61 |  | 76 |  | (19%) | (15%) |
| Zithromax/Zmax(h)                           |   | 67 |  | 61 |  | 10% | 12% | 1 |  | (2 | ) | * | 66 |  | 63 |  | 5% | 7% |
| Effexor                                     |   | 67 |  | 74 |  | (9%) | (5%) | 20 |  | 27 |  | (25%) | 47 |  | 47 |  | 1% | 6% |
| Tikosyn                                     |   | 55 |  | 42 |  | 32% | 32% | 55 |  | 42 |  | 32% | — |  | — |  | — | — |
| Xanax/Xanax XR                              |   | 55 |  | 54 |  | 2% | 3% | 12 |  | 11 |  | 10% | 44 |  | 44 |  | — | 1% |
| Cardura                                     |   | 48 |  | 55 |  | (11%) | (10%) | 1 |  | 1 |  | 60% | 47 |  | 54 |  | (13%) | (11%) |
| Neurontin                                   |   | 47 |  | 48 |  | (2%) | 5% | 12 |  | 12 |  | 6% | 35 |  | 36 |  | (5%) | 5% |
| Depo-Provera                                |   | 34 |  | 51 |  | (33%) | (31%) | 13 |  | 17 |  | (24%) | 21 |  | 34 |  | (38%) | (34%) |
| All other LEP                               |   | 1,187 |  | 1,172 |  | 1% | 8% | 402 |  | 333 |  | 21% | 785 |  | 839 |  | (6%) | 2% |
| Sterile Injectable Pharmaceuticals (SIP)(i) |   | $ | 1,497 |  | $ | 751 |  | 99% | * | $ | 837 |  | $ | 282 |  | * | $ | 660 |  | $ | 469 |  | 41% | 47% |
| Medrol(h)                                   |   | 115 |  | 99 |  | 16% | 21% | 71 |  | 54 |  | 31% | 44 |  | 45 |  | (3%) | 8% |
| Sulperazon                                  |   | 105 |  | 80 |  | 31% | 37% | — |  | — |  | — | 105 |  | 80 |  | 31% | 37% |
| Fragmin                                     |   | 82 |  | 88 |  | (7%) | (4%) | 8 |  | 8 |  | — | 74 |  | 80 |  | (8%) | (5%) |
| Tygacil                                     |   | 59 |  | 77 |  | (23%) | (17%) | 11 |  | 28 |  | (61%) | 48 |  | 49 |  | (2%) | 7% |
| All other SIP                               |   | 1,136 |  | 407 |  | * | * | 747 |  | 192 |  | * | 389 |  | 215 |  | 81% | 87% |
| Peri-LOE Products(j)                        |   | $ | 1,111 |  | $ | 1,406 |  | (21%) | (19%) | $ | 251 |  | $ | 316 |  | (20%) | $ | 860 |  | $ | 1,090 |  | (21%) | (19%) |
| Lyrica EH(c)                                |   | 214 |  | 312 |  | (31%) | (31%) | — |  | — |  | — | 214 |  | 312 |  | (31%) | (31%) |
| Pristiq                                     |   | 194 |  | 177 |  | 10% | 11% | 157 |  | 137 |  | 14% | 37 |  | 40 |  | (6%) | 1% |
| Celebrex                                    |   | 183 |  | 224 |  | (18%) | (16%) | 30 |  | 58 |  | (48%) | 153 |  | 166 |  | (8%) | (5%) |
| Vfend                                       |   | 162 |  | 162 |  | — | 2% | 12 |  | 7 |  | 69% | 151 |  | 156 |  | (3%) | (1%) |
| Zyvox                                       |   | 114 |  | 259 |  | (56%) | (54%) | 19 |  | 87 |  | (79%) | 95 |  | 172 |  | (45%) | (41%) |
| Viagra EH(d)                                |   | 101 |  | 113 |  | (11%) | (6%) | — |  | — |  | — | 101 |  | 113 |  | (11%) | (6%) |
| Revatio                                     |   | 74 |  | 65 |  | 14% | 13% | 25 |  | 19 |  | 30% | 49 |  | 46 |  | 7% | 6% |
| All other Peri-LOE Products                 |   | 69 |  | 94 |  | (26%) | (24%) | 9 |  | 7 |  | 21% | 61 |  | 86 |  | (30%) | (28%) |
| Infusion Systems(k)                         |   | $ | 295 |  | $ | — |  | * | * | $ | 230 |  | $ | — |  | * | $ | 65 |  | $ | — |  | * | * |
| Biosimilars(l)                              |   | $ | 78 |  | $ | — |  | * | * | $ | — |  | $ | — |  | — | $ | 78 |  | $ | — |  | * | * |
| Pfizer CentreOne(m)                         |   | $ | 196 |  | $ | 133 |  | 47% | 48% | $ | 96 |  | $ | 58 |  | 66% | $ | 100 |  | $ | 75 |  | 33% | 31% |
| Total Lyrica(c)                             |   | $ | 1,261 |  | $ | 1,219 |  | 3% | 4% | $ | 788 |  | $ | 651 |  | 21% | $ | 473 |  | $ | 568 |  | (17%) | (16%) |
| Total Viagra(d)                             |   | $ | 401 |  | $ | 448 |  | (11%) | (9%) | $ | 292 |  | $ | 326 |  | (10%) | $ | 109 |  | $ | 122 |  | (11%) | (5%) |
| Total Alliance revenues                     |   | $ | 376 |  | $ | 311 |  | 21% | 19% | $ | 223 |  | $ | 212 |  | 5% | $ | 154 |  | $ | 99 |  | 56% | 49% |

