AmerisourceBergen Corporation 1 West First Avenue Conshohocken, PA 19428 AMERISOURCEBERGEN REPORTS FISCAL 2023 THIRD QUARTER RESULTS Revenue of $66.9 billion for the Third Quarter, an 11.5 Percent Increase Year-Over-Year

AMERISOURCEBERGEN REPORTS

FISCAL 2023 THIRD QUARTER RESULTS

Revenue of $66.9 billion for the Third Quarter, an 11.5 Percent Increase Year-Over-Year

Third Quarter GAAP Diluted EPS of $2.35 and Adjusted Diluted EPS of $2.92

Adjusted Diluted EPS Guidance Range Raised to $11.85 to $11.95 for Fiscal 2023

Company will begin operating as Cencora and trading under the ticker symbol "COR," effective August 30, 2023

CONSHOHOCKEN, PA, August 2, 2023 - AmerisourceBergen Corporation (NYSE ABC) today reported that in its fiscal year 2023 third quarter ended June 30, 2023, revenue increased 11.5 percent year-over-year to $66.9 billion. On the basis of U.S. generally accepted accounting principles (GAAP), diluted earnings per share (EPS) was $2.35 for the third quarter of fiscal 2023 compared to $1.92 in the prior year third quarter. Adjusted diluted EPS, which is a non-GAAP financial measure that excludes items described below, increased 11.5 percent to $2.92 in the fiscal third quarter from $2.62 in the prior year third quarter.

AmerisourceBergen is updating its outlook for fiscal year 2023. The Company does not provide forward-looking guidance on a GAAP basis, as discussed below in Fiscal Year 2023 Expectations. Adjusted diluted EPS guidance has been raised from the previous range of $11.70 to $11.90 to a range of $11.85 to $11.95.

"In our third quarter, AmerisourceBergen continued our strong performance as our business and balance sheet have driven our growth while enabling thoughtful, strategic investments to advance our business like our recently completed investment in OneOncology," said Steven H. Collis, Chairman, President Chief Executive Officer of AmerisourceBergen.

"Over the last two decades AmerisourceBergen has been at the center of the healthcare ecosystem with a legacy of execution excellence and commitment to delivering innovative solutions," Mr. Collis continued. "As we become Cencora later this month, we look forward to uniting our purpose-driven team members under our globally inclusive identity as we continue to deliver on our purpose and drive long-term value creation for all our stakeholders."

Third Quarter Fiscal Year 2023 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.

Third Quarter GAAP Results

Revenue In the third quarter of fiscal 2023, revenue was $66.9 billion, up 11.5 percent compared to the same quarter in the previous fiscal year, reflecting a 12.2 percent increase in revenue within U.S. Healthcare Solutions and a 5.6 percent increase in revenue within International Healthcare Solutions.

Gross Profit Gross profit in the third quarter of fiscal 2023 was $2.3 billion, a 12.4 percent increase compared to the same period in the previous fiscal year, primarily due to increases in gross profit in both reportable segments and gains from antitrust litigation settlements. Gross profit as a percentage of revenue was 3.38 percent, an increase of 2 basis points from the prior year quarter.

Operating Expenses In the third quarter of fiscal 2023, operating expenses were $1.6 billion, a 4.3 percent increase compared to the same period in the previous fiscal year, primarily driven by increases in distribution, selling, and administrative expenses, amortization expense, and restructuring and other expenses compared to the prior year quarter, offset in part by the receipt of $83.4 million from the H.D. Smith opioid litigation indemnity escrow in the current year quarter and a goodwill impairment related to the Company's less-than-wholly-owned subsidiary in Brazil in the prior year quarter.

Operating Income In the third quarter of fiscal 2023, operating income was $670.1 million, a 37.5 percent increase compared to the same period in the previous fiscal year due to the increase in gross profit, offset in part by the increase in operating expenses. Operating income as a percentage of revenue was 1.00 percent in the third quarter of fiscal 2023, an increase of 19 basis points when compared to the prior year quarter.

