AmerisourceBergen Corporation 1 West First Avenue Conshohocken, PA 19428 AMERISOURCEBERGEN REPORTS FISCAL 2022 FIRST QUARTER RESULTS Revenues of $59.6B billion for the First Quarter, a 13.5 Percent Increase Year-Over-Yea

AMERISOURCEBERGEN REPORTS

FISCAL 2022 FIRST QUARTER RESULTS

Revenues of $59.6B billion for the First Quarter, a 13.5 Percent Increase Year-Over-Year

First Quarter GAAP Diluted EPS of $2.13 and Adjusted Diluted EPS of $2.58

Adjusted Diluted EPS Guidance Range Raised to $10.60 to $10.90 for Fiscal 2022

CONSHOHOCKEN, PA, February 2, 2022 - AmerisourceBergen Corporation (NYSE ABC) today reported that in its fiscal year 2022 first quarter ended December 31, 2021, revenue increased 13.5 percent year-over-year to $59.6 billion. On the basis of U.S. generally accepted accounting principles (GAAP), diluted earnings per share (EPS) was $2.13 for the December quarter of fiscal 2022, compared to $1.81 in the prior year quarter. Adjusted diluted EPS, which is a non-GAAP measure that excludes items described below, increased 18.3 percent to $2.58 in the fiscal first quarter.

AmerisourceBergen is updating its outlook for fiscal year 2022. The Company does not provide forward-looking guidance on a GAAP basis, as discussed below in Fiscal Year 2022 Expectations. Adjusted diluted EPS guidance has been raised from the previous range of $10.50 to $10.80 to a range of $10.60 to $10.90.

AmerisourceBergen continues to play an important role in supporting the COVID response, both in the U.S. and abroad, said Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen. We are proud of the work our teams do in leveraging our capabilities and expertise to deliver innovative solutions to help advance pharmaceutical innovation and access.

As we move further into 2022, AmerisourceBergen remains focused on execution and delivering differentiated solutions through our pharmaceutical-centric strategy, Mr. Collis continued. Our updated fiscal 2022 guidance reflects the value of purpose-minded team members helping us play a crucial role in supporting the evolving needs of the global healthcare system and I remain inspired by their dedication.

First Quarter Fiscal Year 2022 Summary Results

Below, AmerisourceBergen presents descriptive summaries of the Company's GAAP and adjusted (non-GAAP) quarterly results. In the tables that follow, GAAP results and GAAP to non-GAAP reconciliations are presented. For more information related to non-GAAP financial measures, including adjustments made in the periods presented, please refer to the Supplemental Information Regarding non-GAAP Financial Measures following the tables.

First Quarter GAAP Results

Revenue In the first quarter of fiscal 2022, revenue was $59.6 billion, up 13.5 percent compared to the same quarter in the previous fiscal year, reflecting a 604.2 percent increase in revenue within International Healthcare Solutions, primarily driven by the June 2021 acquisition of Alliance Healthcare, and a 2.7 percent increase in U.S. Healthcare Solutions revenue.

Gross Profit Gross profit in the first quarter of fiscal 2022 was $2.1 billion, a 41.9 percent increase compared to the same period in the previous fiscal year. The increase was due to an increase in gross profit in International Healthcare Solutions, which was primarily driven by the June 2021 acquisition of Alliance Healthcare, an increase in gross profit in U.S. Healthcare Solutions, and a higher LIFO credit in the quarter compared to the prior year quarter. Gross profit as a percentage of revenue was 3.46%, an increase of 69 basis points from the prior year quarter primarily driven by the June 2021 acquisition of Alliance Healthcare.

Operating Expenses In the first quarter of fiscal 2022, operating expenses were $1.4 billion, a 56.5 percent increase, primarily as a result of increases in distribution, selling, and administrative expenses and depreciation and amortization expense compared to the prior year quarter primarily due to the June 2021 acquisition of Alliance Healthcare.

Operating Income In the fiscal 2022 first quarter, operating income was $644.4 million, a 17.8 percent increase compared to the same period in the prior fiscal year. The increase was due to a 253.1 percent increase in operating income within International Healthcare Solutions and a 0.6 percent increase in U.S. Healthcare Solutions' operating income. Operating income as a percentage of revenue was 1.08 percent in the first quarter of fiscal 2022, compared to 1.04 percent for the same period in the previous fiscal year primarily due to the June 2021 acquisition of Alliance Healthcare.

