Amgen : 2023 Annual Meeting of Stockholders Presentation

Reconciliations

Amgen Inc.

GAAP to Non-GAAP Reconciliations

(Dollars in millions)

(Unaudited)

Amgen Inc.

GAAP to Non-GAAP Reconciliations

(Dollars in millions, except per-share data)

(Unaudited)

1. The adjustments related primarily to noncash amortization of intangible assets from business acquisitions.
2. For 2022, the adjustments related primarily to cumulative foreign currency translation adjustments from a nonstrategic divestiture. For 2021, the adjustments related primarily to the change in fair values of contingent consideration liabilities.
3. The adjustments related to certain acquisition items, prior period and other items excluded from GAAP earnings.
4. The tax effect of the adjustments between our GAAP and non-GAAP results takes into account the tax treatment and related tax rate(s) that apply to each adjustment in the applicable tax jurisdiction(s). Generally, this results in a tax impact at the U.S. marginal tax rate for certain adjustments, including the majority of amortization of intangible assets, whereas the tax impact of other adjustments, including restructuring initiatives, depends on whether the amounts are deductible in the respective tax jurisdictions and the applicable tax rate(s) in those jurisdictions. Due to these factors, the effective tax rate for the adjustments to our GAAP income before income taxes for 2022 and 2021 were 18.4% and 20.7%, respectively.

Amgen Inc.

Reconciliations of Cash Flows

(in millions)

(Unaudited)