Interest Expense, Net In the third quarter of fiscal 2023, net interest expense of $57.9 million increased 9.5 percent versus the prior year quarter primarily due to increases in variable-rate borrowings and associated interest rates, offset in part by an increase in interest income as a result of higher investment interest rates.

Effective Tax Rate The effective tax rate was 21.3 percent for the third quarter of fiscal 2023, reflecting the mix of the Company's domestic and international income. This compares to 23.7 percent in the prior year quarter, which included discrete tax expenses.

Diluted Earnings Per Share Diluted earnings per share was $2.35 in the third quarter of fiscal 2023, a 22.4 percent increase compared to $1.92 in the previous fiscal year's third quarter.

Diluted Shares Outstanding Diluted weighted average shares outstanding for the third quarter of fiscal 2023 were 204.4 million, a decrease of 7.4 million shares, or 3.5 percent, versus the prior fiscal year third quarter primarily as a result of share repurchases.

Third Quarter Adjusted (non-GAAP) Results

Revenue No adjustments were made to the GAAP presentation of revenue. In the third quarter of fiscal 2023, revenue was $66.9 billion, up 11.5 percent compared to the same quarter in the previous fiscal year, reflecting a 12.2 percent increase in revenue within U.S. Healthcare Solutions and a 5.6 percent increase in revenue within International Healthcare Solutions. On a constant currency basis, revenue was up 12.2 percent, reflecting 12.4 percent constant currency growth in International Healthcare Solutions revenue.

Adjusted Gross Profit Adjusted gross profit in the third quarter of fiscal 2023 was $2.2 billion, an 8.0 percent increase compared to the same period in the previous fiscal year due to increases in gross profit in both reportable segments. Adjusted gross profit as a percentage of revenue was 3.33 percent in the fiscal 2023 third quarter, a decrease of 11 basis points from the prior year quarter, due to the decline in the U.S. Healthcare Solutions gross profit margin related to lower sales of COVID-19 treatments and increased sales of products labeled for diabetes and or weight loss in the GLP-1 class, which have lower profit margins.

Adjusted Operating Expenses In the third quarter of fiscal 2023, adjusted operating expenses were $1.4 billion, a 7.6 percent increase compared to the same period in the prior fiscal year, driven by an increase in distribution, selling, and administrative expenses.

Adjusted Operating Income In the third quarter of fiscal 2023, adjusted operating income was $822.3 million, an 8.7 percent increase compared to the same period in the prior fiscal year, driven by a 9.5 percent increase in U.S. Healthcare Solutions and a 6.2 percent increase in International Healthcare Solutions. On a constant currency basis, the Company's adjusted operating income increased 9.0 percent compared to the prior year quarter. On a constant currency basis, International Healthcare Solutions segment operating income increased 7.3 percent. Adjusted operating income as a percentage of revenue was 1.23 percent in the fiscal 2023 third quarter, a decrease of 3 basis points when compared to the prior year quarter.

Interest Expense, Net No adjustments were made to the GAAP presentation of net interest expense. In the third quarter of fiscal 2023, net interest expense of $57.9 million increased 9.5 percent versus the prior year quarter primarily due to increases in variable-rate borrowings and associated interest rates, offset in part by an increase in interest income as a result of higher investment interest rates.

Adjusted Effective Tax Rate The adjusted effective tax rate was 21.5 percent for the third quarter of fiscal 2023 compared to 20.2 percent in the prior year quarter.

Adjusted Diluted Earnings Per Share Adjusted diluted earnings per share was $2.92 in the third quarter of fiscal 2023, an 11.5 percent increase compared to $2.62 in the previous fiscal year's third quarter. On a constant currency basis, adjusted diluted earnings per share increased 11.1 percent compared to the prior year quarter.

Diluted Shares Outstanding No adjustments were made to the GAAP presentation of diluted shares outstanding. Diluted weighted average shares outstanding for the third quarter of fiscal 2023 were 204.4 million, a decrease of 7.4 million shares, or 3.5 percent, versus the prior fiscal year third quarter primarily as a result of share repurchases.

The Company is organized geographically based upon the products and services it provides to its customers under two reportable segments U.S. Healthcare Solutions and International Healthcare Solutions.

