Pfizer Investor Presentation — July 2018

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Earnings Teleconference

July 31, 2018 Introduction

Senior Vice President,

Second Quarter 2018 Earnings Second Quarter 2018 Earnings

3 Forward -Looking Statements and

Non-GAAP Financial Information

 Our discussions during this conference call will include forward -looking statements about, among other

things, our anticipated future operating and financial performance, business plans and prospects, in -line

products and product candidates, including anticipated regulatory submissions, data read-outs, study

starts, approvals, performance, timing of exclusivity and potential benefits of Pfizer's products and product candidates, strategic reviews, capital allocation, business -development plans, the benefits

expected from our acquisitions and other business development activities, manufacturing and product supply and plans relating to share repurchases and dividends that are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information regarding these factors can be found in Pfizer’s Annual Report on Form 10 -K for the fiscal year ended December 31, 2017 and in our subsequent reports on Form 10 -Q,

including in the sections thereof captioned “Risk Factors” and “Forward -Looking Information and Factors

That May Affect Future Results”, as well as in our subsequent reports on Form 8 -K, all of which are filed

with the U.S. Securities and Exchange Commission and available at www.sec.gov and www.pfizer.com

The forward -looking statements in this presentation speak only as of the original date of this

presentation and we undertake no obligation to update or revise any of these statements.

 Also, the discussions during this conference call will include certain financial measures that were not prepared in accordance with U.S. generally accepted accounting principles (GAAP). Reconciliations of those non-U.S. GAAP financial measures to the most directly comparable U.S. GAAP financial measures can be found in Pfizer’s Current Report on Form 8 -K dated July 31, 2018. Any non -U.S.