----

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        |   | DEVELOPED EUROPE(n) | DEVELOPED REST OF WORLD(o) | EMERGING MARKETS(p) |
|                                        |   | 2016 | 2015 | % Change | 2016 | 2015 | % Change | 2016 | 2015 | % Change |
| (MILLIONS OF DOLLARS)                       |   | Total | Oper. | Total | Oper. | Total | Oper. |
| TOTAL INTERNATIONAL REVENUES                |   | $ | 2,440 |  | $ | 2,380 |  | 3% | 1% | $ | 1,718 |  | $ | 1,558 |  | 10% | 7% | $ | 2,655 |  | $ | 2,921 |  | (9%) | 4% |
| PFIZER INNOVATIVE HEALTH (IH)(b)            |   | $ | 1,371 |  | $ | 1,303 |  | 5% | 4% | $ | 853 |  | $ | 750 |  | 14% | 10% | $ | 932 |  | $ | 1,117 |  | (17%) | (2%) |
| Internal Medicine                           |   | $ | 129 |  | $ | 42 |  | * | * | $ | 359 |  | $ | 295 |  | 22% | 16% | $ | 125 |  | $ | 128 |  | (2%) | 14% |
| Lyrica IH(c)                                |   | — |  | — |  | — | — | 204 |  | 179 |  | 14% | 8% | 56 |  | 78 |  | (28%) | (9%) |
| Viagra IH(d)                                |   | — |  | — |  | — | — | 8 |  | 8 |  | (5%) | — | — |  | — |  | — | — |
| Chantix/Champix                             |   | 20 |  | 20 |  | — | — | 37 |  | 32 |  | 13% | 14% | 8 |  | 15 |  | (45%) | (33%) |
| Toviaz                                      |   | 18 |  | 17 |  | 3% | 2% | 22 |  | 17 |  | 27% | 21% | 3 |  | 3 |  | 11% | 17% |
| BMP2                                        |   | — |  | — |  | — | — | — |  | — |  | — | — | — |  | — |  | — | — |
| Alliance revenues(q)                        |   | 90 |  | 47 |  | 91% | 87% | 61 |  | 36 |  | 72% | 64% | (1 | ) | 1 |  | * | * |
| All other Internal Medicine                 |   | 1 |  | (43 | ) | * | * | 27 |  | 23 |  | 19% | 13% | 59 |  | 31 |  | 91% | * |
| Vaccines                                    |   | $ | 210 |  | $ | 222 |  | (5%) | (7%) | $ | 108 |  | $ | 105 |  | 4% | 2% | $ | 254 |  | $ | 371 |  | (31%) | (26%) |
| Prevnar/Prevenar 13                         |   | 145 |  | 159 |  | (9%) | (11%) | 107 |  | 104 |  | 3% | 1% | 238 |  | 358 |  | (34%) | (29%) |
| FSME/IMMUN-TicoVac                          |   | 32 |  | 44 |  | (26%) | (28%) | — |  | — |  | — | — | 10 |  | 12 |  | (18%) | (20%) |
| All other Vaccines                          |   | 33 |  | 19 |  | 72% | 71% | 1 |  | — |  | * | * | 7 |  | 1 |  | * | * |
| Oncology                                    |   | $ | 156 |  | $ | 157 |  | (1%) | (2%) | $ | 80 |  | $ | 65 |  | 23% | 18% | $ | 109 |  | $ | 102 |  | 7% | 21% |
| Ibrance                                     |   | 3 |  | — |  | * | * | — |  | — |  | — | — | 9 |  | — |  | * | * |
| Sutent                                      |   | 83 |  | 93 |  | (11%) | (12%) | 31 |  | 30 |  | 6% | 3% | 64 |  | 73 |  | (12%) | 1% |
| Xalkori                                     |   | 36 |  | 29 |  | 22% | 20% | 15 |  | 10 |  | 55% | 52% | 24 |  | 19 |  | 21% | 29% |
| Inlyta                                      |   | 27 |  | 28 |  | (4%) | (5%) | 26 |  | 21 |  | 21% | 12% | 10 |  | 7 |  | 40% | 65% |
| All other Oncology                          |   | 8 |  | 7 |  | 8% | 5% | 8 |  | 5 |  | 72% | 61% | 3 |  | 2 |  | 25% | 42% |
| Inflammation & Immunology (I&I)     |   | $ | 509 |  | $ | 526 |  | (3%) | (4%) | $ | 135 |  | $ | 127 |  | 6% | 2% | $ | 166 |  | $ | 198 |  | (16%) | 6% |
| Enbrel (Outside Canada)                     |   | 504 |  | 523 |  | (4%) | (5%) | 105 |  | 106 |  | (1%) | (5%) | 157 |  | 193 |  | (19%) | 2% |
| Xeljanz                                     |   | 5 |  | 3 |  | 95% | 99% | 13 |  | 4 |  | * | * | 9 |  | 5 |  | 96% | * |
| All other I&I                           |   | — |  | — |  | — | — | 16 |  | 16 |  | — | (7%) | — |  | — |  | — | — |
| Rare Disease                                |   | $ | 248 |  | $ | 249 |  | — | (1%) | $ | 103 |  | $ | 96 |  | 8% | 5% | $ | 67 |  | $ | 71 |  | (6%) | 15% |
| BeneFIX                                     |   | 64 |  | 64 |  | 1% | 1% | 30 |  | 31 |  | (4%) | (4%) | 9 |  | 11 |  | (16%) | (6%) |
| Genotropin                                  |   | 47 |  | 51 |  | (8%) | (9%) | 44 |  | 39 |  | 11% | 5% | 24 |  | 26 |  | (11%) | 18% |
| Refacto AF/Xyntha                           |   | 80 |  | 80 |  | — | — | 12 |  | 11 |  | 8% | 14% | 14 |  | 15 |  | (5%) | 4% |
| Somavert                                    |   | 31 |  | 30 |  | 3% | — | 4 |  | 4 |  | 20% | 18% | 3 |  | 4 |  | (8%) | 10% |
| Rapamune                                    |   | 10 |  | 10 |  | (1%) | (2%) | 3 |  | 4 |  | (7%) | (3%) | 12 |  | 12 |  | 1% | 32% |
| All other Rare Disease                      |   | 15 |  | 13 |  | 10% | 7% | 9 |  | 7 |  | 41% | 31% | 4 |  | 2 |  | 51% | 57% |
| Consumer Healthcare                         |   | $ | 118 |  | $ | 107 |  | 10% | 8% | $ | 67 |  | $ | 63 |  | 7% | 13% | $ | 210 |  | $ | 247 |  | (15%) | 4% |
| PFIZER ESSENTIAL HEALTH (EH)(f)             |   | $ | 1,069 |  | $ | 1,077 |  | (1%) | (2%) | $ | 865 |  | $ | 808 |  | 7% | 4% | $ | 1,722 |  | $ | 1,803 |  | (5%) | 8% |
| Legacy Established Products (LEP)(g)        |   | $ | 393 |  | $ | 380 |  | 4% | 2% | $ | 515 |  | $ | 533 |  | (3%) | (7%) | $ | 985 |  | $ | 1,142 |  | (14%) | — |
