Eli Lilly — May 1, 2025 release

Guidance for EPS for 2025 decreased to the range of $20.17 to $21.67 on a reported basis, driven by the acquired IPR&D charges and net losses on investments in equity securities and $20.78 to $22.28 on a non-GAAP basis, driven by the acquired IPR&D charges. The company's updated 2025 financial guidance reflects adjustments shown in the reconciliation table below. 2025 Guidance Earnings per share (reported) $20.17 to $21.67 Amortization of intangible assets .44 Asset impairment, restructuring, and other special charges .03 Net losses on investments in equity securities .13 Earnings per share (non-GAAP) $20.78 to $22.28 Numbers may not add due to rounding 2 The Company defines performance margin as gross margin less R&D, Marketing, Selling, and Administrative and Asset Impairment, Restructuring and Other Charges divided by revenue 7 The following table summarizes the company's updated 2025 financial guidance: Prior Updated (1) (2) (3) Revenue $58.0 to $61.0 billion Unchanged Performance Margin (4) (reported) 40.5% to 42.5% Unchanged (non-GAAP) 41.5% to 43.5% Unchanged Other Income/(Expense) (reported) ($700) to ($600) million ($850) to ($750) million Other Income/(Expense) (non-GAAP) ($700) to ($600) million Unchanged Tax Rate Approx. 16% Approx. 17% Earnings per Share (reported) $22.05 to $23.55 $20.17 to $21.67 Earnings per Share (non-GAAP) $22.50 to $24.00 $20.78 to $22.28 (1) Non-GAAP guidance reflects adjustments presented in the earnings per share reconciliation table above. (2) Guidance includes acquired IPR&D charges through Q1 2025 of $1.57 billion or $1.72 on a per share basis. Guidance does