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AMGEN ACC 2017 INVESTOR RELATIONS EVENT

MARCH 17, 2017

SAFE HARBOR STATEMENT This presentation contains forward-looking statements that are based on management’s current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements about estimates of revenues, operating margins, capital expenditures, cash, other financial metrics, expected legal, arbitration, political, regulatory or clinical results or practices, customer and prescriber patterns or practices, reimbursement activities and outcomes and other such estimates and results. Forward-looking statements involve significant risks and uncertainties, including those discussed below and more fully described in the Securities and Exchange Commission (SEC) reports filed by Amgen, including Amgen’s most recent annual report on Form 10-K and any subsequent periodic reports on Form 10-Q and Form 8-K. Please refer to Amgen’s most recent Forms 10-K, 10-Q and 8-K for additional information on the uncertainties and risk factors related to our business. Unless otherwise noted, Amgen is providing this information as of March 17, 2017 and expressly disclaims any duty to update information contained in this presentation. No forward-looking statement can be guaranteed and actual results may differ materially from those we project. Our results may be affected by our ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments involving current and future products, sales growth of recently launched products, competition from other products including biosimilars, difficulties or delays in manufacturing our products and global economic conditions. In addition, sales of our products are affected by pricing pressure, political and public scrutiny and reimbursement policies imposed by third-party payers, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment. Furthermore, our research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. We or others could identify safety, side effects or manufacturing problems with our products after they are on the market. Our business may be impacted by government investigations, litigation and product liability claims. In addition, our business may be impacted by the adoption of new tax legislation or exposure to additional tax liabilities. If we fail to meet the compliance obligations in the corporate integrity agreement between us and the U.S. government, we could become subject to significant sanctions. Further, while we routinely obtain patents for our products and technology, the protection offered by our patents and patent applications may be challenged, invalidated or circumvented by our competitors, or we may fail to prevail in present and future intellectual property litigation. We perform a substantial amount of our commercial manufacturing activities at a few key facilities and also depend on third parties for a portion of our manufacturing activities, and limits on supply may constrain sales of certain of our current products and product candidate development. In addition, we compete with other companies with respect to many of our marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for our products are supplied by sole third-party suppliers. Certain of our distributors, customers and payers have substantial purchasing leverage in their dealings with us. The discovery of significant problems with a product similar to one of our products that implicate an entire class of products could have a material adverse effect on sales of the affected products and on our business and results of operations. Our efforts to acquire other companies or products and to integrate the operations of companies we have acquired may not be successful. We may not be able to access the capital and credit markets on terms that are favorable to us, or at all. We are increasingly dependent on information technology systems, infrastructure and data security. Our stock price is volatile and may be affected by a number of events. Our business performance could affect or limit the ability of our Board of Directors to declare a dividend or our ability to pay a dividend or repurchase our common stock. This presentation includes GAAP and non-GAAP financial measures. In accordance with the requirements of SEC Regulation G, reconciliations between these two measures, if these slides are in hard copy, accompany the hard copy presentation or, if these slides are delivered electronically, are available on the Company's website at www.amgen.com within the Investors section.

Provided March 17, 2017, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update.

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AGENDA Introduction

Sean Harper, M.D.—Executive Vice President, Research and Development

Repatha® Phase 3 CV Outcomes Study

Marc Sabatine, M.D., M.P.H.—Chairman of the TIMI Study Group, Brigham and Women’s Hospital, Harvard Medical School

Repatha® Value

Joshua Ofman, M.D.—Senior Vice President, Global Value, Access and Policy

Conclusion

Sean Harper, M.D.

Q&A

Sean Harper, M.D. Joshua Ofman, M.D. Marc Sabatine, M.D., M.P.H. Tony Hooper—Executive Vice President, Global Commercial Operations Scott Wasserman, M.D.—Vice President, Research and Development Terje R. Pedersen, M.D., Ph.D.—Oslo University Hospital, Ullevål

CV = cardiovascular Provided March 17, 2017, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update.

