Slide 1: Pfizer R&D Campus, Kendall Sq, Cambridge, MA
Pfizer R&D Campus, Kendall Sq, Cambridge, MA Internal Medicine Hub for Discovery & Development 1
Slide 2: Hosted by
Hosted by Chief Investor Chief Scientific Officer Chief Strategy and Chief Internal Relations Officer and Innovation Officer Medicine Officer President, R&D 2
Slide 3: Forward-looking information disclaimer
Our discussions during this conference call will include forward-looking information about, among other topics, Pfizer’s and progress of clinical trials and data read-outs from trials; the timing for the submission of applications for and receipt of proposed acquisition of Metsera, Inc. (“Metsera”),
Slide 4: Proposed transaction expected to close in 4Q 2025 and drive growth from late 2020s
Proposed transaction expected to close in 4Q 2025 and drive growth from late 2020s and beyond* ‡ ‡ Will provide any updates to Expect to fund primarily Remain committed to Not expected to Retain capacity for financial outlook in with available cash and funding & growing impact credit rating addition
Slide 5: Pfizer Internal Medicine pipeline
Small Molecules Biologics Vaccines Inhibitors, Degraders ADCs, Multispecifics, Conjugate, Subunit, & Activators & Other Biologics & mRNA Platforms Atirmociclib (CDK4i) GIPR Antagonist5 KAT6 Inhibitor1 C. difficile3 Ibuzatrelvir IL-4 x IL-13 x IL-336 MET-097i (Weekly)‡ Mevrometostat Lyme Disease4 MET
Slide 6: Pfizer pipeline including Metsera programs
Small Molecules Biologics Vaccines Inhibitors, Degraders ADCs, Multispecifics, Conjugate, Subunit, & Activators & Other Biologics & mRNA Platforms Atirmociclib (CDK4i) GIPR Antagonist5 KAT6 Inhibitor1 C. difficile3 Ibuzatrelvir IL-4 x IL-13 x IL-336 MET-097i (Weekly)‡ Mevrometostat Lyme Disease4 MET
Slide 7: Obesity opportunity aligned with Internal Medicine R&D strategy and expertise
Aligned with Internal Medicine R&D Obesity and associated 1 2 strategy and expertise conditions on track to become among the largest Significant primary care commercial pharmaceutical opportunities infrastructure / field force 2 Significant unmet medical PfizerForAll need remains Existing network of
Slide 8: Potential for best-in-class efficacy, differentiated tolerability
# Ϯ Potential for best-in-class efficacy1, differentiated tolerability Potential for best-in-class efficacy1, differentiated Ϯ tolerability, and more convenient dosing Ϯ Potential best-in-class profile, may enable MET-097i ‡ + MET-233i combo Ϯ Potential for category-leading efficacy, more convenient
Slide 9: Robust weight loss at low doses
Robust weight loss at Encouraging Gastrointestinal Potential for Monthly low doses Adverse Event Profiles Maintenance Dosing Potential for Fixed Dose Low API and Device Combinations Requirements *Pending closing of the acquisition, which is subject to the satisfaction of customary closing conditions
Slide 10: MET-097i is a fully biased ultra-long-acting next-generation GLP-1 receptor agonist
MET-097i is a fully biased ultra-long-acting next-generation GLP-1 receptor agonist 4 2 2 1.0 0 0 -2 -2 -4 -5.3 -4 -6 -6.1 -8 -6 -8.8 -10 -9.3 -10.3 -8 -12 1 8 15 22 29 36 43 50 57 64 71 78 85 -10 Study Day -12 Pooled Placebo (N = 20) 0.6 mg (N = 20) 0.8 mg (N = 20) -14 1.0 mg (N = 20) 1.2 mg (N = 2
Slide 11: MET-097i gastrointestinal adverse event profile by dose
Pooled Placebo 15 5 10 (n = 20) 0.6 mg 30 30 20 (n = 20) 0.8 mg 40 20 5 (n = 20) 1.0 mg 50 40 20 (n = 20) 1.2 mg 65 60 10 (n = 20) 0.4 / 0.8 / 1.2 mg 5 10 0 (n = 20) Ph: Phase; GI: Gastrointestinal; AE: Adverse event 11
Slide 12: Monthly dose after weekly doses well tolerated with continued weight loss
In Phase 2a trial, a monthly dose after 12 weekly doses was well tolerated with continued weight loss observed Mean (± SD) MET-097i (ng/mL) 0 Weight Change (%) Placebo-Adjusted -5 -10 -12.5 -15 -14.1 0.8 mg → 3.2 mg 1.2 mg → 4.8 mg5 1. Observed half-life defined as the time at which exposure reaches
Slide 13: MET-233i data demonstrate robust efficacy and placebo-like tolerability
Phase 1 data demonstrate robust efficacy and placebo-like tolerability at potential starting doses Pooled Placebo 0 12.5 12.5 (n = 8) Change in Body Weight (%) Placebo-Subtracted Mean 0.15 mg 12.5 12.5 0 (n = 8) 0.30 mg 25 0 0 (n = 8) 0.60 mg 75 37.5 12.5 (n = 8) 1.2 mg 100 37.5 0 (n = 8) *Dual amyl
Slide 14: MET-233i plasma concentration and half-life
MET-233i dose 2.4 mg Observed half-life3 1.2 mg 0.6 mg ~19 Days (measure of solubility) 1000 0.3 mg Concentration (ng/mL) 0.15 mg Absorbance Mean Plasma 100 10 * 1 0 7 14 19 21 28 Time (days) 1. Estimates reflect mean of available preliminary estimates across single-dose cohorts and is calculated as
Slide 15: -1.3 -1.4 -2.2 -2.3 -1.9 -3.3 -5.0 -4.9 ✓ ✓
-1.3 -1.4 -2.2 -2.3 -1.9 -3.3 -5.0 -4.9 ✓ ✓ 15
Slide 16: Comorbidities Across Multiple Organ Systems
Alzheimer’s disease Sleep apnea CV disease Asthma Hypertension Gastroesophageal reflux disease MASLD / MASH Multiple Type 2 cancers diabetes Comorbidities Chronic Across Multiple Osteoarthritis kidney Organ Systems Autoimmune disease Impacting >1B Lives disorders Globally1,2 1. American Medical Asso
Slide 17: Anticipated catalysts
*The closing of the acquisition is subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approvals and approval by Metsera shareholders; ‡Anticipated catalysts include data from Phase 2b VESPER-1 trial of MET-097i (weekly dosing), data from Phase 2
Slide 18: Hosted by
Hosted by Chief Investor Chief Scientific Officer Chief Strategy and Chief Internal Relations Officer and Innovation Officer Medicine Officer President, R&D 18