Amgen : Investor Presentation September 2021

INVESTOR PRESENTATION

SEPTEMBER 2021

SAFE HARBOR STATEMENT

This presentation contains forward-looking statements that are based on the current expectations and beliefs of Amgen. All statements, other than statements of historical fact, are statements that could be deemed forward- looking statements, including any statements on the outcome, benefits and synergies of collaborations, or potential collaborations, with any other company (including BeiGene, Ltd. or any collaboration to manufacture therapeutic antibodies against COVID-19), the performance of Otezla® (apremilast) (including anticipated Otezla sales growth and the timing of non-GAAP EPS accretion), or the Five Prime Therapeutics, Inc. acquisition, as well as estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes, effects of pandemics or other widespread health problems such as the ongoing COVID-19 pandemic on our business, outcomes, progress, or effects relating to studies of Otezla as a potential treatment for COVID-19, and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission reports filed by Amgen, including our most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and current reports on Form 8-K. Unless otherwise noted, Amgen is providing this information as of the date of this presentation and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.

No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products, including our devices, after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities, including in Puerto Rico, and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. An outbreak of disease or similar public health threat, such as COVID-19, and the public and governmental effort to mitigate against the spread of such disease, could have a significant adverse effect on the supply of materials for our manufacturing activities, the distribution of our products, the commercialization of our product candidates, and our clinical trial operations, and any such events may have a material adverse effect on our product development, product sales, business and results of operations. We rely on collaborations with third parties for the development of some of our product candidates and for the commercialization and sales of some of our commercial products. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates or development of new indications for existing products cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate or development of a new indication for an existing product will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to collaborate with or acquire other companies, products or technology, and to integrate the operations of companies or to support the products or technology we have acquired, may not be successful. A breakdown, cyberattack or information security breach could compromise the confidentiality, integrity and availability of our systems and our data. Our stock price is volatile and may be affected by a number of events. Global economic conditions may magnify certain risks that affect our business. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all.

The information relating to our Q4/fiscal year 2020 and Q2 2021 results are expressly limited to information through December 31, 2020 and June 30, 2021, respectively, and future results are subject to the effects of the ongoing COVID-19 pandemic on our business, including disruptions and effects on our product sales, and extrapolation on such results should include the timing and effects of the COVID-19 pandemic discussed in our oral presentation and our Form 10-K for the fiscal year ended December 31, 2020 and our Form 10-Q through the period ended June 30, 2021.

This presentation includes GAAP and non-GAAP financial measures. In accordance with the requirements of SEC Regulation G, reconciliations between these two measures, if these slides are in hard copy, accompany the hard copy presentation or, if these slides are delivered electronically, are available on the Company's website at www.amgen.com within the Investors section.

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HIGHLIGHTS

• Executed well through the first half while investing in innovation for future growth
• • LUMAKRAS recently approved by the FDA and recent data supports initiation of Phase 3 trial of LUMAKRAS + Vectibix in colorectal cancer
  • Tezepelumab received priority review from the FDA
  • Acquired Five Prime and entered into collaboration with Kyowa Kirin, adding two Phase 3- ready assets (Bemarituzumab and KHK4083) to our pipeline
  • Acquired Teneobio adding proprietary platforms that strengthen our leadership in developing engineered protein-based therapies
• Strong volume driven growth from innovative products
• Biosimilars are a meaningful growth driver with anticipated future growth driven by new launches and geographic expansion

Provided September 22, 2021, as part of an oral presentation and is
qualified by such, contains forward-looking statements, actual results may	3
vary materially; Amgen disclaims any duty to update.

OUR PIPELINE SEEKS TO ADDRESS SEVERAL UNMET MEDICAL NEEDS

OncologyInflammation

LUMAKRAS™ for non-small-cell lung cancer and other solid tumors

• Approved in US for treatment of KRAS-G12C mutated advanced NSCLC
• Recent data supports initiation of Phase 3 trial of LUMAKRAS + Vectibix in 3L+ CRC
• Other combination trials ongoing Bemarituzumab* for gastric cancer
• Acquired as part of Five Prime Therapeutics

BiTE® molecules

• AMG 160 (PSMA) in castrate resistant prostate cancer
• AMG 757 (DLL3) in advanced small cell lung cancer

Tezepelumab for severe asthma

• Received priority review from the FDA KHK4083 for atopic dermatitis
• Recently announced collaboration with Kyowa- Kirin to develop and commercialize

Phase 2 programs for lupus and celiac disease

• AMG 714 for celiac disease
• Rozibafusp Alfa and Efavaleukin Alfa for SLE

Cardiovascular

Olpasiran for atherosclerosis

*Acquired 4/16/2021

Provided September 22, 2021, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update.

KRAS G12C = Kirsten rat sarcoma viral oncogene homolog with G12C mutation; NSCLC = non-small cell lung cancer; BiTE® = bispecific T-cell engager; PSMA = prostate-specific membrane antigen; DLL3 = delta-like ligand 3; SLE = systemic lupus erythematosus

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OUR GROWTH PRODUCTS ARE GENERATING STRONG VOLUME GROWTH

We anticipate U.S. approval of Otezla for mild-to-moderate psoriasis this year

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