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INTRODUCTION

MARCH 17, 2017

CONSISTENT RESULTS FROM REPATHA® PHASE 3 PROGRAM EVALUATING LDL-C; EFFECT ON PLAQUE BURDEN; CV OUTCOMES

      

Combination Therapy Monotherapy

Statin Intolerance HeFH HoFH CAD (Vascular Imaging) Secondary Prevention (CV Outcomes)

LDL-C = low-density lipoprotein cholesterol; HeFH = heterozygous familial hypercholesterolemia; HoFH = homozygous familial hypercholesterolemia CAD = coronary artery disease;  = completed Provided March 17, 2017, as part of an oral presentation and is qualified by such, contains forward-looking statements, actual results may vary materially; Amgen disclaims any duty to update.

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REPATHA® CARDIOVASCULAR OUTCOMES STUDY RESULTS

MARCH 17, 2017

FOURIER Further cardiovascular OUtcomes Research with PCSK9 Inhibition in subjects with Elevated Risk MS Sabatine, RP Giugliano, AC Keech, N Honarpour, SM Wasserman, PS Sever, and TR Pedersen, for the FOURIER Steering Committee & Investigators American College of Cardiology – 66th Annual Scientific Session Late-Breaking Clinical Trial March 17, 2017

An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Background Proprotein convertase subtilisin/kexin type 9 (PCSK9) – Chaperones LDL-R to destruction   circulating LDL-C – Loss-of-fxn genetic variants   LDL-R   LDL-C &  risk of MI evolocumab

Evolocumab – Fully human antiPCSK9 mAb – ~60%  LDL-C – Safe & well-tolerated in Ph 2 & 3 studies – Exploratory data suggested  CV events

An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Sever P & Mackay J. Br J Cardiol 2014;21:91-3 Giugliano RP, et al. Lancet 2012;380:2007-17 Sabatine MS, et al. NEJM 2015;372:1500-9

Objectives In patients with established cardiovascular disease on statin therapy: • Test whether the addition of evolocumab reduces the incidence of major cardiovascular events

• Examine the long-term safety & tolerability of evolocumab • Investigate the efficacy and safety of achieving

unprecedented low levels of LDL-C

An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Trial Organization Executive Committee Marc S. Sabatine (Co-Chair) Robert P. Giugliano

Terje R. Pedersen (Co-Chair) Anthony C. Keech

Peter S. Sever

TIMI Study Group Stephen D. Wiviott (CEC Chair) Marc P. Bonaca (Safety Chair) Sabina Murphy (Director of Stats) Estella Kanevsky

Cheryl Lowe Polly Fish (Director of Ops) Kelly Im (Assoc Dir Stats)

Leah Zahn Tim Abrahamsen Julia Kuder

Sponsor: Amgen Scott M. Wasserman Armando Lira Pineda Ransi Somaratne Huei Wang

Narimon Honarpour Kelly Hanlon Christopher Kurtz

Rob Scott Beat Knusel Thomas Liu

Independent Data Monitoring Committee Charles H. Hennekens (Chair) Felicita Andreotti W. Virgil Brown John W. Newcomer Sarah K. Wood Lipid Monitoring Committee John LaRosa (Chair) Benjamin Ansell An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Colin Baigent Barry R. Davis

Anders Olsson

Trial Design 27,564 high-risk, stable patients with established CV disease (prior MI, prior stroke, or symptomatic PAD)

Screening, Lipid Stabilization, and Placebo Run-in High or moderate intensity statin therapy (± ezetimibe)

LDL-C ≥70 mg/dL or non-HDL-C ≥100 mg/dL

Evolocumab SC

RANDOMIZED DOUBLE BLIND

140 mg Q2W or 420 mg QM

Placebo SC Q2W or QM

Follow-up Q 12 weeks An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Sabatine MS et al. Am Heart J 2016;173:94-101

Endpoints • Efficacy – Primary: CV death, MI, stroke, hosp. for UA, or coronary revasc – Key secondary: CV death, MI or stroke

• Safety – AEs/SAEs – Events of interest incl. muscle-related, new-onset diabetes, neurocognitive – Development of anti-evolocumab Ab (binding and neutralizing)

