Baxter International Inc. · NYSE:BAX

Baxter International — Investor Presentation (August 2024)

10 slides from Baxter International's investor presentation, Aug 13, 2024

1. Slide 1: Baxter Investor Announcement

   BAXTER INVESTOR ANNOUNCEMENT Au g u s t 1 3 , 2 0 24 1

2. Slide 2: Forward-Looking Statements

   FO RWA R D - LO O K I N G S TAT E M E N T S This presentation includes forward-looking statements concerning the company’s financial results (including select longer-term financial forecasts for Baxter’s remaining business following completion of the pending divestiture of the company’s Kidney Care

3. Slide 3: New Baxter: A Simplified, More Focused Company Better Positioned to Invest for Growth and Innovation

   NEW BAXTER: A SIMPLIFIED, MORE FOCUSED COMPANY BETTER POSITIONED TO INVEST FOR GROWTH AND INNOVATION1  Key milestones achieved in our ongoing strategic transformation designed to create a more streamlined, agile company focused on enhancing value  Sale of Kidney Care followed robust process, provi

4. Slide 4: New Baxter: Redefining Healthcare Delivery in Pursuit of Our Mission to Save and Sustain Lives

   NEW BAXTER: REDEFINING HEALTHCARE DELIVERY IN PURSUIT OF OUR MISSION TO SAVE AND SUSTAIN LIVES  An essential healthcare partner with an unmatched portfolio of market-leading devices, medicines and technologies  Focused on customer-inspired innovation in key care settings where Baxter believes it i

5. Slide 5: New Baxter: Financial Objectives

   NEW BAXTER: FINANCIAL OBJECTIVES  Targeting 4% - 5% operational sales growth annually1  Driving sales growth faster than market through innovation and market expansion  Pursuing organic and tuck-in, inorganic investments to enhance growth profile and improve weighted average market growth rate ov

6. Slide 6: New Baxter: Financial Objectives

   NEW BAXTER: FINANCIAL OBJECTIVES  Prioritizing capital allocation to drive incremental value  Focused on deleveraging to reach investment-grade target of below 3.0X by the end of 2025  Targeting ~80% Free Cash Flow Conversion driven by anticipated improved operating results and working capital en

7. Slide 7: New Baxter: Focused on Value Creation for All Stakeholders

   NEW BAXTER: FOCUSED ON VALUE CREATION FOR ALL STAKEHOLDERS  Increased flexibility to allocate capital to higher-return businesses to enhance innovation and accelerate growth  Committed to paying a dividend; rate to be realigned to new financial profile starting with January 2025 dividend payment 

8. Slide 8: Non-GAAP Reconciliations

   NON-GAAP RECONCILIATIONS 8

9. Slide 9: Non-GAAP Financial Measures

   NON-GAAP FINANCIAL MEASURES This presentation contains certain forward-looking financial measures that are not calculated in accordance with U.S. GAAP (Generally Accepted Accounting Principles). The forward-looking non-GAAP financial measures include targeted annual operational sales growth, targete

10. Slide 10: Baxter Investor Announcement

    BAXTER INVESTOR ANNOUNCEMENT Au g u s t 1 3 , 2 0 24 10

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