Cardinal Health : 41st Annual J.P. Morgan Healthcare Conference

Cardinal Health Inc.

41st Annual JP Morgan Conference

January 9, 2023

Jason Hollar

Chief Executive Officer

© 2023 Cardinal Health. All Rights Reserved.

Forward-looking statements and GAAP reconciliation

Cautions Concerning Forward-Looking Statements

This presentation contains forward-looking statements addressing expectations, prospects, estimates and other matters that are dependent upon future events or developments. These statements may be identified by words such as "expect," "anticipate," "intend," "plan," "believe," "will," "should," "could," "would," "project," "continue," "likely," and similar expressions, and include statements reflecting future results or guidance, statements of outlook and various accruals and estimates. These matters are subject to risks and uncertainties that could cause actual results to differ materially from those projected, anticipated or implied. These risks and uncertainties include risks arising from ongoing inflationary pressures and supply chain constraints, including the risk that our plans to mitigate such effects may not be as successful as we anticipate and the possibility that costs to source certain personal protective or other equipment, increased costs for transportation, shipping, freight and commodities, reduced price or demand for certain products may result in additional inventory reserves or disruptions and may negatively impact our ability to meet our long-term guidance; the possibility that our Medical unit goodwill could be further impaired due to the increase in global interest rates or possible unfavorable changes in the U.S. statutory tax rate; competitive pressures in Cardinal Health's various lines of business; the performance of our generics program, including the amount or rate of generic deflation and our ability to offset generic deflation and maintain other financial and strategic benefits through our generic sourcing venture or other components of our generics programs; ongoing risks associated with the distribution of opioids, including the financial impact associated with the settlements with governmental authorities, the risk that challenges to our plans to take tax deductions for opioid-related losses could adversely impact our financial results; risks arising from the Department of Justice investigation which we believe concerns our anti-diversion program and risks associated with the injunctive relief requirements under the national settlement, including the risk that we may incur higher costs or operational challenges in the implementation and maintenance of the required changes; risks associated with the manufacture and sourcing of certain products, including risks related to our ability and the ability of third-party manufacturers to import or export certain products or component parts and to comply with applicable regulations; our ability to manage uncertainties associated with the pricing of branded pharmaceuticals; and risks associated with our cost savings initiatives or other business initiatives, such as the Medical Improvement Plan, including the possibility that they could fail to achieve the intended results. Cardinal Health is subject to additional risks and uncertainties described in Cardinal Health's Form 10-K, Form 10-Q and Form 8-K reports and exhibits to those reports. This presentation reflects management's views as of January 9, 2023. Except to the extent required by applicable law, Cardinal Health undertakes no obligation to update or revise any forward- looking statement. Forward-looking statements are aspirational and not guarantees or promises that goals, targets or projections will be met, and no assurance can be given that any commitment, expectation, initiative or plan in this report can or will be achieved or completed. Cardinal Health provides definitions and reconciliations of non-GAAP financial measures and their most directly comparable GAAP financial measures at ir.cardinalhealth.com.

2 © 2023 Cardinal Health. All Rights Reserved.

Who we serve

We are a crucial link between the clinical and operational aspects of the healthcare ecosystem delivering end-to-end, customer-centricsolutions that advance healthcare and improve lives every day

Manufacturers	Providers	Health Systems	Payers	Pharmacies	Home
	+ Labs	+ Acute Care

3 © 2023 Cardinal Health. All Rights Reserved.

Positioned at forefront of key secular trends

Patient demographics

Specialty drug innovation

Site of care shifts

Technology advancements

Healthcare	Aging U.S. population	Scientific advancement	Care shifting to the	Increasing digitization
trend	and rising incidence of	and drug development	home and other	of healthcare and tech-
	chronic diseases	at unprecedented levels	non-acute settings	enabled supply chain
Cardinal Health	Increasing and/or resilient	Novel therapy types	Capabilities across care	Recent investments in
continuum (i.e. at-Home
positioning	demand for pharmaceutical,	requiring stringent logistics	technology enhancements
Solutions, ambulatory
medical, and home-health	(i.e., Specialty 3PL,	and continued optimization
	surgery centers, clinical
	products and services	Nuclear Theranostics)	of supply chain networks
	laboratories)

4 © 2023 Cardinal Health. All Rights Reserved.

Cardinal Health snapshot today

$181B

FY22 Revenue

Operating in more than

30

countries

Approximately

46,500

employees worldwide

5 © 2023 Cardinal Health. All Rights Reserved.

Pharmaceutical

FY22 Revenue: $165.5B

FY22 Segment Profit: $1.8B

Medical

FY22 Revenue: $15.9B

FY22 Segment Profit: $216M