Felicia Bisaro Investor Contacts: Jennifer Halchak (646) 703-1807 (201) 275-2711 Kate Vossen Renee McKnight (732) 675-8448 (551) 204-6129 Organon Reports Results for the First Quarter Ended

Organon Reports Results for the First Quarter

Ended March 31, 2026

Jersey City, N.J., April 30, 2026 - Organon (NYSE: OGN)

today announced its results for the first quarter ended March 31, 2026.

First Quarter 2026 Revenue

Totals may not foot due to rounding and percentages

are computed using unrounded amounts.

(1) Other includes manufacturing sales to third parties.

For the first quarter of 2026, total revenue was $1.460 billion, down

4% on an as-reported basis and down 9% excluding the impact of foreign currency (ex-FX), compared with the first quarter of 2025.

Women's Health revenue declined 16% as-reported and declined

19% ex-FX in the first quarter of 2026, compared with the first quarter of 2025.

Biosimilars revenue increased

23% as-reported and 21% ex-FX in the first quarter of 2026, compared with the first quarter

of 2025, primarily due to the strong performance of Hadlima (adalimumab-bwwd)

associated with stronger demand in the U.S., and increased demand in Puerto Rico. Biosimilars also benefitted from contribution from

new assets, Bildyos (denosumab-nxxp) and Bilprevda (denosumab-nxxp) which were approved by the U.S. Food and

Drug Administration ("FDA") in the third quarter of 2025, and Tofidence (tocilizumab-bavi), which the company

acquired in the second quarter of 2025.

Established Brands revenue declined

1% as-reported and declined 7% ex-FX in the

first quarter of 2026. Revenue contribution from Emgality (1) (galcanezumab-gnlm) partially offset

a decline in the respiratory portfolio, which was driven by pricing pressure, as well as volume declines related to the adoption of revised

medical guidelines that deprioritize the use of montelukast, including Singulair (montelukast sodium), in various

international markets, most recently, in China. Global sales of Dulera (mometasone furoate and formoterol fumarate dihydrate)

also declined in the first quarter of 2026 primarily due to pricing pressure and decreased demand in the U.S. VTAMA (tapinarof)

grew modestly in the first quarter of 2026 compared with the first quarter of 2025.

(1) Organon acquired certain European licensing and distribution

rights to Emgality from Eli Lilly and Company ("Eli Lilly") beginning in early 2024. Emgality is a registered

trademark of Eli Lilly in the European Union and other countries (used under license).

First Quarter 2026 Profitability

Reported gross margin in the first quarter of 2026 was 53.6% compared

with 55.6% in the prior year period. Non-GAAP Adjusted gross margin was 59.0% in the first quarter of 2026, compared to 61.7% in the

first quarter of 2025. Unfavorable pricing and product mix as well as foreign exchange rates were notable drivers in the decline of both

reported gross margin and non-GAAP Adjusted gross margin.

Net income for the first quarter of 2026 was $146 million, or $0.55

per diluted share, compared with net income of $87 million, or $0.33 per diluted share, in the first quarter of 2025. For the first quarter

of 2026, non-GAAP Adjusted net income was $188 million, or $0.71 per diluted share, compared with $265 million, or $1.02 per diluted

share, for the first quarter of 2025.

Non-GAAP Adjusted EBITDA margin was 28.4% in the first quarter of

2026 compared with 32.0% in the first quarter of 2025. The year-over-year decline was primarily driven by a decrease in Adjusted Gross

Today, Organon's Board of Directors declared a quarterly dividend

of $0.02 for each issued and outstanding share of the company's common stock. The dividend is payable on June 11, 2026, to

stockholders of record at the close of business on May 11, 2026.

As of March 31, 2026, cash and cash equivalents were $1.12 billion,

and debt was $8.57 billion.

As is customary during the pendency of an acquisition, Organon has

suspended its quarterly earnings calls and will not host a conference call in conjunction with today's first quarter earnings release.

Organon (NYSE: OGN) is a global healthcare company with a mission

to deliver impactful medicines and solutions for a healthier every day. With a portfolio of over 70 products across Women's Health

and General Medicines, which includes biosimilars, Organon focuses on addressing health needs that uniquely, disproportionately or differently

affect women, while expanding access to essential treatments in over 140 markets.

Headquartered in Jersey City, New Jersey, Organon is committed to

X,YouTube, TikTok and Facebook.

Cautionary Note Regarding Non-GAAP Financial Measures

This press release contains "non-GAAP financial measures,"

which are financial measures that either exclude or include amounts that are correspondingly not excluded or included in the most directly

comparable measures calculated and presented in accordance with U.S. generally accepted accounting principles ("GAAP"). Specifically,

the company makes use of the non-GAAP financial measures Adjusted EBITDA, Adjusted EBITDA margin, Adjusted gross margin, Adjusted gross

profit, Adjusted net income, Adjusted EPS, and Adjusted diluted EPS, which are not recognized terms under GAAP and are presented only

as a supplement to the company's GAAP financial statements. This press release also provides certain measures that exclude the

impact of foreign exchange. We calculate foreign exchange by converting our current-period local currency financial results using the

prior period average currency rates and comparing these adjusted amounts to our current-period results. The company believes that these

non-GAAP financial measures help to enhance an understanding of the company's financial performance. However, the presentation

of these measures has limitations as an analytical tool and should not be considered in isolation, or as a substitute for the company's

results as reported under GAAP. Because not all companies use identical calculations, the presentations of these non-GAAP measures may

not be comparable to other similarly titled measures of other companies. Please refer to Table 4 and Table 5 of this press release for

additional information, including relevant definitions and reconciliations of non-GAAP financial measures contained herein to the most

directly comparable GAAP measures.

The company's management uses the non-GAAP financial measures

described above to evaluate the company's performance and to guide operational and financial decision making. Further, the company's

management believes that these non-GAAP financial measures, which exclude certain items, help to enhance its ability to meaningfully

communicate its underlying business performance, financial condition and results of operations.

Cautionary Note Regarding Forward-Looking Statements

Except for historical information, this press release includes "forward-looking

statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995, including,

but not limited to, statements relating to the merger, including the anticipated timing of completion thereof. Forward-looking statements

may be identified by words such as "proposed," "will," "continue," "expects," "believes,"

"estimates," "opportunity," "pursue," "anticipate," "be able to," "intend,"

or words of similar meaning. These statements are based upon the current beliefs and expectations of the company's management and

are subject to significant risks and uncertainties. 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 uncertainties

as to the timing of the merger; the risk that the merger may not be completed on the anticipated terms in a timely manner or at all;

the failure to satisfy any of the conditions to the consummation of the merger, including receiving, on a timely basis or otherwise,

the minimum vote required by Organon's stockholders to approve the merger; the possibility that competing offers or acquisition

proposals for Organon will be made; the possibility that any or all of the various conditions to the consummation of the merger may not

be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities

(or any conditions, limitations or restrictions placed on such approvals); the occurrence of any event, change or other circumstance

that could give rise to the termination of the definitive agreement, including in circumstances which would require Organon to pay a

termination fee; the effect of the announcement or pendency of the merger on Organon's ability to retain and hire key personnel,

its ability to maintain relationships with its customers, suppliers and others with whom it does business, or its operating results and

business generally; risks related to diverting management's attention from Organon's ongoing business operations; the risk

that stockholder litigation in connection with the merger may result in significant costs of defense, indemnification and liability;

certain restrictions during the pendency of the merger that may impact Organon's ability to pursue certain business opportunities

or strategic transactions; the risk that any announcements relating to the merger could have adverse effects on the market price of Organon's