Welcome

LARRY MCGRATH

EVP AND CHIEF STRATEGY OFFICER AND CHIEF STRATEGIC ADVISOR TO THE CEO



Cautionary statement

regarding forward looking statements

This presentation includes forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by or on behalf of CVS Health Corporation ("CVS Health"). By their nature, all forward-looking statements are not guarantees of future performance or results and are subject to risks and uncertainties that are difficult to predict and/or quantify. Actual results may also differ materially from those contemplated by the forward-looking statements due to the risks and uncertainties described in our Securities and Exchange Commission filings, including those set forth in the Risk Factors section and under the heading "Cautionary Statement Concerning Forward-Looking Statements" in our most recent Annual Report on Form 10-K, our most recent Quarterly Report on Form 10-Q, our recent Current Reports on Form 8-K, and this morning's press release.

This presentation includes non-GAAP financial measures that we use to describe our company's performance. In accordance with SEC regulations, you can find the definitions of these non-GAAP measures, as well as reconciliations to the most directly comparable GAAP measures, in this morning's press release as well as in our non-GAAP reconciliation document, which is available on the Investor Relations portion of our website.

©2025 CVS Health and/or one of its affiliates. Confidential and proprietary. 3



Today's agenda

Welcome and Introductions Larry McGrath

Reimagining Health Care David Joyner

Best-in-Class Businesses Business Leadership

Health Care Consumer Engagement Platform Prem Shah and Tilak Mandadi

Delivering on our Commitments Brian Newman

Executive Q&A CVS Health Management Team

©2025 CVS Health and/or one of its affiliates. Confidential and proprietary. 4



Reimagining Health Care

DAVID JOYNER

PRESIDENT AND CHIEF EXECUTIVE OFFICER



Becoming America's

most trusted

health care company

©2025 CVS Health and/or one of its affiliates. Confidential and proprietary. 6



Our Purpose

To simplify health care one person, one family

and one community at a time

©2025 CVS Health and/or one of its affiliates. Confidential and proprietary. 7



T H E N E X T C H A P T E R O F

CVS Health

TO CREATE SUSTAINABLE SHAREHOLDER VALUE

Deliver

best-in-class execution

Transform consumer experiences

Be the partner of choice

Harness enterprise capabilities

ENABLED BY INNOVATION AND CAPITAL STEWARDSHIP

©2025 CVS Health and/or one of its affiliates. Confidential and proprietary. 8



Mid-teens CAGR through 2028

Significant adjusted EPS

growth driven by execution across our diversified businesses

©2025 CVS Health and/or one of its affiliates. Confidential and proprietary. 9



WHAT YOU CAN EXPECT FROM US

We will reimagine health care

Right assets, right strategy

and the right management team

Innovate to solve health care's

most complex challenges at scale

Robust cash flow generation, with a balanced approach to capital deployment

OUR COMMITMENT:

Delivering mid-teens adjusted EPS CAGR

through 2028 driven by our diversified businesses

©2025 CVS Health and/or one of its affiliates. Confidential and proprietary. 10



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Disclaimer

CVS Health Corporation published this content on December 09, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on December 10, 2025 at 17:11 UTC.