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JP MorganHealthcare Conference

January 12, 2016

Giovanni CaforioChief Executive Officer

1


Forward-Looking InformationThis presentation contains statements about the Company’s future plans and prospects that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated as a result of various important factors, including those discussed in the company’s most recent annual report on Form 10-K and reports on Form 10-Q and Form 8-K. These documents are available from the SEC, the Bristol-Myers Squibb website or from Bristol-Myers Squibb Investor Relations.

In addition, any forward-looking statements represent our estimates only as of the date hereof and should not be relied upon as representing our estimates as of any subsequent date. While we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our estimates change.

This presentation also contains certain non-GAAP financial measures, adjusted to include certain costs, expenses, gains and losses and other specified items. Reconciliations of these non-GAAP financial measures to the most comparable GAAP measures are available on the company’s website at www.bms.com.

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Our Strategic Foundation

People helping patients in their fight against serious disease

I N N O VAT E I M P R O V EI N T E G R AT E

Diversified Specialty BioPharma

Best of BIOTECH

Best of PHARMA

3


2015: Beginning A New Chapter

Leading in Immuno-Oncology Diversified in-line portfolio

A Strong Foundation for Future Growth

Early Trial Stops3FDA Approvals7

43 Global launches

4


Drive business performance

Leadership in Immuno-Oncology

Diversify for long-term growth

Business Development and Capital Allocation

Strategic Priorities

5


2015: Leading in Immuno-Oncology

MELANOMA

LUNG

RENAL

• Only PD-1 indicated for all 2nd lineNSCLC patients

• No testing requirement

• Strong access and reimbursement

• Broad range of treatment options (Mono and combination therapy, 1st and 2nd line, adjuvant)

• First I-O combination regimen approved

• First I-O agent in 2nd line

• Meaningful improvement over a standard of care

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Strong US commercial execution

1/2

1/9

1/16

1/23

1/30 2/

62/

132/

202/

27 3/6

3/13

3/20

3/27 4/

34/

104/

174/

24 5/1

5/8

5/15

5/22

5/29 6/

56/

126/

196/

26 7/3

7/10

7/17

7/24

7/31 8/

78/

148/

218/

28 9/4

9/11

9/18

9/25

10/2

10/9

10/1

610

/23

10/3

011

/611

/13

11/2

011

/27

12/4

12/1

1

I-O Weekly Sales Trends

Total IO Market – Weekly IMS DDD + Xponent

Yervoy

Opdivo

BMS I-OPortfolio

Keytruda

Note: This information is an estimate derived from the use of information under license from the following IMS Health information services: Xponent & DDD weekly dollars, for the period of 1/2/2015 through 12/31/2015. IMS expressly reserves all rights, including rights of copying, distribution and republication.

7



Tumor Study Design Hodgkin Lymphoma

CheckMate -205Monotherapy single arm studyin second line

Head and NeckCheckMate -141

Monotherapy vs. standard of carein second line

Non-Hodgkin Lymphoma

CheckMate -139

Monotherapy single-arm study in relapsed/refractory diffuse largeB-cell lymphoma

BladderCheckMate -275

Monotherapy single arm studyin second line bladder

GlioblastomaCheckMate -143

Monotherapy vs. standard of carein recurrent glioblastoma

1L NSCLCCheckMate -026

Monotherapy vs. chemo in first-line PD-L1 expressers

Potentially Registrational Data

8


2016: Diversifying in Immuno-Oncology

Patients who do not respondto Opdivo +/- Yervoy

Patients who progress after treatment with Opdivo +/- Yervoy

Additional tumors, including where signals are not sufficient

Improve outcomes through combinations

Next wave of innovation: addressing unmet need

9


8 Additional I-O Assetsin Clinical

Development

2016: Diversifying in Immuno-Oncology

NK cell

T cell

BMS assets beginning clinical studies in 2016

Tumor Microenvironment

T Cell Activation

NK Cell Activation

Next wave of innovation: areas of focus Priming & Activation

AntigenPresentation

AntigenRelease

T Cell Trafficking and Infiltration

anti-CSF1R IDO

anti-CD73

anti-LAG3

Urelumab(anti-CD137)

anti-GITR

anti-OX40

Lirilumab(anti-KIR)

10


0%

10%

20%

30%

40%

50%

60%

70%

80%

10/2

4/14

11/2

1/14

12/1

9/14

1/16

/15

2/13

/15

3/13

/15

4/10

/15

5/8/

15

6/5/

15

7/3/

15

7/31

/15

8/28

/15

9/25

/15

AF/V

TE-T

xSh

are

0%

10%

20%

30%

40%

50%

60%

70%

80%

10/2

4/14

11/2

1/14

12/1

9/14

1/16

/15

2/13

/15

3/13

/15

4/10

/15

5/8/

15

6/5/

15

7/3/

15

7/31

/15

8/28

/15

9/25

/15

AF/V

TE-T

x S

hare

U.S. NBRx NOAC Market Share –Cardiologists (AFib + VTE-Tx)

U.S. NBRx NOAC Market Share –All Physicians (AFib + VTE-Tx)

Note: Eliquis and Xarelto (all form strengths) are factored for AF and VTE-Tx indications. Pradaxa and Savaysa are unfactored and include volume across all approved indications. Source: IMS SDI VECTOR. NBRx (New to Brand Rx) = Naïve + Switch to Rx.

Pradaxa TotalEliquis AF/VTE-Tx Savaysa TotalXarelto AF/VTE-TX

Strong performance trends – establishing global leadership

11


Genetically Defined Diseases

Monogenic diseasesSentinel populations

(eg, Duchenne Muscular Dystrophy, Progressive Supranuclear Palsy)

CardiovascularHeart Failure Thrombosis

ImmunoscienceNovel mechanisms

in RA and IBDLupus

Fibrotic DiseasesLungLiver

Kidney

Pursuing Transformational MedicinesBeyond Immuno-Oncology

12


Capital Allocation:A Balanced Approach

Continue to be in a solid financial position:

• Strong balance sheet

• Business development remains a top priority

• Dividend commitment

7th consecutive annual increase

13


Select Recent Partnerships

Immuno-science

Fibrotic DiseasesI-O

Cardio-vascular

Academic Partnerships

14


BMS: Poised for Growth

Significant growth opportunity driven byI-O and Eliquis

Strategic investments behind growth brands

Advancing a diverse and innovative pipeline

Balanced approach to capital allocation

Focused business development

15


JP MorganHealthcare Conference

January 12, 2016

Giovanni CaforioChief Executive Officer

16

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