Interest Expense, Net In the fiscal 2022 first quarter, net interest expense of $53.4 million was up 58.8 percent versus the prior year quarter due to an increase in debt as a result of the June 2021 acquisition of Alliance Healthcare.

Effective Tax Rate The effective tax rate was 24.6 percent for the first quarter of fiscal 2022. This compares to 28.3 percent in the prior year quarter, which was unfavorably impacted by Swiss tax reform.

Diluted Earnings Per Share Diluted earnings per share was $2.13 in the first quarter of fiscal 2022 compared to $1.81 in the previous fiscal year's first quarter.

Diluted Shares Outstanding Diluted weighted average shares outstanding for the first quarter of fiscal 2022 were 211.2 million, a 2.1 percent increase versus the prior fiscal year first quarter resulting from stock option exercises, restricted stock vesting, and the issuance of 2 million shares of the Company's common stock to Walgreens Boots Alliance, Inc. ( WBA ) for the June 2021 acquisition of Alliance Healthcare.

First Quarter Adjusted (non-GAAP) Results

Revenue No adjustments were made to the GAAP presentation of revenue. In the first quarter of fiscal 2022, revenue was $59.6 billion, up 13.5 percent compared to the same quarter in the previous fiscal year, reflecting a 604.2 percent increase in revenue within International Healthcare Solutions, primarily driven by the June 2021 acquisition of Alliance Healthcare, and a 2.7 percent increase in U.S. Healthcare Solutions revenue.

Adjusted Gross Profit Adjusted gross profit in the first quarter of fiscal 2022 was $2.0 billion, a 41.3 percent increase compared to the same period in the previous fiscal year. The increase was due to increases in gross profit in International Healthcare Solutions, primarily driven by the June 2021 acquisition of Alliance Healthcare, and U.S. Healthcare Solutions. Adjusted gross profit as a percentage of revenue was 3.38 percent in the fiscal 2022 first quarter, an increase of 66 basis points when compared to the prior year quarter primarily driven by the June 2021 acquisition of Alliance Healthcare.

Adjusted Operating Expenses In the first quarter of fiscal 2022, adjusted operating expenses were $1.3 billion, a 56.4 percent increase, primarily as a result of increases in distribution, selling, and administrative expenses and depreciation expense compared to the prior year quarter primarily due to the June 2021 acquisition of Alliance Healthcare.

Adjusted Operating Income In the fiscal 2022 first quarter, adjusted operating income was $749.1 million, a 21.4 percent increase compared to the same period in the prior fiscal year. The increase was due to a 253.1 percent increase in operating income within International Healthcare Solutions and a 0.6 percent increase in U.S. Healthcare Solutions' operating income. Adjusted operating income as a percentage of revenue was 1.26 percent in the fiscal 2022 first quarter, an increase of 9 basis points when compared to the prior year quarter primarily due to the June 2021 Alliance Healthcare acquisition.

Interest Expense, Net No adjustments were made to the GAAP presentation of net interest expense. In the fiscal 2022 first quarter, net interest expense of $53.4 million was up 58.8 percent versus the prior year quarter due to an increase in debt as a result of the June 2021 acquisition of Alliance Healthcare.

Adjusted Effective Tax Rate The adjusted effective tax rate was 21.3 percent for the first quarter of fiscal 2022 compared to 22.0 percent in the prior year quarter.

Adjusted Diluted Earnings Per Share Adjusted diluted earnings per share was up 18.3 percent to $2.58 in the first quarter of fiscal 2022 compared to $2.18 in the previous fiscal year's first quarter.

Diluted Shares Outstanding No adjustments were made to the GAAP presentation of diluted shares outstanding. Diluted weighted average shares outstanding for the first quarter of fiscal 2022 were 211.2 million, a 2.1 percent increase versus the prior fiscal year first quarter resulting from stock option exercises, restricted stock vesting, and the issuance of 2 million shares of the Company's common stock to WBA for the June 2021 acquisition of Alliance Healthcare.

