(1) Program/commercial transaction defined as a Pfizer investment or dedicated contract of over $250,000 with a national government or procurement agency, MLO, NGO, private institution or aid agency. Represents multi-country initiatives only and does not include numerous local initiatives to address access.

(2) As defined by the World Health Organization. Burdens of illness not addressed include road traffic accidents, prematurity and low birth weight, and self-inflicted injuries.

(3) Represents minimum number of emerging markets with pricing tailored to different patient segments (for at least one product), allowing access for more patients.

(4) Indicators for water and waste performance have been aligned to our environmental sustainability public goals. Data are baseline adjusted, reported absolute, using reporting boundaries per the WRI GHG Protocol. The 2013 GHG data was independently verified to the limited assurance level. The overall recycling rate of our waste generated in 2014 was 30%, and the quantity of hazardous waste generated increased 1% and non-hazardous waste decreased 14% from 2013. Expanded environmental reporting will be posted on www.pfizer.com later this year.

(1) Please refer to Pfizer's 2014 Annual Report on Form 10-K, including the sections captioned Risk Factors and Forward-Looking Information That May Affect Future Results, for a description of the substantial risks and uncertainties related to the forward-looking statements, including our 2015 Financial Guidance, included in this Annual Review.

(2) Adjusted Income and its components and Adjusted Diluted Earnings Per Share (EPS) are defined as reported U.S. generally accepted accounting principles (U.S. GAAP) net income⁽⁵⁾ and its components and reported diluted EPS⁽⁵⁾ excluding purchase accounting adjustments, acquisition-related costs, discontinued operations and certain significant items. Adjusted Revenues, Adjusted Cost of Sales, Adjusted Selling, Informational and Administrative (SI&A), Adjusted Research and Development (R&D) expenses and Adjusted Other (Income)/Deductions are income statement line items prepared on the same basis and, therefore, components of the overall adjusted income measure. As described under the Adjusted Income section in the Management's Discussion and Analysis of Financial Condition and Results of Operations section of our Annual Report on Form 10-K for the year ended December 31, 2014, management uses adjusted income, among other factors, to set performance goals and to measure the performance of the overall company. Reconciliations of certain U.S. GAAP reported to Non-GAAP adjusted information for 2014, as well as reconciliations for full-year 2015 guidance for adjusted income and adjusted diluted EPS to full-year 2015 guidance for reported net income⁽⁵⁾ and reported diluted EPS⁽⁵⁾, are provided in the Management's Discussion and Analysis of Financial Condition and Results of Operations section of our Annual Report on Form 10-K for the year ended December 31, 2014. The Adjusted income and its components and Adjusted diluted EPS measures are not, and should not be viewed as, substitutes for U.S. GAAP net income and its components and diluted EPS. Despite the importance of these measures to management in goal setting and performance measurement, adjusted income and its components and adjusted diluted EPS are Non-GAAP financial measures that have no standardized meaning prescribed by U.S. GAAP and, therefore, have limits in their usefulness to investors. Because of the non-standardized definitions, adjusted income and its components and adjusted diluted EPS (unlike U.S. GAAP net income and its components and diluted EPS) may not be comparable to the calculation of similar measures of other companies. Adjusted income and its components and adjusted diluted EPS are presented solely to permit investors to more fully understand how management assesses performance.

(3) At exchange rates that reflected a blend of the actual exchange rates in effect through September 28, 2014 and the mid-October 2014 exchange rates for the remainder of the year. Our 2014 guidance did not assume the completion of any business development transactions not completed as of September 28, 2014, including any one-time upfront payments associated with such transactions, and excluded the potential effects of the resolution of litigation-related matters not substantially resolved as of September 28, 2014. Revenues and cost of sales from the transitional manufacturing and supply agreements with Zoetis were excluded from the applicable Adjusted components of the financial guidance. Reported and Adjusted Diluted EPS⁽²⁾ guidance assumed diluted weighted-average shares outstanding of ~6.4 billion shares. Guidance for the effective tax rate on adjusted income⁽²⁾ did not assume renewal of the U.S. research and development tax credit. Reported Diluted EPS⁽⁵⁾ guidance was updated from $1.50 - $1.59 to $1.40 - $1.49 to reflect the upfront payment to Merck KGaA for the collaboration announced on November 17, 2014.

(4) The 2015 financial guidance reflects the following:

• Our guidance for reported revenues⁽⁵⁾ reflects the anticipated negative impact of $3.5 billion due to recent and expected product losses of exclusivity, as well as $2.8 billion as a result of recent adverse changes in essentially all foreign exchange rates relative to the U.S. dollar compared to foreign exchange rates from 2014, partially offset by anticipated revenue growth from certain other products.

• Guidance for adjusted R&D expenses⁽²⁾ reflects the $295 million upfront payment made to OPKO Health, Inc. (OPKO) in February 2015.

• Our reported⁽⁵⁾ and adjusted diluted EPS⁽²⁾ guidance reflects: (i) a $0.17 unfavorable impact as a result of adverse changes in foreign exchange rates from 2014; (ii) a $0.03 reduction for the upfront payment associated with the transaction with OPKO; (iii) planned share repurchases totaling approximately $6 billion in 2015, including $1 billion of our shares repurchased through February 27, 2015 and our $5 billion accelerated share repurchase program announced on February 9, 2015; and (iv) assumed diluted weighted-average shares outstanding of approximately 6.2 billion shares, which is inclusive of these share repurchase transactions.

• Does not assume the completion of any business-development transactions not completed as of December 31, 2014, including any one-time upfront payments associated with such transactions, except for the $295 million upfront payment made to OPKO in February 2015. Our 2015 financial guidance does not reflect any impact from our proposed acquisition of Hospira, Inc. We expect that transaction to close during the second half of 2015.

• Excludes the potential effects of the resolution of litigation-related matters.

• Exchange rates assumed are as of mid-January 2015. Excludes the impact of a potential devaluation of the Venezuelan bolivar or any other currency.

• Guidance for the effective tax rate on adjusted income⁽²⁾ does not assume renewal of the U.S. research and development (R&D) tax credit. The renewal of the U.S. R&D tax credit is not anticipated to have a material impact on the effective tax rate on adjusted income.

(5) Reported Net Income in accordance with U.S. GAAP is defined as net income attributable to Pfizer Inc. in accordance with U.S. GAAP and Reported Diluted EPS is defined as reported diluted EPS attributable to Pfizer Inc. common shareholders in accordance with U.S. GAAP.