Dear Shareholders,

Thank you for your trust and investment in Pfizer. As the Lead Independent Director, I am honored to work alongside a dedicated and dynamic Board committed to overseeing Pfizer and representing your interests.

Throughout the course of 2025, the Board remained focused on overseeing Pfizer's strategic direction and prudent use of capital to enhance shareholder value. The company strengthened its leadership for certain key products and refocused its R&D and commercial operations. Pfizer also demonstrated strong cost discipline, exceeded its savings targets, and returned $9.8 billion to shareholders in cash dividends. In addition, the Board supported reinvestment in the business and the company's pursuit of complementary transactions, including the acquisition of Metsera, Inc. and our in-licensing agreements with 3SBio Inc. and YaoPharma Co., Ltd. We are proud of these significant strategic developments that we believe position Pfizer for potential future growth.

Furthermore, on behalf of Pfizer, our Chairman and CEO, Dr. Albert Bourla secured a voluntary agreement with the U.S. Government designed to make certain drug prices for U.S. patients more comparable with those in other developed countries, to provide clarity on the impact of certain U.S. tariffs, and to further the company's ability to expand investment in U.S.-based innovation and manufacturing.

The Board remains committed to maintaining best practices for Board effectiveness, including ongoing refreshment, seeking Directors who can help guide Pfizer through its continued transformation and long-term strategic focus. I am pleased to share that our two newest Directors, Cyrus Taraporevala and Tim Buckley, have seamlessly integrated into the Board and enriched our strategy discussions with their valuable insights.

We also routinely assess the effectiveness, composition, and oversight practices of the Board through an annual evaluation process for both the Board and its Committees. The Governance Committee has recently reviewed this overall evaluation approach and, for 2026, has decided to engage a third-party provider—a practice we periodically implement to further enhance our self-evaluation process.

Shareholder engagement remained a priority in 2025. After strong executive compensation program support averaging 93.5% from 2015 through 2024, in 2025, our Say-on-Pay vote received 54.7% support, lower than historical levels. In response, we sought shareholder input on possible next steps, including improvements to our executive compensation program and disclosures. Compensation Committee Chair Jim Smith led discussions with several of Pfizer's largest investors, underscoring our commitment to engaging with shareholders and the importance we place on hearing shareholder perspectives firsthand. Further details on the Board's responses to our 2025 Say-on-Pay vote are provided in the Compensation Discussion and Analysis section of this Proxy Statement.

On a different note, I want to recognize and express our deep gratitude to Dr. Susan Hockfield, who has elected to retire from the Board effective April 2026 and will not seek re-election. Dr. Hockfield has been an invaluable member of the Board, bringing her distinguished expertise and thoughtful leadership to our deliberations. Her dedicated service, especially her significant contributions to the Regulatory and Compliance Committee, as well as the Science and Technology Committee, has helped shape Pfizer's strategic direction and uphold the highest standards of governance. On behalf of the entire Board, we extend our sincere appreciation for her commitment and years of exemplary service to Pfizer and its shareholders.

In closing, I am truly proud to serve on this Board, which benefits from a diverse and balanced mix of perspectives and expertise. I have full confidence in Pfizer's leadership and that the strategic actions taken this year position the company for a successful tomorrow.

On behalf of the Board, thank you for your continued support, interest, and investment in Pfizer. Your vote is important, so please take the time to read the Proxy Statement and cast your vote.

Mr. Shantanu Narayen

Lead Independent Director