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Live the Legacy. Protect the Future.

Mike Nally, President, Global

December, 2017 This presentation of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. There can be no guarantees with respect to pipeline products that the products will receive the necessary regulatory approvals or that they will prove to be commercially successful. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents atta ined by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s 2016 Annual Report on Form 10-K and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).

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Our scientists were among the first to discover and develop medicines for the treatment of HIV

Today, a future where HIV/AIDS can be a manageable illness is closer, in part, because of Merck’s response to the crisis

Number of people living with HIV on People living with HIV Only 60% of HIV infected antiretroviral therapy 17 Million 36.7 Million people know of their status

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The surest 5 Years increase in Global Life Expectancy between 2000 to 2015 remedy for any Children under age 5 died everyday due to lack of simple interventions disease is to 16,000 such as Medicines and Vaccines invent the best Annual Deaths due to Hepatitis medicine or 1.3M Estimated 257M & 71M with chronic HBV & HCV . and Deaths in low-income countries caused by Non-Communicable Diseases ensure that the 37% (NCDs) - Cardiovascular, Cancers, Diabetes or Chronic lung diseases broadest number Or 70% of all global deaths were due to NCDs of patients have 40M access to it 43% of all NCD deaths occurred before the age of 70

15M Or 31% of all global deaths due to Ischaemic heart disease and stroke

5 US National Healthcare Budget Only Allocates ~1% For Programs But Delivers 5 Times As Much In Savings Expenditure, 2009 Childhood Vaccination Program Benefits1

Cases Prevented National Health Expenditure $ 2.5 ~ 20 Million Trillion Deaths Prevented ~ 42, 000 Expense $250 Billion Direct Costs Saved $20 Billion Vaccines Societal Costs Saved ~$19 Billion (Direct + Indirect) $ 76 Billion

Additional $25.5 Billion In Direct Costs Can Be Saved By Improving Uptake Of Adult Vaccines2

1 Zhou, F., et al. (2014). Economic Evaluation of the Routine Childhood Program in the United States, 2009. Pediatrics, 133(4). Diseases Evaluated: Diphtheria, Tetanus, Pertussis, Hib, Polio, Measles, Mumps, Rubella, Congenital Rubella Syndrome, Hep B, Varicella, HepA, Pneumococcus-related diseases & Rota 2 Estimated Human and Economic Burden of Four Major Adult Vaccine-Preventable Diseases in the United States, 2013 McLaughlin, JM, McGinnis, JJ, Tan, L, Mercatante, A., Fortuna, J., J Primary Prevent Diseases Evaluated: Influenza, pneumococcal disease (both invasive disease and pneumonia), Herpes zoster (shingles), and Pertussis (whooping cough) 6 FOR MORE THAN A HEADQUARTERS CENTURY, MERCK HAS Kenilworth, NJ, U.S.A. operating in more than BEEN INVENTING 140 countries TO SOLVE SOME OF THE GREATEST CHALLENGES Merck & Co., Inc. is our legal name and is listed TO PEOPLE’S HEALTH on the New York Stock Exchange AND WELL-BEING under the symbol "MRK.“ AROUND THE WORLD.

EMPLOYEES approximately 69,000

BUSINESSES Vaccines, Prescription medicines, Biologic therapies, Animal Health products

7 20 Years of commitment to ongoing By expanding the scope of HPV prevention, HPV clinical development 9 makes HPV cancer elimination a realistic

PROOF OF CONCEPT STUDIES Goal (MONOVALENT VACCINES) WOMEN, 16-26 YEARS

QUADRIVALENT HPV VACCINE Gardasil & Gardasil 9 were developed WOMEN, 16-26 YEARS over two decades GIRLS/BOYS, 9-15 YEARS QUADRIVALENT HPV VACCINE Gardasil was licensed in females in WOMEN, 24-45 YEARS 2006, and in males in 2009 MEN, 16-26 YEARS Gardasil 9 was licensed in 2014, & as a 8/9-VALENT 9-VALENT HPV VACCINE 2-dose schedule in 2016 CANDIDATES WOMEN/MEN, 16-26 YEARS SELECT DOSE GIRLS /BOYS, 9-15 YEARS

9-VALENT HPV VACCINE GIRLS /BOYS, 9-14 YEARS (2- DOSE SCHEDULE) 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017

8 Reliable Commercial The New Health Quality Environment Economy is challenging Supply pharma companies to better manage data, place a value on Sustainable Investment Funding medical treatments, Cycles and deal with empowered patients Scientific capability for Disruptive new disease Technologies areas

9 MERCK FOR MOTHERS

MECTIZAN DONATION PROGRAM

U.S. PATIENT ASSISTANCE PROGRAM

We believe we have an important role MERCK FELLOWSHIP FOR GLOBAL HEALTH and responsibility in improving access MSD- HILLEMAN LABORATORIES to medicines and vaccines and improving quality health care worldwide. AFYA RABIES INITIATIVE

Our key initiatives reflect that belief.

10 KEY INITIATIVES

LAUNCHED IN MSD-WELLCOME TRUST 2009 focused on low-cost vaccines HILLEMAN LABORATORIES treating a number of diseases This first-of-its-kind, nonprofit, R&D joint venture is focused on creating new vaccines, and adapting existing vaccines for low-income countries.

11 JULY 2016 FDA granted the vaccine candidate, OUR CONTRIBUTIONS IN rVSV-ZEBOV-GP (V920) Breakthrough Therapy Designation, and the EMA granted it PRIME (PRIority MEdicines) FIGHTING EBOLA status, enabling the company to continue to accelerate development of the vaccine candidate. CREATING NEW PARADIGMS OF PARTNERSHIPS & DRUG DEVELOPMENT DECEMBER 2016 The Lancet published final results of the 2015 Guinea Ebola clinical study, showing During the 2014 Ebola outbreak, we worked in an promising efficacy of Merck’s investigational vaccine against Ebola Zaire unprecedented partnership with the international in a trial. health community and committed to advancing a MAY 2017 vaccine candidate to fight a global health The WHO declared another Ebola outbreak in the Democratic Republic of the emergency Congo (DRC). 300,000 emergency doses of Merck’s investigational vaccine could be available in case of a large-scale outbreak. The story continues to develop.

12 Commitment to supply GARDASIL® & Rotateq® to Gavi markets to help our common goal to save lives Vaccine implementation support to Gavi countries

Upon licensure, MSD has pledged to make Over 30 Million Doses of Gardasil® and the Ebola vaccine available to the world’s poorest countries (Gavi-eligible) at the Rotateq® Have Been Distributed In Gavi-eligible lowest possible access price Countries Through 2016 Over 10 Million Lives Touched

13 THANK YOU