• TIMI Clinical Events Committee (CEC) – Adjudicated all efficacy endpoints & new-onset diabetes – Members unaware of treatment assignment & lipid levels An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Sabatine MS et al. Am Heart J 2016;173:94-101

Steering Committee Argentina Alberto J. Lorenzatti Australia John Amerena Austria Kurt Huber Belgium André Scheen Brazil José F.K. Saraiva Bulgaria Borislav G. Georgiev Canada Lawrence A. Leiter Chile Jorge L. Cobos China Lixin Jiang Colombia Jose L.A. Mendoza Czech Republic Richard Ceska Denmark Henrik K. Jensen An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Estonia Margus Viigimaa Finland Matti J. Tikkanen France François Schiele Germany Ioanna Gouni-Berthold Greece Loukianos Rallidis Hong Kong Chung-Wah Siu Hungary Kalman Toth Iceland Gudmundur Thorgeirsson India P. Deedwania & V. Chopra Ireland Brendan McAdam Israel Basil S. Lewis Italy Gaetano M. De Ferrari

Japan Atsushi Hirayama Latvia Andrejs Erglis Lithuania Jolita Badariene Malaysia Wan A. Wan Ahmad Mexico G. Gonzalez-Galvez Netherlands J. Wouter Jukema Norway Terje R. Pedersen Philippines Gregorio G. Rogelio Poland Zbigniew A. Gaciong Portugal Jorge Ferreira Romania Gheorghe A. Dan Russia Marat V. Ezhov

Singapore Leslie Tay Slovakia Slavomíra Filipová South Africa Lesley Burgess South Korea Donghoon Choi Spain José López-Miranda Sweden Lennart Nilsson Switzerland François Mach Taiwan Min-Ji Charng Turkey S. Lale Tokgozoglu Ukraine Oleg Kraydashenko United Kingdom Peter S. Sever United States Robert P. Giugliano

Global Enrollment 27,564 patients randomized at 1242 sites in 49 countries between 2/2013 – 6/2015

An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Follow-up Randomized 27,564 patients Evolocumab (N=13,784)

Placebo (N=13,780)

Follow-up median 26 months (IQR 22-30) 2907 patients experienced primary endpoint 1829 experienced key secondary endpoint Premature perm. drug discontinuation

5.6%/yr

5.8%/yr

Withdrew consent

0.29%/yr

0.35%/yr

Lost to follow-up

5 patients

13 patients

Ascertainment for primary endpoint was complete for 99.5% of potential patient-years of follow up An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Baseline Characteristics Characteristic

Value

Age, years, mean (SD)

63 (9)

Male sex (%)

75

Type of cardiovascular disease (%) Myocardial infarction

81

Stroke (non-hemorrhagic)

19

Symptomatic PAD

13

Median time from most recent event ~3 yrs

Cardiovascular risk factor (%) Hypertension

80

Diabetes mellitus

37

Current cigarette use

28

An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Pooled data; no differences between treatment arms

Baseline CV Meds Characteristic

Value

ASA and/or P2Y12 Inhibitor (%)

92

Beta-blocker (%)

76

ACE inhibitor or ARB and/or aldosterone antagonist (%)

78

An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Lipid Lowering Therapy & Lipid Levels at Baseline Characteristic

Value

Statin use (%)*

High-intensity

69

Moderate-intensity

30

Ezetimibe use (%)

5

Median lipid measures (IQR) – mg/dL LDL-C

92 (80-109)

Total cholesterol

168 (151-189)

HDL-C

44 (37-53)

Triglycerides

133 (100-182)

*Per protocol, patients were to be on atorva ≥20 mg/d or equivalent. 1% were on low intensity or intensity data were missing. Statin intensity defined per ACC/AHA 2013 Cholesterol Guidelines. An Academic Research Organization of Brigham and Women’s Hospital and Harvard Medical School

Pooled data; no differences between treatment arms

LDL Cholesterol 100

Placebo

90 LDL Cholesterol (mg/dl)

80 70

59% mean reduction (95%CI 58-60), P