The Company is organized geographically based upon the products and services it provides to its customers. The

Company has re-aligned its reporting structure under two reportable segments U.S. Healthcare Solutions and International Healthcare Solutions. U.S. Healthcare Solutions consists of the legacy Pharmaceutical Distribution Services reportable segment (excluding Profarma), MWI Animal Health, Xcenda, Lash Group, and ICS 3PL. International Healthcare Solutions consists of Alliance Healthcare, World Courier, Innomar, Profarma, and Profarma Specialty. The Company's previously reported segment results have been revised to conform to its re-aligned reporting structure.

U.S. Healthcare Solutions

U.S. Healthcare Solutions revenue was $53.0 billion in the first quarter of fiscal 2022, an increase of 2.7 percent compared to the same quarter in the prior fiscal year primarily due to overall market growth, increased sales to specialty physician practices, and growth in the MWI Animal Health business, partially offset by lower revenue from COVID-19 therapies. Segment operating income of $569.1 million in the first quarter of fiscal 2022 was up 0.6 percent compared to the same period in the previous fiscal year as a result of an increase in gross profit, largely offset by an increase in operating expenses.

International Healthcare Solutions

Revenue in International Healthcare Solutions was $6.6 billion in the first quarter of fiscal 2022, an increase from the previous fiscal year's first quarter of 604.2 percent on a reported basis, and 632 percent on a constant currency basis, primarily due to the June 2021 acquisition of Alliance Healthcare. Segment operating income in the first quarter of fiscal 2022 was $180.1 million, an increase of 253.1 percent on a reported basis and 268 percent on a constant currency basis, due to the June 2021 acquisition of Alliance Healthcare.

Recent Company Highlights Milestones

AmerisourceBergen continues to play its key role as distributor of antiviral and antibody therapies used to treat COVID-19, including new treatments authorized by the FDA.

AmerisourceBergen extended its pharmaceutical supply agreement with Express Scripts through 2026.

AmerisourceBergen released its 2021 Global Sustainability Report and ESG Reporting Index, detailing the impact of its robust sustainability and community efforts. For the fourth year in a row, selected information within the 2021 report was assured by ERM Certification and Verification Services.

AmerisourceBergen's continued progress and commitment to advancing ESG initiatives is reflected by the company's inclusion in the S P Global Sustainability Yearbook 2022, one of the most comprehensive publications providing in-depth analysis on corporate sustainability. AmerisourceBergen was also recently named one of America's Most Responsible Companies by Newsweek magazine. AmerisourceBergen ranked 41st overall on Newsweek's 2022 list and 6th in the Health Care Life Sciences category.

AmerisourceBergen has made an investment into J.P. Morgan Asset Management's Empower money market share class which allows institutional clients to support minority-owned and diverse-led financial institutions and create a positive social impact.

Fiscal Year 2022 Expectations

The Company does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available or cannot be reasonably estimated. Please refer to the Supplemental Information Regarding Non-GAAP Financial Measures following the tables for additional information.

Fiscal Year 2022 Expectations on an Adjusted (non-GAAP) Basis

AmerisourceBergen is now updating its fiscal year 2022 financial guidance to reflect the updated full year expectations from COVID therapy distribution and higher interest expense. The Company now expects

Adjusted Diluted Earnings Per Share to be in the range of $10.60 to $10.90, raised from the previous range of $10.50 to $10.80.

Additional expectations now include

Adjusted operating income growth to be in the high-teens percent range, up from growth in the mid- to high-teens percent range

U.S. Healthcare Solutions operating income to be in the range of $2.375 to $2.45 billion, representing growth of 5% to 9%, up from a range of $2.325 to $2.4 billion

Interest expense to be in the range of $210 to $215 million, up from growth in the mid-teens percent range.

All other previously communicated aspects of the Company's fiscal year 2022 financial guidance and assumptions remain the same.

Dividend Declaration

The Company's Board of Directors declared a quarterly cash dividend of $0.46 per common share, payable February 28, 2022, to stockholders of record at the close of business on February 14, 2022.

On December 22, 2021, the Company announced that the deadline for political subdivisions in participating states to join the previously announced proposed opioid settlement agreement was extended from January 2, 2022 to January 26, 2022. Subsequently, several additional states confirmed their intent to sign on the agreement, increasing the number of participating states to 46 out of 49 states, all 5 U.S. territories and Washington, D.C. The deadline for the Company and the two other national distributors to independently determine whether to proceed with the proposed opioid settlement is February 25, 2022.

