Slide 1: 1st Quarter 2026 Results
1st Quarter 2026 Results Johnson & Johnson had a strong start to 2026 and is Worldwide Innovative Medicine sales Worldwide MedTech sales delivering on its promise for a f erated thiand Innovative Medicine worldwide reported sales increased MedTech worldwide reported sales ental Seah spot patel 11.2%
Slide 2: 1st Quarter 2026 Earnings Call
1St Quarter 2026 Earnings Call April 14, 2026 Johnson&Johnson
Slide 3: Cautionary note on Forward-looking statements
Cautionary note on Forward-looking statements This presentation contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things: future operating and financial performance, product development, and market position and business st
Slide 4: Strategic partnerships, collaborations & licensing arrangements
Strategic partnerships, collaborations & licensing arrangements During the course of this presentation, we will discuss a number of products and compounds developed in collaboration with strategic partners or licensed from other companies. The following is an acknowledgement of those relationships:
Slide 5: Agenda
Agenda 1 CEO Remarks 2 Sales performance and earnings review 3 Capital allocation and guidance update 4 Q&A Joaquin Duato Jennifer Taubert Tim Schmid Chairman and Executive Vice President, Executive Vice President, Chief Executive Officer Worldwide Chairman, Worldwide Chairman, Innovative Medicine M
Slide 6: Joaquin Duato
Joaquin Duato Chairman and Chief Executive Officer
Slide 7: Q1 Earnings Summary
Q1 Earnings Summary Six key businesses driving growth operational sales growth 1,2 1 Non-GAAP measure; excludes the impact of translational currency; see reconciliation schedules on the Investor Relations section of the company's website 7 2 Includes an approximate (540) basis point headwind from ST
Slide 8: Innovative Medicine: 7.4% operational sales growth
Innovative Medicine: 7.4% operational sales growth 1,2 Oncology Immunology Neuroscience 1 Non-GAAP measure; excludes the impact of translational currency; see reconciliation schedules on the Investor Relations section of the company's website 2 Includes an approximate (920) basis point headwind from
Slide 9: ICOTYDE U.S. FDA approval brings new option for first-line systemic treatment of plaque psoriasis
ICOTYDE U.S. FDA approval brings new option for first-line systemic treatment of plaque psoriasis First and only IL-23R targeted oral peptide to deliver complete skin clearance and favorable safety profile in a once-daily pill Immunology Preferred first line systemic treatment for patients 12 and ol
Slide 10: Innovative Medicine: 7.4% operational sales growth
Innovative Medicine: 7.4% operational sales growth 1,2 Oncology Immunology Neuroscience 1 Non-GAAP measure; excludes the impact of translational currency; see reconciliation schedules on the Investor Relations section of the company's website 2 Includes an approximate (920) basis point headwind from
Slide 11: MedTech: 4.6% operational sales growth
MedTech: 4.6% operational sales growth 1 Cardiovascular Surgery Vision ACUVUE® OASYS 1-Day Family VARIPULSE Platform Dual Energy THERMOCOOL SMARTTOUCH SF Catheter OTTAVA ETHICON 4000 MONARCH Robotic Surgical Stapler Platform Surgical System Shockwave Intravascular Impella® Heart OMNYPULSE Lithotrips
Slide 12: Note: related to sales; excludes the impact of translational currency
Note: related to sales; excludes the impact of translational currency 12
Slide 13: Darren Snellgrove
Darren Snellgrove Vice President, Investor Relations
Slide 14: 1st Quarter 2026 sales
1st Quarter 2026 sales % Change Dollars in billions Regional sales results Q1 2026 Q1 2025 Reported Operational1 U.S. $13.3 $12.3 8.3% 8.3% Europe 5.8 5.1 14.5 2.7 Western Hemisphere 1.3 1.2 10.8 2.5 (ex U.S.) Asia-Pacific, Africa 3.6 3.3 8.5 6.1 International 10.7 9.6 11.9 3.9 Worldwide (WW) $24.1
Slide 15: 1st Quarter 2026 financial highlights
