BRISTOL-MYERS SQUIBB COMPANY EARNINGS FROM OPERATIONS (Unaudited, dollars and shares in millions except per share data) 2020 2021 Year 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr Year Net product sales $ 41,321 $ 10,798 $ 11,405 $ 1

BRISTOL-MYERS SQUIBB COMPANY

EARNINGS FROM OPERATIONS

(Unaudited, dollars and shares in millions except per share data)

* Quarterly amounts may not add to the year-to-date amounts, as each period is computed on a discrete basis.

(a) Excludes amortization of acquired intangible assets.

(b) Research and development charges resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of

third-party intellectual property rights have been reclassified to the Acquired IPRD line item beginning with the first quarter of 2022. Prior period results have been revised for comparability.

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION TO PREVIOUSLY REPORTED DILUTED EPS - NON-GAAP

(Unaudited, dollars and shares in millions except per share data)

BRISTOL-MYERS SQUIBB COMPANY

(Unaudited, dollars in millions)

BRISTOL-MYERS SQUIBB COMPANY

RECONCILIATION OF CERTAIN GAAP LINE ITEMS TO CERTAIN NON-GAAP LINE ITEMS

(Unaudited, dollars in millions)

BRISTOL-MYERS SQUIBB COMPANY

USE OF NON-GAAP FINANCIAL INFORMATION

In discussing financial results, the Company refers to financial measures that are not in accordance with U.S. Generally Accepted Accounting Principles

(GAAP). These non-GAAP financial measures, provided as supplemental information to the financial measures presented in this exhibit that are calculated and presented in accordance with GAAP, are presented because management has evaluated the

Company's financial results both including and excluding the adjusted items or the effects of foreign currency translation, as applicable, and believes that the non-GAAP financial measures presented supplement or enhance management, analysts

and investors overall understanding of the Company's underlying financial performance and trends and facilitate comparisons among current, past and future periods.

Non-GAAP financial measures such as non-GAAP earnings and related EPS information are adjusted to exclude certain costs, expenses, gains and losses and other specified items that are evaluated on an individual basis after considering

their quantitative and qualitative aspects and typically have one or more of the following characteristics, such as being highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not

indicative of past or future operating results. These items are excluded from non-GAAP earnings and related EPS information because the Company believes they neither relate to the ordinary course of the Company's business nor reflect the

Company's underlying business performance. Similar charges or gains were recognized in prior periods and will likely reoccur in future periods, including amortization of acquired intangible assets, including product rights that generate a

significant portion of our ongoing revenue and will recur until the intangible assets are fully amortized, unwind of inventory purchase price adjustments, acquisition and integration expenses, restructuring costs, accelerated depreciation and

impairment of property, plant and equipment and intangible assets, divestiture gains or losses, stock compensation resulting from accelerated vesting of Celgene awards, certain retention-related employee compensation charges related to the

Celgene transaction, pension, legal and other contractual settlement charges, equity investment and contingent value rights fair value adjustments (including fair value adjustments attributed to limited partnership equity method investments

beginning in 2021) and amortization of fair value adjustments of debt acquired from Celgene in our 2019 exchange offer, among other items. Certain other significant tax items are also excluded such as the impact resulting from internal

transfers due to streamlining our legal entity structure subsequent to the Celgene acquisition and the global intangible low taxed income tax change upon finalization of the Otezla* divestiture in 2020. Deferred and current income taxes

attributed to these items are also adjusted for considering their individual impact to the overall tax expense, deductibility and jurisdictional tax rates. The Company will modify its presentation of non-GAAP results and no longer exclude from

non-GAAP results significant R&D charges or other income resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights beginning in the first quarter

of 2022. For the purposes of comparability with future periods, the non-GAAP financial measures for the year ended December 31, 2020, each of the four quarters of 2021 and the year ended December 31, 2021, presented in this exhibit have been

updated to reflect this change; however, the Company has reconciled non-GAAP diluted earnings per share as calculated using the new methodology to the previously reported non-GAAP diluted earnings per share to allow investors and readers to

evaluate this non-GAAP measure using the historic methodologies in place as of the applicable dates.

Because the non-GAAP financial measures are not calculated in accordance with GAAP, they should not be considered superior to and are not intended to be considered in isolation or as a substitute for the related financial measures

presented in this exhibit that are prepared in accordance with GAAP and may not be the same as or comparable to similarly titled measures presented by other companies due to possible differences in method and in the items being adjusted. We

encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.

Reconciliations of the non-GAAP financial measures to the most comparable GAAP measures are provided in the accompanying financial tables. Within the accompanying financial tables presented, certain columns and rows may not add due to

the use of rounded numbers. Percentages and earnings per share amounts presented are calculated from the underlying amounts.