Conference Call Slide Presentation

The Company will host a conference call to discuss the results at 8 30 a.m. ET on February 2, 2022. A slide presentation for investors has also been posted on the Company's website at investor.amerisourcebergen.com. Participating in the conference call will be

Steven H. Collis, Chairman, President Chief Executive Officer

James F. Cleary, Executive Vice President Chief Financial Officer

The dial-in number for the live call will be (844) 200-6205. From outside the United States and Canada, dial +1 (929) 526-1599. The access code for the call will be 034703. The live call will also be webcast via the Company's website at investor.amerisourcebergen.com. Users are encouraged to log on to the webcast approximately 10 minutes in advance of the scheduled start time of the call.

Replays of the call will be made available via telephone and webcast. A replay of the webcast will be posted on investor.amerisourcebergen.com approximately one hour after the completion of the call and will remain available for one year. The telephone replay will also be available approximately one hour after the completion of the call and will remain available for seven days. To access the telephone replay from within the U.S. and Canada, dial (866) 813-9403. From outside the United States and Canada, dial +44 (204) 525-0658. The access code for the replay is 009158.

Upcoming Investor Events

AmerisourceBergen management will be attending the following investor conference in the coming months

Barclays Global Healthcare Conference, March 15-17, 2022.

About AmerisourceBergen

AmerisourceBergen fosters a positive impact on the health of people and communities around the world by advancing the development and delivery of pharmaceuticals and healthcare products. As a leading global healthcare company, with a foundation in pharmaceutical distribution and solutions for manufacturers, pharmacies and providers, we create unparalleled access, efficiency and reliability for human and animal health. Our 42,000 global team members power our purpose We are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #8 on the Fortune 500 with more than $200 billion in annual revenue. Learn more at investor.amerisourcebergen.com.

AmerisourceBergen's Cautionary Note Regarding Forward-Looking Statements

Certain of the statements contained in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the Securities Exchange Act ). Words such as expect, likely, outlook, forecast, would, could, should, can, project, intend, plan, continue, sustain, synergy, on track, believe, seek, estimate, anticipate, may, possible, assume, variations of such words, and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and are subject to uncertainty and changes in circumstances and speak only as of the date hereof. These statements are not guarantees of future performance and are based on assumptions and estimates that could prove incorrect or could cause actual results to vary materially from those indicated. Among the factors that could cause actual results to differ materially from those projected, anticipated, or implied are the following unfavorable trends in brand and generic pharmaceutical pricing, including in rate or frequency of price inflation or deflation competition and industry consolidation of both customers and suppliers resulting in increasing pressure to reduce prices for our products and services changes in the United States healthcare and regulatory environment, including changes that could impact prescription drug reimbursement under Medicare and Medicaid increasing governmental regulations regarding the pharmaceutical supply channel declining reimbursement rates for pharmaceuticals continued federal and state government enforcement initiatives to detect and prevent suspicious orders of controlled substances and the diversion of controlled substances continued prosecution or suit by federal, state and other governmental entities of alleged violations of laws and regulations regarding controlled substances, including due to failure to achieve a global resolution of the multi-district opioid litigation and other related state court litigation, and any related disputes, including shareholder derivative lawsuits increased federal scrutiny and litigation, including qui tam litigation, for alleged violations of laws and regulations governing the marketing, sale, purchase and or dispensing of pharmaceutical products or services, and associated reserves and costs failure to comply with the Corporate Integrity Agreement material adverse resolution of pending legal proceedings the retention of key customer or supplier relationships under less favorable economics or the adverse resolution of any contract or other dispute with customers or suppliers changes to customer or supplier payment terms, including as a result of the COVID-19 impact on such payment terms the integration of the Alliance Healthcare business into the Company being more difficult, time consuming or costly than expected the Company's or Alliance Healthcare's failure to achieve expected or targeted future financial and operating performance and results the effects of disruption from the acquisition and related strategic transactions on the respective businesses of the Company and Alliance Healthcare and the fact that the acquisition and related strategic transactions may make it more difficult to establish or maintain relationships with employees, suppliers and other business partners the acquisition of businesses, including the acquisition of the Alliance Healthcare businesses and related strategic transactions, that do not perform as expected, or that are difficult to integrate or control, or the inability to capture all of the anticipated synergies related thereto or to capture the anticipated synergies within the expected time period risks associated with the strategic, long-term relationship between Walgreens Boots Alliance, Inc. and the Company, including with respect to the pharmaceutical distribution agreement and or the global generic purchasing services arrangement managing foreign expansion, including non-compliance with the U.S. Foreign Corrupt Practices Act, anti-bribery laws, economic sanctions and import laws and regulations financial market volatility and disruption changes in tax laws or legislative initiatives that could adversely affect the Company's tax positions and or the Company's tax liabilities or adverse resolution of challenges to the Company's tax positions substantial defaults in payment, material reduction in purchases by or the loss, bankruptcy or insolvency of a major customer, including as a result of COVID-19 the loss, bankruptcy or insolvency of a major supplier, including as a result of COVID-19 financial and other impacts of COVID-19 on our operations or business continuity changes to the customer or supplier mix malfunction, failure or breach of sophisticated information systems to operate as designed risks generally associated with data privacy regulation and the international transfer of personal data natural disasters or other unexpected events, such as additional pandemics, that affect the Company's operations the impairment of goodwill or other intangible assets (including any additional impairments with respect to foreign operations), resulting in a charge to earnings the Company's ability to manage and complete divestitures the disruption of the Company's cash flow and ability to return value to its stockholders in accordance with its past practices interest rate and foreign currency exchange rate fluctuations declining economic conditions in the United States and abroad and other economic, business, competitive, legal, tax, regulatory and or operational factors affecting the Company's business generally. Certain additional factors that management believes could cause actual outcomes and results to differ materially from those described in forward-looking statements are set forth (i) in Item 1A (Risk Factors), in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2021 and elsewhere in that report and (ii) in other reports filed by the Company pursuant to the Securities Exchange Act. The Company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by the federal securities laws.