U.S. Healthcare Solutions

U.S. Healthcare Solutions revenue was $59.9 billion in the third quarter of fiscal 2023, an increase of 12.2 percent compared to the same quarter in the prior fiscal year due to overall market growth primarily driven by unit volume growth, including increased sales of products labeled for diabetes and or weight loss in the GLP-1 class, which have lower profit margins, and increased sales of specialty products to physician practices and health systems, offset in part by a decrease in sales of COVID-19 treatments. Segment operating income of $635.2 million in the third quarter of fiscal 2023 was up 9.5 percent compared to the same period in the previous fiscal year as a result of an increase in gross profit.

International Healthcare Solutions

Revenue in International Healthcare Solutions was $7.0 billion in the third quarter of fiscal 2023, an increase of 5.6 percent from the previous fiscal year's third quarter due to increased revenue across our businesses, offset in part by the divestiture of our Brazilian specialty business in the prior year period. Segment operating income in the third quarter of fiscal 2023 was $187.1 million, an increase of 6.2 percent, primarily due to growth at our global specialty logistics business and the January 2023 acquisition of PharmaLex. On a constant currency basis, International Healthcare Solutions revenue and operating income increased by 12.4 percent and 7.3 percent, respectively.

Recent Company Highlights Milestones

AmerisourceBergen and TPG closed their acquisition of OneOncology, a network of leading oncology practices. AmerisourceBergen's minority investment will allow it to further deepen its relationship with community oncologists and expand on its solutions in specialty.

AmerisourceBergen will change its name to Cencora, Inc. and begin trading under the ticker symbol "COR" on the New York Stock Exchange on August 30, 2023. The new name reflects its bold vision and purpose-driven approach to creating healthier futures. The new name represents a unified presence that will continue to fuel the company's ongoing growth strategy and advance its impact across healthcare.

AmerisourceBergen was named a "Best Place to Work for Disability Inclusion" after receiving a perfect score on the Disability Equality Index. The Disability Equality Index is a joint initiative of Disability IN and the American Association of People with Disabilities that measures disability inclusion.

AmerisourceBergen was included on Forbes' first-ever Net Zero Leaders list, which highlights the 100 U.S. public companies that are best positioning themselves to reduce their greenhouse-gas emissions and integrating climate resilience into business models and practices.

AmerisourceBergen was named to USA Today's inaugural list of America's Climate Leaders, a data-driven recognition of companies that cut their carbon footprint in recent years.

AmerisourceBergen was recognized by the Civic 50 of Greater Philadelphia for its efforts to drive social impact in its community.

Good Neighbor Pharmacy, AmerisourceBergen's national independent pharmacy network, announced that it was ranked "First in Customer Satisfaction with Chain Drug Store Pharmacies" in the J.D. Power 2022 U.S. Pharmacy Study. This marks the twelfth time that Good Neighbor Pharmacy has earned the achievement in the last 14 years and the network's seventh consecutive win.

Fiscal Year 2023 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 2023 Expectations on an Adjusted (non-GAAP) Basis

AmerisourceBergen is now updating its fiscal year 2023 financial guidance to primarily reflect its strong performance to date and updated foreign currency translation rates. The Company now expects

Revenue growth to be at least 8 percent, up from the previous range of 6 to 8 percent

U.S. Healthcare Solutions revenue growth to be at least 9 percent, up from the previous range of 7 to 8 percent

International Healthcare Solutions revenue growth to be in the range of 1 to 4 percent, up from the previous range of a 3 percent decline to flat

Adjusted Diluted Earnings Per Share to be in the range of $11.85 to $11.95, representing growth of 7 to 8 percent, raised from the previous range of $11.70 to $11.90

On a constant currency basis, adjusted diluted earnings per share growth to be in the range of 9 to 10 percent, from the previous range of 8 to 10 percent

Excluding contributions related to COVID-19, adjusted diluted earnings per share growth to be in the range of 12 to 13 percent, from the previous range of 11 to 13 percent and

On a constant currency basis excluding contributions related to COVID-19, adjusted diluted earnings per share growth to be in the range of 13 to 14 percent, from the previous range of 13 to 15 percent.