| Lipitor                                     |   | 47 |  | 54 |  | (13%) | (14%) | 61 |  | 65 |  | (7%) | (6%) | 309 |  | 350 |  | (12%) | (1%) |
| Premarin family                             |   | 1 |  | 2 |  | (27%) | (24%) | 7 |  | 7 |  | — | 3% | 7 |  | 9 |  | (22%) | (5%) |
| Norvasc                                     |   | 18 |  | 18 |  | (3%) | (5%) | 65 |  | 69 |  | (6%) | (10%) | 147 |  | 154 |  | (5%) | 1% |
| EpiPen                                      |   | — |  | — |  | — | — | 14 |  | 15 |  | (7%) | (5%) | — |  | — |  | — | — |
| Xalatan/Xalacom                             |   | 19 |  | 23 |  | (18%) | (19%) | 41 |  | 41 |  | 1% | (5%) | 28 |  | 30 |  | (8%) | 3% |
| Relpax                                      |   | 9 |  | 12 |  | (28%) | (30%) | 11 |  | 10 |  | 16% | 9% | 4 |  | 3 |  | 28% | 37% |
| Zoloft                                      |   | 9 |  | 8 |  | 9% | 8% | 24 |  | 40 |  | (40%) | (44%) | 28 |  | 28 |  | 2% | 19% |
| Zithromax/Zmax(h)                           |   | 11 |  | 9 |  | 19% | 16% | 14 |  | 14 |  | (3%) | (10%) | 42 |  | 40 |  | 5% | 11% |
| Effexor                                     |   | 16 |  | 16 |  | 3% | 1% | 12 |  | 8 |  | 40% | 40% | 19 |  | 22 |  | (15%) | (3%) |
| Tikosyn                                     |   | — |  | — |  | — | — | — |  | — |  | — | — | — |  | — |  | — | — |
| Xanax/Xanax XR                              |   | 21 |  | 20 |  | 7% | 4% | 5 |  | 6 |  | (7%) | (12%) | 17 |  | 18 |  | (6%) | 3% |
| Cardura                                     |   | 13 |  | 16 |  | (20%) | (22%) | 13 |  | 14 |  | (6%) | (12%) | 21 |  | 23 |  | (11%) | (3%) |
| Neurontin                                   |   | 12 |  | 11 |  | 3% | 4% | 8 |  | 8 |  | — | 1% | 15 |  | 17 |  | (12%) | 7% |
| Depo-Provera                                |   | 5 |  | 6 |  | (13%) | (11%) | 3 |  | 3 |  | 1% | 6% | 13 |  | 25 |  | (48%) | (44%) |
| All other LEP                               |   | 212 |  | 184 |  | 16% | 14% | 237 |  | 233 |  | 2% | (3%) | 336 |  | 422 |  | (20%) | — |
| Sterile Injectable Pharmaceuticals (SIP)(i) |   | $ | 174 |  | $ | 133 |  | 31% | 30% | $ | 135 |  | $ | 73 |  | 84% | 83% | $ | 351 |  | $ | 263 |  | 34% | 46% |
| Medrol(h)                                   |   | 14 |  | 15 |  | (5%) | (5%) | 6 |  | 6 |  | (1%) | (2%) | 23 |  | 24 |  | (2%) | 18% |
| Sulperazon                                  |   | — |  | — |  | — | — | 4 |  | 4 |  | (10%) | (17%) | 102 |  | 76 |  | 33% | 40% |
| Fragmin                                     |   | 42 |  | 46 |  | (7%) | (6%) | 18 |  | 21 |  | (13%) | (9%) | 14 |  | 14 |  | — | 5% |
| Tygacil                                     |   | 18 |  | 13 |  | 35% | 33% | 2 |  | 2 |  | (1%) | 5% | 28 |  | 34 |  | (16%) | (2%) |
| All other SIP                               |   | 100 |  | 59 |  | 69% | 67% | 106 |  | 41 |  | * | * | 183 |  | 115 |  | 60% | 74% |
| Peri-LOE Products(j)                        |   | $ | 356 |  | $ | 517 |  | (31%) | (32%) | $ | 178 |  | $ | 193 |  | (8%) | (12%) | $ | 326 |  | $ | 380 |  | (14%) | (5%) |
| Lyrica EH(c)                                |   | 186 |  | 274 |  | (32%) | (32%) | — |  | — |  | — | — | 27 |  | 37 |  | (27%) | (21%) |
| Pristiq                                     |   | 5 |  | 4 |  | 26% | 23% | 18 |  | 22 |  | (20%) | (16%) | 14 |  | 13 |  | 5% | 22% |
| Celebrex                                    |   | 8 |  | 11 |  | (26%) | (27%) | 69 |  | 73 |  | (5%) | (10%) | 76 |  | 82 |  | (8%) | 2% |
| Vfend                                       |   | 62 |  | 67 |  | (6%) | (8%) | 33 |  | 30 |  | 11% | 5% | 56 |  | 59 |  | (6%) | 3% |
| Zyvox                                       |   | 28 |  | 80 |  | (65%) | (66%) | 21 |  | 24 |  | (15%) | (20%) | 47 |  | 68 |  | (31%) | (20%) |
| Viagra EH(d)                                |   | 12 |  | 13 |  | (13%) | (13%) | 9 |  | 10 |  | (11%) | (12%) | 80 |  | 90 |  | (11%) | (4%) |
| Revatio                                     |   | 32 |  | 29 |  | 7% | 6% | 9 |  | 9 |  | — | (7%) | 8 |  | 7 |  | 18% | 27% |
| All other Peri-LOE Products                 |   | 22 |  | 38 |  | (42%) | (43%) | 20 |  | 25 |  | (22%) | (26%) | 19 |  | 23 |  | (19%) | (4%) |
| Infusion Systems(k)                         |   | $ | 14 |  | $ | — |  | * | * | $ | 23 |  | $ | — |  | * | * | $ | 27 |  | $ | — |  | * | * |
| Biosimilars(l)                              |   | $ | 70 |  | $ | — |  | * | * | $ | 1 |  | $ | — |  | * | * | $ | 7 |  | $ | — |  | * | * |
| Pfizer CentreOne(m)                         |   | $ | 62 |  | $ | 47 |  | 33% | 30% | $ | 12 |  | $ | 9 |  | 33% | 30% | $ | 26 |  | $ | 19 |  | 33% | 32% |
| Total Lyrica(c)                             |   | $ | 186 |  | $ | 274 |  | (32%) | (32%) | $ | 204 |  | $ | 179 |  | 14% | 8% | $ | 83 |  | $ | 115 |  | (28%) | (13%) |
| Total Viagra(d)                             |   | $ | 12 |  | $ | 13 |  | (13%) | (13%) | $ | 17 |  | $ | 18 |  | (8%) | (6%) | $ | 80 |  | $ | 90 |  | (11%) | (4%) |
| Total Alliance revenues                     |   | $ | 93 |  | $ | 57 |  | 62% | 58% | $ | 62 |  | $ | 37 |  | 65% | 57% | $ | (1 | ) | $ | 4 |  | * | * |

