Organon & Co.

Capital Allocation 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.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

This is a revision from the company's prior quarterly dividend rate of $0.28 per share.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

The dividend is payable on June 12, 2025, to stockholders of record at the close of business on May 12, 2025.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

As of March 31, 2025, cash and cash equivalents were $547 million, and debt was $8.96 billion.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

10 11 Q1 2024 Q1 2025 (USD millions) $538 $484 Adjusted EBITDA (65) (41) Less: Net cash interest expense (50) (25) Less: Cash taxes (291) (240) Less: Change in net working capital (23) (32) Less: CapEx $109 $146 Free Cash Flow Before One - Time Costs (62) Less: One - time spin - related costs (41) (75) Less: MSA exit, restructuring, legal settlement, other one - time costs (1) $6 $71 Free Cash Flow (2) Q1 FCF seasonally light, but improved over 2024 1) 2025 includes cash payments associated with restructuring initiatives ($15M), planned exits from supply agreements with Me rck & Co.

SEC original ↗Organon & Co. — Presentation / slide deck (8-K exhibit)EX-99May 1, 2025

(2) Free cash flow represents net cash flows provided by operating activities plus capital expenditures and the effect of exc han ge rate changes on cash and cash equivalents.

SEC original ↗Organon & Co. — Presentation / slide deck (8-K exhibit)EX-99May 1, 2025

“We have reset our capital allocation priorities to accelerate progress towards deleveraging, enabling a path to achieve a net leverage ratio of below 4.0x by year-end.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

manufacturing locations, full-year 2025 guidance estimates and predictions regarding other financial information and metrics, expectations regarding Organon’s collaborations with third parties, and franchise and product performance and strategy expectations for future periods.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

manufacturing locations, full - year 2025 guidance estimates an d predictions regarding other financial information and metrics, expectations regarding Organon s collaborations with third parties, and franchise and product performance and strategy expectations for future perio ds.

SEC original ↗Organon & Co. — Presentation / slide deck (8-K exhibit)EX-99May 1, 2025

10 11 Q1 2024 Q1 2025 (USD millions) $538 $484 Adjusted EBITDA (65) (41) Less: Net cash interest expense (50) (25) Less: Cash taxes (291) (240) Less: Change in net working capital (23) (32) Less: CapEx $109 $146 Free Cash Flow Before One - Time Costs (62) Less: One - time spin - related costs (41) (75) Less: MSA exit, restructuring, legal settlement, other one - time costs (1) $6 $71 Free Cash Flow (2) Q1 FCF seasonally light, but improved over 2024 1) 2025 includes cash payments associated with restructuring initiatives ($15M), planned exits from supply agreements with Me rck & Co.

SEC original ↗Organon & Co. — Presentation / slide deck (8-K exhibit)EX-99May 1, 2025

Full Year Guidance Organon does not provide GAAP financial measures on a forward-looking basis because the company cannot predict with reasonable certainty and without unreasonable effort, the ultimate outcome of legal proceedings, unusual gains and losses, the occurrence of matters creating GAAP tax impacts, and acquisition-related expenses.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

Previous Guidance as of February 13, 2025 Current Guidance Revenue $6.125B-$6.325B Unchanged FX translation headwind ~$200M Unchanged, but with potential upside at current rates Adjusted gross margin 60.0%-61.0% Unchanged SG&A Mid 20% range Unchanged R&D Upper single-digit Unchanged IPR&D* - $6 million Adjusted EBITDA margin (Non-GAAP) 31.0%-32.0% Unchanged Interest ~$510M Unchanged Depreciation ~$135M Unchanged Effective non-GAAP tax rate 22.5%-24.5% Unchanged Fully diluted weighted average shares outstanding ~263M Unchanged *The company does not provide guidance for forward-looking IPR&D and milestone expense.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

Such items include, but are not limited to, acquisition-related expenses, restructuring and related expenses, stock-based compensation, the ultimate outcome of legal proceedings, unusual gains and losses, the occurrence of matters creating GAAP tax impacts and other items not reflective of the company's ongoing operations.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

If underlying assumptions prove inaccurate, or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025

8 Risks and uncertainties include, but are not limited to, expanded brand and class competition in the markets in which Organon operates; trade protection measures and import or export licensing requirements, including the direct and indirect impacts of tariffs (including any potential pharmaceutical sector tariffs), trade sanctions or similar restrictions by the United States or other governments; changes in U.

SEC original ↗Organon & Co. — Earnings release (8-K exhibit)EX-99May 1, 2025