Pfizer : 2020 ESG Report

ENVIRONMENTAL, SOCIAL & GOVERNANCE REPORT 2020

Introduction

Bold Moves

Environment

Social

Governance

Performance

Appendix

PFIZER'S ANNUAL ESG PERFORMANCE

In this report

Introduction

1. A letter from our Chairman & CEO

1. Highlights 2020
2. Our approach to ESG

1. Priority ESG issues

Bold Moves

1. Unleash the power of our people
2. Deliver first-in-class science
3. Transform our go-to-market model
4. Win the digital race in pharma
5. Lead the conversation

Environment

16 Overview

Social

20 Overview

Governance

25 Overview

Performance

1. Environment
2. Social

What this report covers​

This report provides information on our ESG progress​in the year from January 1, 2020, to December 31, 2020; it includes an overview of performance, as well as data​on 28 key performance indicators.

For more information please see About this Report on page 49

This report represents a new chapter in Pfizer's commitment to enhance stakeholder awareness of our priority Environmental, Social and Governance (ESG) issues and disclose how our performance on non-financial metrics is contributing to long-term value creation and a sustainable, responsible and patient-centric business model.

The disclosures contained in this report underscore our commitment to delivering breakthroughs that change patients' lives through ethical decision-making and our core values - Equity, Courage, Excellence and Joy.

33 Governance

Appendix

1. GRI Index

1. SASB Index

1. TCFD

1. About this report
2. Independent accountants' report

Where to find more information

• 2019 Annual Review
• 2020 Annual Documents
• • 2020 Annual Review
  • 2020 Annual Report on Form 10-K
  • 2021 Proxy Statement
• COVID-19 Hub

1 Environmental, Social & Governance Report 2020

Introduction

Bold Moves

Environment

Social

Governance

Performance

Appendix

A LETTER FROM OUR CHAIRMAN & CEO

1st COVID-19 vaccine

granted Emergency Use Authorization (EUA) in the U.S.

93%

of Pfizer colleagues surveyed in 2020 agreed that their daily work contributes to our purpose

In a year unlike any other, Pfizer's purpose-driven commitment

to patients and the broader needs of society has never been more urgent. In the face of simultaneous health, economic and cultural crises, we took bold steps in 2020 to address the needs of all stakeholders, including shareholders.

Guided by our purpose - Breakthroughs that change patients' lives - we are applying our core capabilities and values to help deliver courageous solutions. We know Pfizer alone cannot combat the COVID-19 pandemic, systemic racial inequalities or climate change. Because we are a purpose and science-driven company, we are working with public and private partners to overcome current challenges and prepare

for those to come.

For 171 years, our deep passion for science and dedication to patients have been foundational to Pfizer. So too have been our commitments to nurturing a diverse, inclusive and positive workplace to which all colleagues can bring their best selves; improving equitable access to our vaccines and medicines; and minimizing negative impact of our work on the environment.

It was not a surprise, therefore, to see that 93% of Pfizer colleagues surveyed in 2020 agreed that their daily work contributes to our purpose, and 95% feel proud to work for our company. And with purpose fueling their activities, colleagues found the courage to make bolder commitments to help overcome the persistent gaps in equity we are facing as a society.

Integrating ESG into our core business We are on a journey to more intentionally connect our purpose with our environmental, social and governance (ESG) efforts in order to better understand and address the needs of our patients, colleagues, partners, shareholders and communities.

Through our Purpose Blueprint, Pfizer's business strategy is inextricably linked to our ESG efforts. To take these efforts a step further,

we are integrating ESG into our core business and amplifying our commitments. Globally, stakeholders increasingly expect corporations to step up and address threats to social, economic and environmental welfare. We are meeting those expectations.

Truly integrating ESG also means focusing on the needs and welfare of our colleagues. Addressing the health, safety and mental well-being of our colleagues became even more critical in the face of the pandemic. Pfizer quickly responded to employees' needs while maintaining business resiliency across all therapeutic areas and functions, and while advancing the research, development and manufacturing of a COVID-19 vaccine.

Amplifying our ESG commitments

Pfizer has consistently supported and prioritized its ESG-related programs and commitments. 2020 marked an important inflection point when it comes to the role of corporations in society, and I am very proud of the ways in which Pfizer stepped up to lead.

Pfizer has consistently supported and prioritized its ESG-related programs and commitments. 2020 marked an important inflection point when it comes to the role of corporations in society, and I am very proud of the ways in which Pfizer stepped up to lead.

Dr. Albert Bourla

Pfizer Chairman & CEO

2 Environmental, Social & Governance Report 2020

Introduction

Bold Moves

Environment

Social

Governance

Performance

Appendix

A LETTER FROM OUR CHAIRMAN & CEO CONTINUED

420+m

patients treated globally

met 2020 climate goals and set carbon neutral target for 2030

Our faith in social and cultural norms, as well as our personal health and safety, were challenged greatly in 2020 and may continue to be in the years to come. In such an environment, we believe companies like Pfizer that abide by core values such as equity and courage and make ethical decisions will have a competitive advantage.