----

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        |   | WORLDWIDE | UNITED STATES | TOTAL INTERNATIONAL(a) |
|                                        |   | 2016 | 2015 | % Change | 2016 | 2015 | % Change | 2016 | 2015 | % Change |
| (MILLIONS OF DOLLARS)                       |   | Total | Oper. | Total | Total | Oper. |
| TOTAL REVENUES                              |   | $ | 26,152 |  | $ | 22,717 |  | 15% | 20% | $ | 12,960 |  | $ | 9,428 |  | 37% | $ | 13,192 |  | $ | 13,289 |  | (1%) | 7% |
| PFIZER INNOVATIVE HEALTH (IH)(b)            |   | $ | 14,139 |  | $ | 12,368 |  | 14% | 18% | $ | 8,064 |  | $ | 6,431 |  | 25% | $ | 6,075 |  | $ | 5,937 |  | 2% | 10% |
| Internal Medicine                           |   | $ | 4,314 |  | $ | 3,546 |  | 22% | 23% | $ | 3,153 |  | $ | 2,666 |  | 18% | $ | 1,161 |  | $ | 880 |  | 32% | 38% |
| Lyrica IH(c)                                |   | 2,059 |  | 1,753 |  | 17% | 19% | 1,570 |  | 1,272 |  | 23% | 488 |  | 482 |  | 1% | 8% |
| Viagra IH(d)                                |   | 600 |  | 622 |  | (4%) | (3%) | 584 |  | 605 |  | (3%) | 16 |  | 17 |  | (9%) | 1% |
| Chantix/Champix                             |   | 434 |  | 332 |  | 31% | 33% | 307 |  | 203 |  | 51% | 126 |  | 129 |  | (2%) | 5% |
| Toviaz                                      |   | 131 |  | 134 |  | (2%) | (1%) | 50 |  | 62 |  | (20%) | 81 |  | 72 |  | 13% | 14% |
| BMP2                                        |   | 112 |  | 113 |  | (1%) | (1%) | 112 |  | 113 |  | (1%) | — |  | — |  | — | — |
| Alliance revenues(e)                        |   | 722 |  | 498 |  | 45% | 45% | 449 |  | 347 |  | 30% | 273 |  | 152 |  | 80% | 82% |
| All other Internal Medicine                 |   | 257 |  | 94 |  | * | * | 80 |  | 65 |  | 24% | 177 |  | 29 |  | * | * |
| Vaccines                                    |   | $ | 2,935 |  | $ | 2,908 |  | 1% | 3% | $ | 1,833 |  | $ | 1,730 |  | 6% | $ | 1,102 |  | $ | 1,178 |  | (6%) | (2%) |
| Prevnar/Prevenar 13                         |   | 2,766 |  | 2,808 |  | (1%) | — | 1,799 |  | 1,727 |  | 4% | 967 |  | 1,081 |  | (11%) | (5%) |
| FSME/IMMUN-TicoVac                          |   | 69 |  | 65 |  | 6% | 6% | — |  | — |  | — | 69 |  | 65 |  | 6% | 6% |
| All other Vaccines                          |   | 100 |  | 34 |  | * | * | 34 |  | 3 |  | * | 66 |  | 31 |  | * | * |
| Oncology                                    |   | $ | 2,102 |  | $ | 1,240 |  | 69% | 72% | $ | 1,423 |  | $ | 619 |  | * | $ | 679 |  | $ | 621 |  | 9% | 15% |
| Ibrance                                     |   | 942 |  | 178 |  | * | * | 924 |  | 178 |  | * | 18 |  | — |  | * | * |
| Sutent                                      |   | 563 |  | 536 |  | 5% | 10% | 209 |  | 171 |  | 22% | 354 |  | 365 |  | (3%) | 4% |
| Xalkori                                     |   | 275 |  | 230 |  | 20% | 22% | 124 |  | 110 |  | 13% | 151 |  | 121 |  | 25% | 30% |
| Inlyta                                      |   | 209 |  | 206 |  | 1% | 3% | 89 |  | 98 |  | (9%) | 120 |  | 108 |  | 11% | 15% |
| All other Oncology                          |   | 112 |  | 90 |  | 25% | 26% | 77 |  | 63 |  | 23% | 35 |  | 27 |  | 30% | 34% |
| Inflammation & Immunology (I&I)     |   | $ | 1,947 |  | $ | 1,829 |  | 6% | 14% | $ | 367 |  | $ | 197 |  | 86% | $ | 1,580 |  | $ | 1,632 |  | (3%) | 5% |
| Enbrel (Outside the U.S. and Canada)        |   | 1,500 |  | 1,581 |  | (5%) | 3% | — |  | — |  | — | 1,500 |  | 1,581 |  | (5%) | 3% |
| Xeljanz                                     |   | 414 |  | 224 |  | 85% | 87% | 364 |  | 204 |  | 78% | 50 |  | 19 |  | * | * |
| All other I&I                           |   | 33 |  | 24 |  | 39% | 33% | 3 |  | (7 | ) | * | 30 |  | 31 |  | (3%) | (7%) |
| Rare Disease                                |   | $ | 1,182 |  | $ | 1,198 |  | (1%) | 3% | $ | 379 |  | $ | 393 |  | (4%) | $ | 804 |  | $ | 805 |  | — | 6% |
| BeneFIX                                     |   | 367 |  | 366 |  | — | 3% | 159 |  | 157 |  | 2% | 208 |  | 210 |  | (1%) | 4% |
| Genotropin                                  |   | 277 |  | 306 |  | (9%) | (5%) | 63 |  | 82 |  | (23%) | 214 |  | 224 |  | (4%) | 2% |
| Refacto AF/Xyntha                           |   | 268 |  | 262 |  | 2% | 6% | 64 |  | 63 |  | 3% | 204 |  | 199 |  | 2% | 8% |
| Somavert                                    |   | 114 |  | 104 |  | 9% | 12% | 39 |  | 31 |  | 25% | 75 |  | 73 |  | 2% | 7% |
| Rapamune                                    |   | 93 |  | 106 |  | (12%) | (4%) | 42 |  | 52 |  | (19%) | 50 |  | 53 |  | (6%) | 10% |
| All other Rare Disease                      |   | 63 |  | 53 |  | 18% | 19% | 11 |  | 8 |  | 33% | 52 |  | 45 |  | 16% | 17% |
| Consumer Healthcare                         |   | $ | 1,659 |  | $ | 1,648 |  | 1% | 7% | $ | 909 |  | $ | 826 |  | 10% | $ | 750 |  | $ | 822 |  | (9%) | 5% |
| PFIZER ESSENTIAL HEALTH (EH)(f)             |   | $ | 12,013 |  | $ | 10,348 |  | 16% | 22% | $ | 4,897 |  | $ | 2,996 |  | 63% | $ | 7,116 |  | $ | 7,352 |  | (3%) | 5% |
| Legacy Established Products (LEP)(g)        |   | $ | 5,664 |  | $ | 5,782 |  | (2%) | 5% | $ | 1,979 |  | $ | 1,726 |  | 15% | $ | 3,686 |  | $ | 4,056 |  | (9%) | — |
| Lipitor                                     |   | 872 |  | 950 |  | (8%) | — | 86 |  | 79 |  | 8% | 786 |  | 870 |  | (10%) | — |
| Premarin family                             |   | 507 |  | 491 |  | 3% | 4% | 479 |  | 457 |  | 5% | 29 |  | 34 |  | (15%) | (2%) |
| Norvasc                                     |   | 476 |  | 503 |  | (5%) | (1%) | 19 |  | 18 |  | 6% | 457 |  | 485 |  | (6%) | (1%) |
| EpiPen                                      |   | 190 |  | 161 |  | 18% | 19% | 169 |  | 138 |  | 22% | 21 |  | 23 |  | (10%) | (5%) |
| Xalatan/Xalacom                             |   | 182 |  | 201 |  | (9%) | (5%) | 12 |  | 13 |  | (5%) | 170 |  | 188 |  | (10%) | (5%) |
| Relpax                                      |   | 165 |  | 162 |  | 2% | 2% | 116 |  | 109 |  | 7% | 49 |  | 54 |  | (9%) | (7%) |
| Zoloft                                      |   | 156 |  | 179 |  | (13%) | (5%) | 32 |  | 28 |  | 15% | 124 |  | 151 |  | (18%) | (9%) |
| Zithromax/Zmax(h)                           |   | 147 |  | 140 |  | 5% | 10% | 3 |  | — |  | * | 144 |  | 140 |  | 3% | 8% |
| Effexor                                     |   | 137 |  | 147 |  | (7%) | (1%) | 45 |  | 50 |  | (9%) | 92 |  | 97 |  | (6%) | 3% |
| Tikosyn                                     |   | 116 |  | 79 |  | 48% | 48% | 116 |  | 79 |  | 48% | — |  | — |  | — | — |
| Xanax/Xanax XR                              |   | 108 |  | 109 |  | (1%) | 4% | 25 |  | 20 |  | 20% | 83 |  | 89 |  | (6%) | — |
| Cardura                                     |   | 94 |  | 106 |  | (12%) | (7%) | 3 |  | 2 |  | 56% | 91 |  | 105 |  | (13%) | (8%) |
| Neurontin                                   |   | 91 |  | 103 |  | (12%) | 1% | 25 |  | 24 |  | 1% | 66 |  | 78 |  | (15%) | 1% |
| Depo-Provera                                |   | 68 |  | 88 |  | (23%) | (19%) | 25 |  | 30 |  | (16%) | 43 |  | 58 |  | (27%) | (20%) |
| All other LEP                               |   | 2,355 |  | 2,364 |  | — | 9% | 823 |  | 678 |  | 21% | 1,532 |  | 1,685 |  | (9%) | 3% |
| Sterile Injectable Pharmaceuticals (SIP)(i) |   | $ | 3,021 |  | $ | 1,479 |  | * | * | $ | 1,775 |  | $ | 544 |  | * | $ | 1,246 |  | $ | 936 |  | 33% | 42% |
| Medrol(h)                                   |   | 228 |  | 186 |  | 23% | 29% | 146 |  | 99 |  | 48% | 82 |  | 87 |  | (6%) | 6% |
| Sulperazon                                  |   | 201 |  | 179 |  | 13% | 18% | — |  | — |  | — | 201 |  | 179 |  | 13% | 18% |
| Fragmin                                     |   | 160 |  | 162 |  | (1%) | 4% | 16 |  | 9 |  | 87% | 144 |  | 153 |  | (6%) | — |
| Tygacil                                     |   | 134 |  | 150 |  | (11%) | (3%) | 41 |  | 57 |  | (29%) | 93 |  | 93 |  | 1% | 13% |
| All other SIP                               |   | 2,297 |  | 803 |  | * | * | 1,572 |  | 379 |  | * | 726 |  | 424 |  | 71% | 80% |
| Peri-LOE Products(j)                        |   | $ | 2,201 |  | $ | 2,843 |  | (23%) | (18%) | $ | 485 |  | $ | 619 |  | (22%) | $ | 1,716 |  | $ | 2,224 |  | (23%) | (18%) |
| Lyrica EH(c)                                |   | 431 |  | 652 |  | (34%) | (31%) | — |  | — |  | — | 431 |  | 652 |  | (34%) | (31%) |
| Pristiq                                     |   | 372 |  | 338 |  | 10% | 13% | 300 |  | 255 |  | 18% | 73 |  | 83 |  | (12%) | — |
| Celebrex                                    |   | 355 |  | 428 |  | (17%) | (12%) | 56 |  | 80 |  | (29%) | 299 |  | 349 |  | (14%) | (9%) |
| Vfend                                       |   | 319 |  | 345 |  | (8%) | (3%) | 22 |  | 20 |  | 7% | 297 |  | 325 |  | (8%) | (3%) |
| Zyvox                                       |   | 240 |  | 530 |  | (55%) | (50%) | 42 |  | 206 |  | (80%) | 199 |  | 324 |  | (39%) | (32%) |
| Viagra EH(d)                                |   | 197 |  | 221 |  | (11%) | (4%) | — |  | — |  | — | 197 |  | 221 |  | (11%) | (4%) |
| Revatio                                     |   | 140 |  | 128 |  | 10% | 12% | 46 |  | 34 |  | 34% | 94 |  | 93 |  | 1% | 4% |
| All other Peri-LOE Products                 |   | 146 |  | 201 |  | (27%) | (22%) | 20 |  | 23 |  | (14%) | 125 |  | 177 |  | (29%) | (24%) |
| Infusion Systems(k)                         |   | $ | 599 |  | $ | — |  | * | * | $ | 470 |  | $ | — |  | * | $ | 129 |  | $ | — |  | * | * |
| Biosimilars(l)                              |   | $ | 145 |  | $ | — |  | * | * | $ | — |  | $ | — |  | — | $ | 145 |  | $ | — |  | * | * |
| Pfizer CentreOne(m)                         |   | $ | 384 |  | $ | 244 |  | 57% | 60% | $ | 188 |  | $ | 108 |  | 74% | $ | 196 |  | $ | 136 |  | 44% | 47% |
| Total Lyrica(c)                             |   | $ | 2,490 |  | $ | 2,406 |  | 4% | 6% | $ | 1,570 |  | $ | 1,272 |  | 23% | $ | 920 |  | $ | 1,134 |  | (19%) | (15%) |
| Total Viagra(d)                             |   | $ | 796 |  | $ | 843 |  | (6%) | (3%) | $ | 584 |  | $ | 605 |  | (3%) | $ | 212 |  | $ | 238 |  | (11%) | (4%) |
| Total Alliance revenues                     |   | $ | 736 |  | $ | 533 |  | 38% | 39% | $ | 456 |  | $ | 351 |  | 30% | $ | 281 |  | $ | 181 |  | 55% | 57% |

