Teva Pharmaceutical Industries Investor Presentation — January 2020

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Teva Pharmaceutical Industries Ltd.

J.P. Morgan Healthcare Conference

January 13, 2020 Cautionary Note Regarding Forward-Looking Statements

This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and

are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such

forward -looking statements. Important factors that could cause or contribute to such differences include risks relating to:

•our ability to successfully compete in the marketplace, including: that we are substantially dependent on our generic product s; competition for our specialty products, especially COPAXONE®, our

leading medicine, which faces competition from existing and potential additional generic versions and orally -administered alternatives; the uncertainty of commercial success of AJOVY® or AUSTEDO®;

competition from companies with greater resources and capabilities; efforts of pharmaceutical companies to limit the use of generics, including through legislation and regulations; consolidation of our customer base and commercial alliances among our customers; the increase in the number of competitors targeting generic oppor tunities and seeking U.S. market exclusivity for generic versions of

significant products; price erosion relating to our products, both from competing products and increased regulation; delays i n launs of new products and our ability to achieve expected results from

investments in our product pipeline; our ability to take advantage of high-value opportunities; the difficulty and expense of obtaining licenses to proprietary technologies; and the effectiveness of our patents and other measures to protect our intellectual property rights ;

•our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments, may result in a further downgrade of our credit

ratings; and our inability to raise debt or borrow funds in amounts or on terms that are favorable to us ;

•our business and operations in general, including: failure to effectively execute our restructuring plan announced in December 2017; uncertainties related to, and failure to achieve, the potential benefits

and success of our senior management team and organizational structure, including changes to our senior management team ; harm to our pipeline of future products due to the ongoing review of our

R&D programs; our ability to develop and commercialize additional pharmaceutical products; potential additional adverse consequences following our resolution with the U.S. government of our FCPA