We will attract and retain the best and the brightest colleagues. We will endure today's crisis and be better prepared for the next.

I am proud of what we accomplished in 2020. Specifically:

• Pfizer progressed our COVID-19 vaccination trials at the speed of science while remaining grounded in the importance of public trust and our commitment to equitable distribution. We will work with the COVAX facility to facilitate equitable access to our COVID vaccine to eligible countries, with support from partners at the global and local levels.
• We were the first biopharmaceutical company to issue a Sustainability Bond ($1 billion+), the proceeds of which are earmarked for environmental and social initiatives. Proceeds are being allocated to enhance our ability to reach more women and children in low-income countries, address antimicrobial resistance, strengthen health care infrastructure and help manage our environmental impact.
• We doubled down on our Infectious Disease (I.D.) Impact Initiative, Pfizer's long-term global health commitment to redefine the way we fight infectious disease and help protect underserved people in the U.S. and around the world from these deadly threats.
• We set concrete goals to address systemic racism and gender equity challenges by reviewing and augmenting our plans to increase diversity and opportunity parity by 2025, particularly focusing on increasing female and U.S. minority representation at leadership levels.

• Pfizer has long-recognized the societal impacts from environmental issues such as climate change. We successfully achieved our 2020 environmental goals and made a commitment to become carbon neutral across our company's operations by 2030. The Science Based Targets Initiative (SBTi) has commended Pfizer's 2030 Scope 1 & 2 greenhouse gas (GHG) emission goal as an ambitious 1.5°C-aligned target.
• Our improvement on the Access to Medicine Index to fourth place in 2021 from 11th
  in 2018 underscores our commitment to access and equity in health care. For example, through our ex-U.S. patient assistance programs, we were able to reach nearly 700,000 patients in 2020, some of whom may not have otherwise been reached through traditional commercial channels. In total,
  we reached more than 58 million patients through access and affordability programs.

Every day, more than 78,0001 Pfizer colleagues work toward a future where disease doesn't win, but science does. A future where we unite transformational technology and cutting-edge science to fulfill our purpose - Breakthroughs that change patients' lives. And a future where these breakthrough treatments and therapies are accessible to all.

Even with the enormous focus and significant resources we have dedicated to addressing the COVID-19 pandemic for people around the world, our colleagues remain steadfast in working to develop breakthroughs across all of our therapeutic areas and helping to strengthen the underlying health infrastructure needed to address the full spectrum of health issues - from prevention to primary and critical care.

1. Headcount as of Dec. 31, 2020.

Looking ahead

Uncertainty and instability remain the only constants as we enter 2021. In the face of these challenges, our belief that Science Will Win™, and our purpose-driven approach, will help us lead the battle against COVID-19 and any variants of the virus that may arise. We will support and enable our colleagues as they balance competing responsibilities at home and at work. And we will work to ensure we do our part to protect our environment for generations to come.

We are optimistic about the future and our ability to favorably impact our society and environment through our business and our philanthropic efforts. We aim to help stakeholders achieve the UN Sustainable Development Goals, a task all the more critical given the global development setbacks from COVID-19 over the past year.

I have never been prouder of the passion and dedication of our employees to delivering on our purpose. Because of them, Pfizer is positioned not only to continue advancing breakthroughs to combat COVID-19 and other priority diseases, but also to help lead the conversation about the value of science, the importance of ensuring affordable and equitable access to medicines and vaccines, and the obligation to do all

of these things while acting with integrity.

Dr. Albert Bourla

Chairman & Chief Executive Officer

3 Environmental, Social & Governance Report 2020

Introduction

Bold Moves

Environment

Social

Governance

Performance

Appendix

HIGHLIGHTS

$1.25bn

committed to social and environmental initiatives through our landmark Sustainability Bond

$40m

donated (2020-2021) by Pfizer, Inc. and The Pfizer Foundation1 in medical and charitable cash grants and medicines to more than 165 partners to support COVID-19 response

1. The Pfizer Foundation is a charitable organization established by Pfizer Inc. It is a separate legal entity from Pfizer Inc. with distinct legal restrictions.

4 Environmental, Social & Governance Report 2020

99.8%

parity for U.S. minority versus non-minority pay levels

38%

female representation of VP+ globally

58+m

patients reached through our access and affordability programs for medicines and vaccines

4th

in 2021 Access to Medicine Index (ATMI) ranking

Successfully achieved our 2020 environment goals:

compared to 2012 baseline; including Upjohn data

33%

reduction in direct greenhouse gas emissions; exceeded 20% reduction goal

19%

reduction in water withdrawal; exceeded 5% reduction goal

15%

reduction in waste disposed; met 15% reduction goal

7of 12

members of Board of Directors are diverse based on gender or ethnicity