----

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                        |   | DEVELOPED EUROPE(n) | DEVELOPED REST OF WORLD(o) | EMERGING MARKETS(p) |
|                                        |   | 2016 | 2015 | % Change | 2016 | 2015 | % Change | 2016 | 2015 | % Change |
| (MILLIONS OF DOLLARS)                       |   | Total | Oper. | Total | Oper. | Total | Oper. |
| TOTAL INTERNATIONAL REVENUES                |   | $ | 4,810 |  | $ | 4,691 |  | 3% | 5% | $ | 3,238 |  | $ | 3,050 |  | 6% | 7% | $ | 5,143 |  | $ | 5,548 |  | (7%) | 8% |
| PFIZER INNOVATIVE HEALTH (IH)(b)            |   | $ | 2,675 |  | $ | 2,477 |  | 8% | 11% | $ | 1,596 |  | $ | 1,458 |  | 9% | 10% | $ | 1,804 |  | $ | 2,002 |  | (10%) | 8% |
| Internal Medicine                           |   | $ | 263 |  | $ | 88 |  | * | * | $ | 659 |  | $ | 555 |  | 19% | 18% | $ | 239 |  | $ | 236 |  | 1% | 22% |
| Lyrica IH(c)                                |   | — |  | — |  | — | — | 379 |  | 340 |  | 11% | 10% | 110 |  | 142 |  | (23%) | 2% |
| Viagra IH(d)                                |   | — |  | — |  | — | — | 16 |  | 17 |  | (9%) | 1% | — |  | — |  | — | — |
| Chantix/Champix                             |   | 40 |  | 40 |  | 1% | 5% | 68 |  | 63 |  | 7% | 12% | 18 |  | 26 |  | (28%) | (15%) |
| Toviaz                                      |   | 35 |  | 34 |  | 5% | 9% | 39 |  | 32 |  | 21% | 19% | 7 |  | 6 |  | 9% | 21% |
| BMP2                                        |   | — |  | — |  | — | — | — |  | — |  | — | — | — |  | — |  | — | — |
| Alliance revenues(q)                        |   | 165 |  | 83 |  | 99% | * | 108 |  | 61 |  | 78% | 76% | (1 | ) | 8 |  | * | * |
| All other Internal Medicine                 |   | 23 |  | (68 | ) | * | * | 49 |  | 42 |  | 17% | 15% | 105 |  | 55 |  | 91% | * |
| Vaccines                                    |   | $ | 400 |  | $ | 374 |  | 7% | 10% | $ | 214 |  | $ | 208 |  | 3% | 5% | $ | 488 |  | $ | 596 |  | (18%) | (11%) |
| Prevnar/Prevenar 13                         |   | 289 |  | 293 |  | (1%) | 2% | 211 |  | 207 |  | 2% | 4% | 467 |  | 581 |  | (20%) | (12%) |
| FSME/IMMUN-TicoVac                          |   | 58 |  | 51 |  | 14% | 14% | — |  | — |  | — | — | 11 |  | 14 |  | (23%) | (24%) |
| All other Vaccines                          |   | 53 |  | 30 |  | 78% | 83% | 3 |  | — |  | * | * | 10 |  | 1 |  | * | * |
| Oncology                                    |   | $ | 317 |  | $ | 303 |  | 5% | 8% | $ | 145 |  | $ | 130 |  | 11% | 10% | $ | 217 |  | $ | 188 |  | 15% | 31% |
| Ibrance                                     |   | 5 |  | — |  | * | * | — |  | — |  | — | — | 13 |  | — |  | * | * |
| Sutent                                      |   | 170 |  | 175 |  | (3%) | — | 57 |  | 57 |  | — | 1% | 126 |  | 133 |  | (5%) | 10% |
| Xalkori                                     |   | 73 |  | 60 |  | 22% | 25% | 28 |  | 24 |  | 18% | 20% | 50 |  | 37 |  | 37% | 46% |
| Inlyta                                      |   | 53 |  | 53 |  | — | 3% | 46 |  | 41 |  | 11% | 7% | 22 |  | 14 |  | 55% | 82% |
| All other Oncology                          |   | 16 |  | 14 |  | 11% | 14% | 14 |  | 8 |  | 70% | 65% | 5 |  | 4 |  | 21% | 41% |
| Inflammation & Immunology (I&I)     |   | $ | 995 |  | $ | 1,018 |  | (2%) | 1% | $ | 256 |  | $ | 243 |  | 5% | 5% | $ | 329 |  | $ | 371 |  | (12%) | 17% |
| Enbrel (Outside Canada)                     |   | 986 |  | 1,013 |  | (3%) | — | 203 |  | 204 |  | (1%) | (1%) | 311 |  | 364 |  | (15%) | 13% |
| Xeljanz                                     |   | 9 |  | 5 |  | 92% | 98% | 23 |  | 7 |  | * | * | 18 |  | 7 |  | * | * |
| All other I&I                           |   | — |  | — |  | — | — | 30 |  | 31 |  | (3%) | (7%) | — |  | — |  | — | — |
| Rare Disease                                |   | $ | 485 |  | $ | 486 |  | — | 3% | $ | 195 |  | $ | 192 |  | 2% | 3% | $ | 123 |  | $ | 126 |  | (2%) | 21% |
| BeneFIX                                     |   | 126 |  | 125 |  | — | 4% | 62 |  | 66 |  | (6%) | (2%) | 21 |  | 19 |  | 9% | 25% |
| Genotropin                                  |   | 93 |  | 99 |  | (6%) | (3%) | 79 |  | 77 |  | 2% | — | 42 |  | 47 |  | (11%) | 18% |
| Refacto AF/Xyntha                           |   | 156 |  | 155 |  | 1% | 4% | 23 |  | 20 |  | 15% | 25% | 25 |  | 24 |  | 1% | 15% |
| Somavert                                    |   | 60 |  | 59 |  | 2% | 4% | 8 |  | 7 |  | 11% | 13% | 7 |  | 7 |  | — | 23% |
| Rapamune                                    |   | 21 |  | 21 |  | (4%) | — | 7 |  | 7 |  | (9%) | — | 23 |  | 25 |  | (7%) | 23% |
| All other Rare Disease                      |   | 30 |  | 27 |  | 10% | 12% | 16 |  | 14 |  | 18% | 14% | 7 |  | 5 |  | 42% | 51% |
| Consumer Healthcare                         |   | $ | 214 |  | $ | 208 |  | 3% | 5% | $ | 127 |  | $ | 130 |  | (2%) | 8% | $ | 409 |  | $ | 485 |  | (16%) | 4% |
| PFIZER ESSENTIAL HEALTH (EH)(f)             |   | $ | 2,135 |  | $ | 2,214 |  | (4%) | (1%) | $ | 1,642 |  | $ | 1,592 |  | 3% | 3% | $ | 3,339 |  | $ | 3,546 |  | (6%) | 9% |
| Legacy Established Products (LEP)(g)        |   | $ | 783 |  | $ | 796 |  | (2%) | 1% | $ | 961 |  | $ | 1,036 |  | (7%) | (7%) | $ | 1,942 |  | $ | 2,224 |  | (13%) | 4% |