Additional expectations now include

Adjusted consolidated operating income growth to be in the range of 3 to 4 percent, from the previous range of 2 to 4 percent. Excluding contributions related to COVID-19, adjusted consolidated operating income growth to be in the range of 6 to 7 percent, from the previous range of 5 to 7 percent

U.S. Healthcare Solutions segment operating income growth to be in the range of 4 to 5 percent, from the previous range of 3 to 5 percent. Expectations for segment operating income growth excluding COVID-19 contributions to be in the range of 7 to 8 percent, from the previous range of 6 to 8 percent

International Healthcare Solutions segment operating income growth to be in the range of 0 to 4 percent, up from the previous range of a 3 percent decline to 1 percent growth

Adjusted free cash flow to be at least $2 billion, from the previous guidance of approximately $2 billion and

For additional details regarding updated guidance expectations on a constant currency, ex-COVID-19 contribution and ex-M A and divestiture basis, please refer to our slide presentation for investors.

All other previously communicated aspects of the Company's fiscal year 2023 consolidated financial guidance and assumptions remain the same.

Dividend Declaration

The Company's Board of Directors declared a quarterly cash dividend of $0.485 per common share, payable August 28, 2023, to stockholders of record at the close of business on August 11, 2023.

On January 24, 2023, the Company announced its intent to change its name to better reflect its bold vision and purpose-driven approach to creating healthier futures. Effective August 30, 2023, the Company will begin operating as Cencora and will begin trading on the New York Stock Exchange under the ticker symbol "COR". The new name represents a unified presence that will continue to fuel the Company's ongoing growth strategy and advance its impact across the healthcare industry.

Conference Call Slide Presentation.

The Company will host a conference call to discuss the results at 8 30 a.m. ET on August 2, 2023. 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 (833) 470-1428. From outside the United States and Canada, dial +1 (404) 975-4839. The access code for the call will be 742015. 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 498053.

Upcoming Investor Events

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

Morgan Stanley Global Healthcare Conference, September 11, 2023 and

Baird Healthcare Conference, September 12, 2023

Please check the website for updates regarding the timing of the live presentation webcasts, if any, and for replay information.

About AmerisourceBergen

AmerisourceBergen is a leading global pharmaceutical solutions organization centered on improving the lives of people and animals around the world. We partner with pharmaceutical innovators across the value chain to facilitate and optimize market access to therapies. Care providers depend on us for the secure, reliable delivery of pharmaceuticals, healthcare products, and solutions. Our 46,000+ worldwide team members contribute to positive health outcomes through the power of our purpose We are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #11 on the Fortune 500 and #21 on the Global 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 "aim," "anticipate," "believe," "can," "continue," "could,", "estimate," expect, "intend," "may," "might," "on track," "opportunity," "plan," "possible," "potential," "predict," "project," "seek," "should," "strive," "sustain," "synergy," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. 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

the effect of and uncertainties related to the ongoing COVID-19 pandemic (including any government responses thereto) and any continued recovery from the impact of the COVID-19 pandemic

our ability to achieve and maintain profitability in the future

our ability to respond to general economic conditions, including elevated levels of inflation

our ability to manage our growth effectively and our expectations regarding the development and expansion of our business

the impact on our business of the regulatory environment and complexities with compliance

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 and declining reimbursement rates for pharmaceuticals

increasing governmental regulations regarding the pharmaceutical supply channel

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 and state governmental entities and other parties (including third-party payors, hospitals, hospital groups and individuals) of alleged violations of laws and regulations regarding controlled substances, 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

the outcome of any legal or governmental proceedings that may be instituted against us, including 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

unexpected costs, charges or expenses resulting from the acquisitions of PharmaLex and OneOncology

the integration of the Alliance Healthcare and PharmaLex businesses into the Company being more difficult, time consuming or costly than expected

the Company's, Alliance Healthcare's, PharmaLex's or OneOncology's failure to achieve expected or targeted future financial and operating performance and results