Pfizer Declares First-Quarter 2020 Dividend and Announces Upcoming Investor Day to Highlight Strength of Innovative R&D Pipeline

Pfizer Inc. (NYSE: PFE) announced today that its board of directors declared a 38-cent per share first-quarter 2020 dividend on the company's common stock, payable March 6, 2020 to holders of the Common Stock of record at the close of business on January 31, 2020. Pfizer increased the dividend over the fourth-quarter 2019 dividend by approximately 6 percent to 38 cents from 36 cents per share. The first-quarter 2020 cash dividend will be the 325^th consecutive quarterly dividend paid by Pfizer.

"The dividend increase is a testament to our commitment to returning capital to shareholders and reflects our continued confidence in the business and in our pipeline," stated Dr. Albert Bourla, Pfizer chief executive officer. "It also reinforces that our focus on creating meaningful value for patients benefits all our stakeholders."

Pfizer also announced plans to host an Investor Day on Tuesday, March 31, 2020, starting at 9:00 a.m. EDT, at its global headquarters in New York, NY. Pfizer business executives and scientific leadership will provide updates on the company's progress in advancing its R&D pipeline, specifically on product candidates with blockbuster potential that are expected to launch by 2025.

Dr. Bourla continued, "We look forward to highlighting the range of therapeutic areas and modalities in our R&D pipeline, demonstrating the growth momentum in our Biopharma businesses and providing an opportunity to meet scientific and commercial leadership in each of our core therapeutic areas. We are excited to share key aspects of our strategy to deliver sustainable, long-term growth by developing transformational medicines and vaccines that address some of the world's greatest unmet needs in healthcare."

Invitations for in-person attendance will be distributed in coming weeks. A live webcast, including audio, video and presentation slides, will be accessible on the Pfizer's Investor Relations website (www.pfizer.com/investors) at the time of the meeting. Interested parties unable to attend in-person or watch the live webcast will be able to view and listen to an archived copy of the webcast, which will be available on Pfizer's Investor Relations website following the conclusion of the event.

Pfizer Inc.: Breakthroughs that change patients' lives

At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative medicines and vaccines. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as one of the world's premier innovative biopharmaceutical companies, we collaborate with health care providers, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, we have worked to make a difference for all who rely on us. We routinely post information that may be important to investors on our website at www.pfizer.com. In addition, to learn more, please visit us on www.pfizer.com and follow us on Twitter at @Pfizer and @Pfizer_News, LinkedIn, YouTube and like us on Facebook at Facebook.com/Pfizer.

DISCLOSURE NOTICE: The information contained in this release is as of December 16, 2019. The forward-looking statements in the Investor Day webcast on March 31, 2020 speak only as of the original date of the webcast. The Company assumes no obligation to update forward-looking statements contained in this release or the webcast as a result of new information or future events or developments.

This release contains forward-looking information about the Company's pipeline, growth opportunities or prospects and shareholder returns that involves substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. The Investor Day webcast may include forward-looking statements about, among other things, our anticipated future operating and financial performance, business plans and prospects, expectations for our product pipeline, in-line products and product candidates, strategic reviews, capital allocation objectives, business-development plans, benefits anticipated from the reorganization of our commercial operations in 2019, plans for and prospects of our acquisitions and other business development activities, including our proposed transaction with Mylan N.V. (Mylan) to combine Upjohn and Mylan to create a new global pharmaceutical company, our acquisition of Array BioPharma Inc. and our transaction with GSK that combined our respective consumer healthcare businesses into a new consumer healthcare joint venture, our ability to successfully capitalize on growth opportunities or prospects, manufacturing and product supply and plans relating to share repurchases and dividends, among other things, that are subject to substantial risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Risks and uncertainties include, among other things, the uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for our clinical trials, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; the risk that clinical trial data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from our clinical studies; whether and when any drug applications may be filed for any of our product candidates in any jurisdiction; whether and when regulatory authorities in any jurisdictions where any applications are pending or may be submitted for our product candidates may approve any such applications, which will depend on myriad factors, including making a determination as to whether the product's benefits outweigh its known risks and determination of the product's efficacy, and, if approved, whether they will be commercially successful; decisions by regulatory authorities impacting labeling, manufacturing processes, safety and/or other matters that could affect the availability or commercial potential of our product candidates; the uncertainties inherent in business and financial planning, including, without limitation, risks related to Pfizer's ? or any of our joint venture or acquisition counterparties' ? business and prospects, adverse developments in Pfizer's markets, or adverse developments in the U.S. or global capital markets, credit markets, regulatory environment or economies generally; and competitive developments.

A further description of risks and uncertainties can be found in Pfizer's Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and in its subsequent reports on Form 10-Q, including in the sections thereof captioned "Risk Factors" and "Forward-Looking Information and Factors That May Affect Future Results," as well as in its subsequent reports on Form 8-K, all of which are filed with the U.S. Securities and Exchange Commission and available at www.sec.gov and www.pfizer.com.