| Lipitor                                     |   | 93 |  | 103 |  | (10%) | (7%) | 117 |  | 131 |  | (11%) | (8%) | 576 |  | 636 |  | (9%) | 2% |
| Premarin family                             |   | 3 |  | 4 |  | (29%) | (26%) | 13 |  | 13 |  | (5%) | 2% | 13 |  | 17 |  | (20%) | — |
| Norvasc                                     |   | 35 |  | 39 |  | (9%) | (7%) | 119 |  | 135 |  | (12%) | (13%) | 302 |  | 311 |  | (3%) | 4% |
| Epipen                                      |   | — |  | — |  | — | — | 21 |  | 23 |  | (10%) | (5%) | — |  | — |  | — | — |
| Xalatan/Xalacom                             |   | 37 |  | 45 |  | (18%) | (16%) | 78 |  | 80 |  | (3%) | (4%) | 55 |  | 63 |  | (13%) | 2% |
| Relpax                                      |   | 20 |  | 28 |  | (28%) | (25%) | 21 |  | 19 |  | 8% | 6% | 8 |  | 7 |  | 17% | 28% |
| Zoloft                                      |   | 17 |  | 15 |  | 11% | 14% | 48 |  | 78 |  | (38%) | (39%) | 58 |  | 58 |  | 1% | 25% |
| Zithromax/Zmax(h)                           |   | 24 |  | 23 |  | 7% | 10% | 28 |  | 30 |  | (8%) | (10%) | 92 |  | 87 |  | 6% | 13% |
| Effexor                                     |   | 31 |  | 34 |  | (10%) | (8%) | 21 |  | 17 |  | 26% | 32% | 40 |  | 47 |  | (14%) | 1% |
| Tikosyn                                     |   | — |  | — |  | — | — | — |  | — |  | — | — | — |  | — |  | — | — |
| Xanax/Xanax XR                              |   | 41 |  | 41 |  | — | 3% | 10 |  | 11 |  | (10%) | (12%) | 32 |  | 37 |  | (12%) | — |
| Cardura                                     |   | 27 |  | 33 |  | (16%) | (14%) | 23 |  | 27 |  | (14%) | (16%) | 40 |  | 45 |  | (9%) | 2% |
| Neurontin                                   |   | 22 |  | 23 |  | (4%) | (1%) | 15 |  | 16 |  | (8%) | (5%) | 29 |  | 39 |  | (25%) | 4% |
| Depo-Provera                                |   | 10 |  | 11 |  | (6%) | (2%) | 5 |  | 5 |  | (2%) | 8% | 27 |  | 42 |  | (35%) | (29%) |
| All other LEP                               |   | 422 |  | 398 |  | 6% | 9% | 442 |  | 450 |  | (2%) | (3%) | 668 |  | 837 |  | (20%) | 4% |
| Sterile Injectable Pharmaceuticals (SIP)(i) |   | $ | 334 |  | $ | 263 |  | 27% | 30% | $ | 265 |  | $ | 143 |  | 85% | 88% | $ | 648 |  | $ | 530 |  | 22% | 35% |
| Medrol(h)                                   |   | 27 |  | 29 |  | (6%) | (3%) | 12 |  | 12 |  | (6%) | (4%) | 43 |  | 46 |  | (6%) | 15% |
| Sulperazon                                  |   | — |  | — |  | — | — | 7 |  | 8 |  | (14%) | (17%) | 194 |  | 171 |  | 14% | 20% |
| Fragmin                                     |   | 83 |  | 88 |  | (5%) | (1%) | 35 |  | 39 |  | (10%) | (1%) | 25 |  | 26 |  | (3%) | 4% |
| Tygacil                                     |   | 32 |  | 29 |  | 11% | 13% | 3 |  | 3 |  | (5%) | 2% | 58 |  | 60 |  | (4%) | 14% |
| All other SIP                               |   | 191 |  | 117 |  | 63% | 66% | 208 |  | 80 |  | * | * | 327 |  | 227 |  | 44% | 59% |
| Peri-LOE Products(j)                        |   | $ | 734 |  | $ | 1,067 |  | (31%) | (29%) | $ | 345 |  | $ | 396 |  | (13%) | (13%) | $ | 637 |  | $ | 762 |  | (16%) | (4%) |
| Lyrica EH(c)                                |   | 376 |  | 581 |  | (35%) | (33%) | — |  | — |  | — | — | 55 |  | 71 |  | (22%) | (14%) |
| Pristiq                                     |   | 11 |  | 8 |  | 36% | 40% | 35 |  | 47 |  | (25%) | (18%) | 27 |  | 28 |  | (3%) | 20% |
| Celebrex                                    |   | 16 |  | 25 |  | (35%) | (33%) | 135 |  | 156 |  | (13%) | (15%) | 148 |  | 168 |  | (12%) | 1% |
| Vfend                                       |   | 120 |  | 129 |  | (7%) | (4%) | 62 |  | 58 |  | 6% | 4% | 115 |  | 137 |  | (16%) | (5%) |
| Zyvox                                       |   | 75 |  | 152 |  | (51%) | (48%) | 39 |  | 48 |  | (18%) | (20%) | 84 |  | 123 |  | (32%) | (15%) |
| Viagra EH(d)                                |   | 24 |  | 28 |  | (15%) | (12%) | 18 |  | 20 |  | (9%) | (6%) | 155 |  | 173 |  | (11%) | (2%) |
| Revatio                                     |   | 62 |  | 61 |  | 1% | 4% | 17 |  | 18 |  | (6%) | (9%) | 15 |  | 14 |  | 11% | 21% |
| All other Peri-LOE Products                 |   | 49 |  | 81 |  | (40%) | (38%) | 39 |  | 49 |  | (20%) | (21%) | 38 |  | 47 |  | (20%) | (2%) |
| Infusion Systems(k)                         |   | $ | 29 |  | $ | — |  | * | * | $ | 45 |  | $ | — |  | * | * | $ | 55 |  | $ | — |  | * | * |
| Biosimilars(l)                              |   | $ | 129 |  | $ | — |  | * | * | $ | 3 |  | $ | — |  | * | * | $ | 13 |  | $ | — |  | * | * |
| Pfizer CentreOne(m)                         |   | $ | 128 |  | $ | 88 |  | 45% | 47% | $ | 24 |  | $ | 17 |  | 44% | 47% | $ | 43 |  | $ | 31 |  | 42% | 45% |
| Total Lyrica(c)                             |   | $ | 376 |  | $ | 581 |  | (35%) | (33%) | $ | 379 |  | $ | 340 |  | 11% | 10% | $ | 165 |  | $ | 213 |  | (23%) | (3%) |
| Total Viagra(d)                             |   | $ | 24 |  | $ | 28 |  | (15%) | (12%) | $ | 34 |  | $ | 37 |  | (9%) | (3%) | $ | 155 |  | $ | 173 |  | (11%) | (2%) |
| Total Alliance revenues                     |   | $ | 171 |  | $ | 104 |  | 65% | 69% | $ | 109 |  | $ | 63 |  | 73% | 71% | $ | 1 |  | $ | 15 |  | (97%) | (93%) |