AMERISOURCEBERGEN CORPORATION

(in thousands, except per share data)

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1 Includes $44.7 million and $25.7 million of LIFO credits in the three months ended December 31, 2021 and 2020, respectively.

2 Includes $0.3 million of employee severance, a $6.8 million legal accrual related to opioid litigation settlements, $25.8 million of legal fees in connection with opioid lawsuits and investigations, and $32.0 million of other costs in connection with acquisition-related deal and integration costs, business transformation efforts, and other restructuring initiatives in the three months ended December 31, 2021. Includes $32.1 million of legal fees in connection with opioid lawsuits and investigations and $38.3 million of other costs in connection with acquisition-related deal and integration costs, business transformation efforts, and other restructuring initiatives in the three months ended December 31, 2020.

3 Includes $5.3 million and $14.0 million of gains on the currency remeasurement of deferred tax assets relating to 2020 Swiss tax reform in the three months ended December 31, 2021 and 2020, respectively.

4 Includes $11.1 million of discrete tax expense and $8.9 million of amortization expense relating to deferred tax assets established in connection with 2020 Swiss tax reform in the three months ended December 31, 2021. Includes $52.3 million of expense relating to Swiss tax reform and $20.4 million of discrete tax benefits primarily attributable to the income tax deductions resulting from the shutdown of the PharMEDium business in the three months ended December 31, 2020.

AMERISOURCEBERGEN CORPORATION

GAAP TO NON-GAAP RECONCILIATIONS

(in thousands, except per share data)

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1 Includes a $5.3 million gain on the currency remeasurement of the deferred tax assets relating to Swiss tax reform, which is recorded within Other Income, Net.

Note For more information related to non-GAAP financial measures, refer to the section titled Supplemental Information Regarding Non-GAAP Financial Measures of this release.

AMERISOURCEBERGEN CORPORATION

GAAP TO NON-GAAP RECONCILIATIONS

(in thousands, except per share data)

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1 Represents discrete tax benefits primarily attributable to the income tax deductions resulting from the permanent shutdown of the PharMEDium business.

2 Represents tax expense relating to Swiss tax reform and a $14.0 million gain on the currency remeasurement of the related deferred tax assets, which is recorded within Other Income, Net.

Note For more information related to non-GAAP financial measures, refer to the section titled Supplemental Information Regarding Non-GAAP Financial Measures of this release.

AMERISOURCEBERGEN CORPORATION

SUMMARY SEGMENT INFORMATION

Note For more information related to non-GAAP financial measures, refer to the section titled Supplemental Information Regarding Non-GAAP Financial Measures of this release.

AMERISOURCEBERGEN CORPORATION