Cardinal Health, Inc. · NYSE:CAH

Cardinal Health — Shareholder Meeting (November 2025)

14 slides from Cardinal Health's shareholder meeting presentation, Nov 5, 2025

1. Slide 1: Cardinal Health Annual Meeting of Shareholders

   Cardinal Health Annual Meeting of Shareholders November 5, 2025 © 2025 Cardinal Health. All Rights Reserved. 1 © 2025 Cardinal Health. All Rights Reserved.

2. Slide 2: Agenda

   Cardinal Health Annual Meeting of Shareholders Agenda I. Call to Order II. Matters to be Acted Upon o Proposal 1: Election of Directors o Proposal 2: Advisory vote to approve the compensation of our named executive officers o Proposal 3: Ratification of Ernst & Young LLP as independent auditor for 2

3. Slide 3: Management presentation from CEO Jason Hollar

   Management presentation from CEO Jason Hollar November 5, 2025 © 2025 Cardinal Health. All Rights Reserved. 3 © 2025 Cardinal Health. All Rights Reserved.

4. Slide 4: Cautions Concerning Forward-Looking Statements

   Cardinal Health Annual Meeting of Shareholders 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 identifie

5. Slide 5: Healthcare's crucial link: manufacturers and providers

   Cardinal Health Annual Meeting of Shareholders Manufacturers Providers and innovators and customers L T HCARE Biopharma E A ’ S innovators H Generic Rx Retail and grocery Mail order pharmacies pharmacies manufacturers Consumer health manufacturers Health systems Specialty physician CR offices Nuclea

6. Slide 6: Company snapshot

   Cardinal Health Annual Meeting of Shareholders Company snapshot $223B in FY25 revenue Revenue FY25 Segment profit Pharma & Specialty Pharma & Specialty 99%+ GMPD 92% 6% 78% of revenue generated in the U.S. Other GMPD $2.8B in FY25 operating earnings 2% 5% Approximately Other 18% 58,000 employees glo

7. Slide 7: Strategic priorities

   Cardinal Health Annual Meeting of Shareholders Strategic priorities Relentless focus on simplification Build upon the growth and resiliency Execute GMPD Accelerate other of Pharmaceutical and Improvement growth businesses Specialty Solutions by Plan initiatives expanding in Specialty and shareholder

8. Slide 8: Fiscal 2025 progress

   Cardinal Health Annual Meeting of Shareholders Fiscal 2025 progress Grew profits double-digits in Expanded in Specialty and all five operating segments accelerated our growth businesses Improved core execution with Completed four acquisitions1 improvements across key of high-quality assets in operat

9. Slide 9: Track record of execution and value creation

   Cardinal Health Annual Meeting of Shareholders Track record of execution and value creation FY25 Results Total Shareholder Return FY23 - FY251 280% Non-GAAP 230% +235% +9% Diluted EPS 180% 130% Non-GAAP +15% 80% Operating Earnings +70% 30% +9% 7/1/2022 7/1/2023 7/1/2024 Adj Free Cash Flow $2.5B -20%

10. Slide 10: Thank you and questions

    Thank you and questions 10 © 2025 Cardinal Health. All Rights Reserved.

11. Slide 11: Appendix

    Appendix 11 © 2025 Cardinal Health. All Rights Reserved.

12. Slide 12: Segment Information

    Cardinal Health, Inc. and Subsidiaries Segment Information Fourth Quarter Pharmaceutical and Specialty Solutions Global Medical Products and Distribution Other (in millions) 2025 2024 2025 2024 2025 2024 Revenue Amount $ 55,372 $ 55,608 $ 3,199 $ 3,109 $ 1,609 $ 1,172 Growth rate —% 13 % 3% 2% 37 %

13. Slide 13: GAAP / Non-GAAP Reconciliation

    Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation1 Net Earnings Gross Operating Earnings Provision Attributable Net Diluted 2 3 Margin SG&A Earnings Before for to Non- Earnings Effective EPS 3 Gross Growth Growth Operating Growth Income Income Controlling Net Growth Tax Diluted G

14. Slide 14: GAAP Cash Flow to Non-GAAP Adjusted Free Cash Flow

    Cardinal Health, Inc. and Subsidiaries GAAP / Non-GAAP Reconciliation - GAAP Cash Flow to Non-GAAP Adjusted Free Cash Flow Fiscal Year (in millions) 2025 2024 GAAP - Cash Flow Categories Net cash provided by operating activities $ 2,397 $ 3,762 Net cash used in investing activities (5,593) (1,849) N

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