----

|        |
|--------|
|        |  |
| (a)    | Total International represents Developed Europe region + Developed Rest of World region + Emerging Markets region. Details for these regions are described in footnotes (n) to (p) below, respectively, and the product revenues from these regions are described on pages 29 and 31. |
| (b)    | The Pfizer Innovative Health business, previously known as the Innovative Products business, encompasses Internal Medicine, Vaccines, Oncology, Inflammation & Immunology, Rare Disease and Consumer Healthcare. |
| (c)    | Lyrica revenues from all of Europe, Russia, Turkey, Israel and Central Asia countries are included in Lyrica EH. All other Lyrica revenues are included in Lyrica IH. Total Lyrica revenues represent the aggregate of worldwide revenues from Lyrica IH and Lyrica EH. |
| (d)    | Viagra revenues from the U.S. and Canada are included in Viagra IH. All other Viagra revenues are included in Viagra EH. Total Viagra revenues represent the aggregate of worldwide revenues from Viagra IH and Viagra EH. |
| (e)    | Includes Eliquis (2016 and 2015) and Rebif (2015 only). |
| (f)    | The Pfizer Essential Health business, previously known as the Established Products business, encompasses Legacy Established Products, Sterile Injectable Pharmaceuticals, Peri-LOE Products, Infusion Systems, Biosimilars and Pfizer CentreOne and includes all legacy Hospira commercial operations. Hospira's commercial operations, including the legacy Hospira One-2-One sterile injectables contract manufacturing business, are included in EH's operating results in our consolidated statements of income, commencing from the acquisition date of September 3, 2015. As a result, EH's revenues for the second quarter and first six months of 2015 do not include Hospira's revenues. Also, effective as of the beginning of 2016, our entire contract manufacturing business, Pfizer CentreOne, is part of EH. Pfizer CentreOne consists of (i) legacy Pfizer's contract manufacturing and active pharmaceutical ingredient sales operation, including our manufacturing and supply agreements with Zoetis Inc. (previously known as Pfizer CentreSource or PCS); and (ii) legacy Hospira's One-2-One sterile injectables contract manufacturing operation. Prior to 2016, PCS was managed outside our operating segments and its revenues were reported as other business activities. We have reclassified prior period PCS revenues ($133 million in the second quarter of 2015 and $244 million in the first six months of 2015) to conform to the current period presentation as part of EH. |
| (g)    | Legacy Established Products include products that have lost patent protection (excluding Sterile Injectable Pharmaceuticals and Peri-LOE Products). |
| (h)    | Prior period revenues for Medrol and Zithromax/Zmax may not agree to previously-disclosed revenues because revenues for those products are now split between the Legacy Established Products and the Sterile Injectable Pharmaceuticals categories. |
| (i)    | Sterile Injectable Pharmaceuticals include generic injectables and proprietary specialty injectables (excluding Peri-LOE Products). |
| (j)    | Peri-LOE Products include products that have recently lost or are anticipated to soon lose patent protection. These products primarily include Lyrica in certain developed Europe markets, Pristiq globally, Celebrex, Zyvox and Revatio in most developed markets, Vfend and Viagra in certain developed Europe markets and Japan, and Inspra in the EU. |
| (k)    | Infusion Systems include Medication Management Systems products composed of infusion pumps and related software and services, as well as I.V. Infusion Products, including large volume I.V. solutions and their associated administration sets. |
| (l)    | Biosimilars include Inflectra (biosimilar infliximab) in certain European markets, Nivestim (biosimilar filgrastim) in certain Asian markets and Retacrit (biosimilar epoetin zeta) in certain international markets. |
| (m)    | Pfizer CentreOne includes (i) revenues from legacy Pfizer's contract manufacturing and active pharmaceutical ingredient sales operation, including revenues related to our manufacturing and supply agreements with Zoetis Inc. (previously known as Pfizer CentreSource or PCS); and (ii) revenues from legacy Hospira’s One-2-One sterile injectables contract manufacturing operation. |
| (n)    | Developed Europe region includes the following markets: Western Europe, Finland and the Scandinavian countries. |
| (o)    | Developed Rest of World region includes the following markets: Australia, Canada, Japan, New Zealand and South Korea. |
| (p)    | Emerging Markets region includes, but is not limited to, the following markets: Asia (excluding Japan and South Korea), Latin America, Africa, Eastern Europe, Central Europe, the Middle East and Turkey. |
| (q)    | Includes Eliquis. |
| *      | Indicates calculation not meaningful. |
|   | Amounts may not add due to rounding. All percentages have been calculated using unrounded amounts. |

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the outcome of research and development activities, including, without limitation, the ability to meet anticipated pre-clinical and clinical trial commencement and completion dates, regulatory submission and approval dates, and launch dates for product candidates, as well as the possibility of unfavorable pre-clinical and clinical trial results, including unfavorable new clinical data and additional analyses of existing clinical data; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | decisions by regulatory authorities regarding whether and when to approve our drug applications, which will depend on the assessment by such regulatory authorities of the benefit-risk profile suggested by the totality of the efficacy and safety information submitted; decisions by regulatory authorities regarding labeling, ingredients and other matters that could affect the availability or commercial potential of our products; and uncertainties regarding our ability to address the comments in complete response letters received by us with respect to certain of our drug applications to the satisfaction of the FDA; |

|         |                                                                                                         |
|---------|---------------------------------------------------------------------------------------------------------|
| ▪ | the speed with which regulatory authorizations, pricing approvals and product launches may be achieved; |

|         |                                                                                                                                                                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the outcome of post-approval clinical trials, which could result in the loss of marketing approval for a product or changes in the labeling for, and/or increased or new concerns about the safety or efficacy of, a product that could affect its availability or commercial potential; |

|         |                                                                                                                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | risks associated with interim data, including the risk that final results of studies for which interim data have been provided and/or additional clinical trials may be different from (including less favorable than) the interim data results and may not support further clinical development of the applicable product candidate or indication; |