1st Quarter 2026 financial highlights Dollars in billions, except EPS Reported %; Operational %1 Sales GAAP earnings GAAP EPS $24.1 $11.0 $21.9 $4.54 $5.2 $2.14 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 9.9%; 6.4%1 (52.4)% (52.9)% Adjusted earnings2 Adjusted EPS2 $6.6 $6.7 $2.70 $2.77 Q1 2026
Slide 16: Innovative Medicine highlights – 1st quarter 2026
Innovative Medicine highlights – 1st quarter 2026 Strong operational growth1 of 7.4% driven primarily by Oncology and Neuroscience Stelara impacted results1 by ~(920) basis points Key drivers of operational performance1 Reported: WW 11.2%, U.S. 9.6%, Int’l 13.4% • DARZALEX increase primarily driven
Slide 17: MedTech highlights – 1st quarter 2026
MedTech highlights – 1st quarter 2026 Solid operational growth1 of 4.6% due to commercial execution and innovation Key drivers of operational performance1 Reported: WW 7.7%, U.S. 5.9%, Int’l 9.7% • Electrophysiology: Increase driven by procedure growth, commercial execution, new Operational1: WW 4.6
Slide 18: Condensed consolidated statement of earnings
Condensed consolidated statement of earnings 1st Quarter 2026 2026 2025 % Increase (Unaudited; Dollar and shares in millions except per share figures) Amount % to Sales Amount % to Sales (Decrease) Sales to customers $24,062 100.0 $21,893 100.0 9.9 Cost of products sold 8,106 33.7 7,357 33.6 10.2 Gr
Slide 19: Adjusted earnings before provision for taxes on income by segment
Adjusted earnings before provision for taxes on income by segment 1st Quarter 2026 (Unaudited; Dollar in millions) 2026 2025 % Innovative Medicine Amount % to Sales Amount % to Sales Increase (Decrease) Sales to customers $15,426 100.0 $13,873 100.0 11.2 Cost of products sold 3,617 23.4 3,371 24.3 7
Slide 20: Joseph J. Wolk
Joseph J. Wolk Executive Vice President, Chief Financial Officer
Slide 21: Capital allocation strategy
Capital allocation strategy Dollars in billions Q1 2026 Cash and marketable $22.1 securities Capital allocation Higher Debt ($55.0) priority Organic growth business needs Net debt ($32.9) Free cash flow1,2 ~$1.5 Free cash flow1 Note: Values may be rounded Q1 2026: Competitive dividends $3.5B investe
Slide 22: 2026 P&L guidance
2026 P&L guidance Operational2 sales guidance of 6.4% and adjusted operational EPS2,4 at 5.7% (midpoints) April 2026 January 2026 Comments Adjusted operational sales1,2 5.6% - 6.6% 5.4% - 6.4% Increasing midpoint to 6.1% $99.7B - $100.7B $99.5B - $100.5B Operational sales2 Increasing midpoint by $0.
Slide 23: Phasing Considerations
Phasing Considerations Anticipate fairly consistent operational1 sales growth in the first and second half; 53rd week impacts the second half Innovative • Expect more pronounced impact from newly launched products as the year progresses Anticipate generic competition for OPSUMIT (second half in U.S.
Slide 24: Anticipated 2026 milestones driving long-term value creation
Anticipated 2026 milestones driving long-term value creation 1 Innovative Medicine MedTech ICOTYDE in PsO OTTAVA TECVAYLI + DARZALEX in RRMM ETHIZIA TREMFYA in PsA SD STSF Dual Energy Catheter TECVAYLI in RRMM C2 Aero Catheters INLEXZO in HR NMIBC TECNIS PureSee IOL nipocalimab in WAIHA and SLE ATTU
Slide 25: Enterprise Business Review
Save the Date Save the Date Enterprise Business Review Tuesday, December 8, 2026 Oncology Immunology Neuroscience Surgery Cardiovascular Vision Innovative MedTech Medicine 25
Slide 26: Q&A
Q&A Joaquin Duato Jennifer Taubert Tim Schmid Chairman and Executive Vice President, Executive Vice President, Chief Executive Officer Worldwide Chairman, Worldwide Chairman, Innovative Medicine MedTech Joseph J. Wolk John Reed Darren Snellgrove Executive Vice President, Executive Vice President, Vi
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Slide 28: Johnson & Johnson Innovative Medicine Pipeline Key Events in 2026
Johnson & Johnson Innovative Medicine Pipeline Key Events in 2026* POTENTIAL APPROVALS US/EU PLANNED SUBMISSIONS US/EU POTENTIAL CLINICAL DATA PRESENTATIONS¹ Phase III Phase I/ II US TREMFYA (guselkumab) P US nipocalimab US ERLEADA (apalutamide) P ICOTYDE (icotrokinra) ERLEADA (apalutamide) JNJ-4804