Viatris Inc.

Good morning, everyone. Welcome to our Q4 2022 earnings and 2023 guidance call. With us today is our Executive Chairman Robert Corey, CEO Michael Gettler, incoming CEO Scott Smith, President Rajiv Malik, and CFO Sanjeev Narula. During today's call, we will be making forward-looking statements on a number of matters, including our financial guidance for 2023 and various strategic initiatives. These forward-looking statements are subject to risks and uncertainties that could cause future results or events to differ materially from today's projections. Please refer to today's slide presentation and our SEC filings for a fuller explanation of those risks and uncertainties and the limits applicable to forward-looking statements. We will be referring to certain actual and projected non-GAAP financial measures to supplement investors' understanding and assessment of our financial performance. Reconciliations of those non-GAAP measures to the most directly comparable GAAP measures are available on our website and in the appendix of today's slide presentation. An archived copy of today's presentation and other earnings materials will be available on our website at investor.beatrice.com following the conclusion of today's call. With that, let me welcome Robert Corey.

Good morning. When I spoke with you on November 7th, I shared my excitement for all that I saw ahead for Beatrice as we begin to approach the end of phase one of our strategic plan, which as you know, has been our setup phase. And now as we prepare to enter phase two, beginning in 2024, I am pleased to report with our eighth consecutive successful quarter of execution behind us, the rebasing of our business model is well underway. And though we are not giving guidance for 2024, I am even more confident today that we will not only generate a minimum of $2.3 billion of free cash flows, excluding transaction costs and taxes, but now also see the potential for accelerated top-line growth from 2023 to 2024 as well. This is on top of the expected top-line growth you saw in this morning's press release between 2022 and 2023 after excluding the full-year impact of the biosimilars business in 2022. Now, turning to the other press release you saw this morning, the Board of Directors has appointed Scott Smith as Vietris' new Chief Executive Officer, effective April 1st. Scott will lead the company in the execution of our previously announced Phase 2 strategy. Scott has been a member of the Beatrice's Board since December of 2022 and is a deeply knowledgeable senior global biotechnology pharmaceutical executive with over 35 years of experience, including as a former president and chief operating officer at Celgene Corporation, where he built and oversaw the clinical development, registration, launch, and global commercial success of the blockbuster drug, Otesla. Most recently, Scott has served as the president of BioAlta, a publicly traded global biotechnology company focused on the development of conditionally active biologic antibody therapeutics. The board views Scott as a seasoned builder who possesses vast global commercial and pharmaceutical expertise and a proven ability to build, grow, and manage large complex organizations. We see his strong commercial and strategic expertise being complemented by his experience in organically building product franchises and executing business development and partnering activities. He also has substantial experience in the development of regulatory and clinical strategies that bring products to market. I personally have been very impressed with Scott's overall approach to leadership, his deep industry knowledge, and forward-looking business mindset. With our foundation now firmly in place and as we enter into phase two of our strategic plan, the Board truly believes that Scott is well positioned for success as he leads the growth of Beatrice in the years ahead. We are excited to welcome Scott. and believe that he is absolutely the right choice to lead the company into the next phase of our journey. I'd now like to turn the call over to Scott to say a few words himself. Scott?

Thank you, Robert, and good morning to everybody on the call. It is an incredibly exciting time to become Vietris' CEO. I watched closely in November as the company laid out the next important steps in its well-crafted strategic plan, including its commitment to its future capital allocation priorities, which I totally support. Since then, and particularly after joining the board and seeing their incredible level of engagement, I've been extremely impressed by everyone that I've met during this process and have also been inspired by all that has been accomplished in such a short period of time. I strongly identify with Beatrice's culture, which, when combined with the company's strategic forward-looking mindset, makes it a natural fit for me. Just as importantly, I am also motivated by the company's strong financial profile and financial flexibility, which has one of the strongest balance sheets in the sector. I can see many additional opportunities and options for Vietris to accelerate its growth in the coming years. I believe that my franchise building, business development, and recent biotech experiences, coupled with the great platform we have to work from, can accelerate VHS's momentum and help deliver on its full value and potential. I would like to thank Robert and the board for this amazing opportunity and look forward to collaborating with Michael during this transition. I am very excited about the prospect of working with the board, Rajiv Malik, Sanjeev Narula, and the entire management team on the execution ahead. And lastly, to the company's 37,000 employees, I am honored to have the opportunity to serve each of you and look forward to working with all of you in the near future as we continue to deliver on Beatrice's mission to empower people worldwide to live healthier at every stage of life.