|         |                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the success of external business-development activities, including the ability to satisfy the conditions to closing of any announced transactions in the anticipated time frame or at all; |

|         |                                                                                                                                                                                                                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | competitive developments, including the impact on our competitive position of new product entrants, in-line branded products, generic products, private label products and product candidates that treat diseases and conditions similar to those treated by our in-line drugs and drug candidates; |

|         |                                                                                                                                                                                                                                                                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the implementation by the FDA and regulatory authorities in certain other countries of an abbreviated legal pathway to approve biosimilar products, which could subject our biologic products to competition from biosimilar products, with attendant competitive pressures, after the expiration of any applicable exclusivity period and patent rights; |

|         |                                                                 |
|---------|-----------------------------------------------------------------|
| ▪ | risks related to our ability to develop and launch biosimilars; |

|         |                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the ability to meet generic and branded competition after the loss of patent protection for our products or competitor products; |

|         |                                                                                                     |
|---------|-----------------------------------------------------------------------------------------------------|
| ▪ | the ability to successfully market both new and existing products domestically and internationally; |

|         |                                          |
|---------|------------------------------------------|
| ▪ | difficulties or delays in manufacturing; |

|         |                        |
|---------|------------------------|
| ▪ | trade buying patterns; |

|         |                                                                                                 |
|---------|-------------------------------------------------------------------------------------------------|
| ▪ | the impact of existing and future legislation and regulatory provisions on product exclusivity; |

|         |                                                             |
|---------|-------------------------------------------------------------|
| ▪ | trends toward managed care and healthcare cost containment; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the impact of any significant spending reductions or cost controls affecting Medicare, Medicaid or other publicly funded or subsidized health programs or changes in the tax treatment of employer-sponsored health insurance that may be implemented, and/or any significant additional taxes or fees that may be imposed on the pharmaceutical industry as part of any broad deficit-reduction effort; |

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|         |                                                                                                                                                                                                                                                                        |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the impact of U.S. healthcare legislation enacted in 2010—the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act—and of any modification, repeal or invalidation of any of the provisions thereof; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | U.S. federal or state legislation or regulatory action affecting, among other things, pharmaceutical product pricing, reimbursement or access, including under Medicaid, Medicare and other publicly funded or subsidized health programs; the importation of prescription drugs from outside the U.S. at prices that are regulated by governments of various foreign countries; restrictions on direct-to-consumer advertising; limitations on interactions with healthcare professionals; or the use of comparative effectiveness methodologies that could be implemented in a manner that focuses primarily on the cost differences and minimizes the therapeutic differences among pharmaceutical products and restricts access to innovative medicines; as well as pricing pressures for our products as a result of highly competitive insurance markets; |

|         |                                                                                                                                                                                                                                                                                                                |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | legislation or regulatory action in markets outside the U.S. affecting pharmaceutical product pricing, reimbursement or access, including, in particular, continued government-mandated reductions in prices and access restrictions for certain biopharmaceutical products to control costs in those markets; |

|         |                                                                                                                                                                                                                                                                                                                          |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the exposure of our operations outside the U.S. to possible capital and exchange controls, expropriation and other restrictive government actions, changes in intellectual property legal protections and remedies, as well as political unrest, unstable governments and legal systems and inter-governmental disputes; |

|         |                                                                         |
|---------|-------------------------------------------------------------------------|
| ▪ | contingencies related to actual or alleged environmental contamination; |

|         |                                                                                                                 |
|---------|-----------------------------------------------------------------------------------------------------------------|
| ▪ | claims and concerns that may arise regarding the safety or efficacy of in-line products and product candidates; |

|         |                                                                                                                   |
|---------|-------------------------------------------------------------------------------------------------------------------|
| ▪ | any significant breakdown, infiltration or interruption of our information technology systems and infrastructure; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                             |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | legal defense costs, insurance expenses, settlement costs, the risk of an adverse decision or settlement and the adequacy of reserves related to product liability, patent matters, government investigations, consumer, commercial, securities, antitrust, environmental, employment, tax issues, ongoing efforts to explore various means for resolving asbestos litigation, and other legal proceedings; |

|         |                                                                                                            |
|---------|------------------------------------------------------------------------------------------------------------|
| ▪ | our ability to protect our patents and other intellectual property, both domestically and internationally; |

|         |                                                                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | interest rate and foreign currency exchange rate fluctuations, including the impact of possible currency devaluations in countries experiencing high inflation rates and the volatility following the United Kingdom (U.K.) referendum in which voters approved an exit from the EU; |

|         |                                                                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | governmental laws and regulations affecting domestic and foreign operations, including, without limitation, tax obligations and changes affecting the tax treatment by the U.S. of income earned outside the U.S. that may result from pending and possible future proposals; |

|         |                                                                                                                                                                                                                                      |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the end result of any negotiations between the U.K. government and the EU regarding the terms of the U.K.'s exit from the EU, which could have implications on our research, commercial and general business operations in the U.K.; |

|         |                                                                                                                             |
|---------|-----------------------------------------------------------------------------------------------------------------------------|
| ▪ | any significant issues involving our largest wholesaler customers, which account for a substantial portion of our revenues; |

|         |                                                                                                                                                                                        |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the possible impact of the increased presence of counterfeit medicines in the pharmaceutical supply chain on our revenues and on patient confidence in the integrity of our medicines; |

|         |                                                                                                                                                                                                                                                      |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | any significant issues that may arise related to the outsourcing of certain operational and staff functions to third parties, including with regard to quality, timeliness and compliance with applicable legal requirements and industry standards; |

|         |                                                                                                                  |
|---------|------------------------------------------------------------------------------------------------------------------|
| ▪ | any significant issues that may arise related to our joint ventures and other third-party business arrangements; |

|         |                                                           |
|---------|-----------------------------------------------------------|
| ▪ | changes in U.S. generally accepted accounting principles; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | uncertainties related to general economic, political, business, industry, regulatory and market conditions including, without limitation, uncertainties related to the impact on us, our customers, suppliers and lenders and counterparties to our foreign-exchange and interest-rate agreements of challenging global economic conditions and recent and possible future changes in global financial markets; and the related risk that our allowance for doubtful accounts may not be adequate; |

|         |                                                                                                                                                                                                |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | any changes in business, political and economic conditions due to actual or threatened terrorist activity in the U.S. and other parts of the world, and related U.S. military action overseas; |

|         |                               |
|---------|-------------------------------|
| ▪ | growth in costs and expenses; |

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|         |                                                     |
|---------|-----------------------------------------------------|
| ▪ | changes in our product, segment and geographic mix; |

|         |                                                                                                                                  |
|---------|----------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the impact of purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items; |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                               |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | the impact of acquisitions, divestitures, restructurings, internal reorganizations, product recalls, withdrawals and other unusual items, including our ability to realize the projected benefits of our cost-reduction and productivity initiatives, including those related to our research and development organization, and of the internal separation of our commercial operations into our current operating structure; |

|         |                                                                                                           |
|---------|-----------------------------------------------------------------------------------------------------------|
| ▪ | the risk of an impairment charge related to our intangible assets, goodwill or equity-method investments; |

|         |                                                                 |
|---------|-----------------------------------------------------------------|
| ▪ | risks related to internal control over financial reporting; and |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| ▪ | risks and uncertainties related to our recent acquisitions of Hospira and Anacor, including, among other things, the ability to realize the anticipated benefits of the acquisitions of Hospira and Anacor, including the possibility that expected cost savings related to the acquisition of Hospira and accretion related to the acquisitions of Hospira and Anacor will not be realized or will not be realized within the expected time frame; the risk that the businesses will not be integrated successfully; disruption from the transaction making it more difficult to maintain business and operational relationships; significant transaction costs; and unknown liabilities. |