AstraZeneca

16 March 2016CFA Society, South Florida Chapter

Mitchell Chan, Director, Investor Relations

In order, among other things, to utilise the 'safe harbour' provisions of the US Private Securities Litigation Reform Act 1995, we are providing the following cautionary

statement:

This document contains certain forward-looking statements with respect to the operations, performance and financial condition of the Group, including, among other

things, statements about expected revenues, margins, earnings per share or other financial or other measures. Although we believe our expectations are based on

reasonable assumptions, any forward-looking statements, by their very nature, involve risks and uncertainties and may be influenced by factors that could cause

actual outcomes and results to be materially different from those predicted. The forward-looking statements reflect knowledge and information available at the date of

preparation of this document and AstraZeneca undertakes no obligation to update these forward-looking statements. We identify the forward-looking statements by

using the words 'anticipates', 'believes', 'expects', 'intends' and similar expressions in such statements. Important factors that could cause actual results to differ

materially from those contained in forward-looking statements, certain of which are beyond our control, include, among other things: the loss or expiration of, or

limitations to, patents, marketing exclusivity or trademarks, or the risk of failure to obtain and enforce patent protection; the risk of substantial adverse

litigation/government investigation claims and insufficient insurance coverage; effects of patent litigation in respect of IP rights; exchange rate fluctuations; the risk that

R&D will not yield new products that achieve commercial success; the risk that strategic alliances and acquisitions, including licensing and collaborations, will be

unsuccessful; the impact of competition, price controls and price reductions; taxation risks; the risk of substantial product liability claims; the impact of any delays in the

manufacturing, distribution and sale of any of our products; the impact of any failure by third parties to supply materials or services; the risk of failure of outsourcing;

the risks associated with manufacturing biologics; the risk of delay to new product launches; the difficulties of obtaining and maintaining regulatory approvals for

products; the risk of failure to adhere to applicable laws, rules and regulations; the risk of failure to adhere to applicable laws, rules and regulations relating to anti-

competitive behaviour; the risk that new products do not perform as we expect; failure to achieve strategic priorities or to meet targets or expectations; the risk of an

adverse impact of a sustained economic downturn; political and socio-economic conditions; the risk of environmental liabilities; the risk of occupational health and

safety liabilities; the risk associated with pensions liabilities; the risk of misuse of social medial platforms and new technology; the risks associated with developing our

business in emerging markets; the risk of illegal trade in our products; the risks from pressures resulting from generic competition; the risk of failure to successfully

implement planned cost reduction measures through productivity initiatives and restructuring programmes; economic, regulatory and political pressures to limit or

reduce the cost of our products; the risk that regulatory approval processes for biosimilars could have an adverse effect on future commercial prospects; the impact of

failing to attract and retain key personnel and to successfully engage with our employees; the impact of increasing implementation and enforcement of more stringent

anti-bribery and anti-corruption legislation; and the risk of failure of information technology and cybercrime. Nothing in this presentation / webcast should be construed

as a profit forecast.

2

Forward-looking statements

3

Agenda

Overview & Strategy

Financials

Pipeline

Closing

AstraZeneca: History of innovation What science can do

4

200320011997 200619991913 1993

Founded Founded Merger

2005

Acquisition

2007

Acquisition

2013

Acquisition

2011 2012

Acquisition

1948

Our journey continuesOn track to deliver long-term goals

5

>$45bn1

in 2023

2012-2014Building strong

foundations

2018+Sustainable delivery

and growth

2015-2017Delivering on return

to growth

1. Target is at constant exchange rates (2013) which is equivalent to ~$40bn at today’s exchange rates

6

Three Strategic PrioritiesGreat progress in 2015

Achieve scientific leadership Return to growth Be a great place to work

6 approvals of NMEs or major

LCM projects in major markets

2 Phase III NME starts

12 NME or major LCM

regulatory submissions in major

markets

2 Accelerated reviews included

3 FDA granted Fast Track

1% increase in Total Revenue

to $24,708 million at CER

11% increase in Growth

Platforms revenue contributing

57% of Total Revenue

Respiratory up 7%

Brilinta/Brilique: up 44%

Diabetes up 26%

Emerging Markets up 12%

Japan revenue up 4%

New Oncology contributed

$119 million

Our quarterly employee survey

showed belief in our strategy

stood at 89% vs 86% in 2014

Exceeded our targets for senior

leaders women (42% versus

41%) and country of origin from

an Emerging Market or Japan

(15.6% versus 13%)

Exceeded our target by

screening more than one

million people in Kenya for

hypertension as part of our

Healthy Heart Africa

programme

Capabilities across key technology platforms

7

Focus on three main therapy areas

Neuroscience

Infection &

Vaccines

Respiratory,

Inflammation &

AutoimmunityOncology

TAs

Cardiovascular &

Metabolic Disease

Opportunity-driven

Protein

engineeringBiologics

Small

molecules Immuno-therapies Devices

Personalised healthcare capabilities

Commitment to further focus the portfolio

Be a Great Place to Work

NEW Global R&D Centre &

Corporate Headquarter

Gothenburg, Sweden Gaithersburg, USACambridge, UK

Strategic R&D Centre Strategic R&D Centre

Specialty Products Group

8

61,500employees

worldwide

8,900employees in

R&D

12,500employees in

Manufacturing and Supply

9

R&D productivity increase

2015 2016 2017 2018

Unlocking pipeline valuePublications

Delivering sustainable R&D productivity improvements

2015 2010

552

2010

High-impact publications

Low-impact publications

Medium-impact publications

2015

397

Pip

eli

ne v

alu

e u

nlo

ck

ed

NME & major LCM submissions

Phase III / Registration NMEs

2010 2011 2012 2013 2014 2015

Phase III

Registration

7 76

11

13

15

Reflects expected regulatory submissions of key NMEsand major lifecycle management programmes

High-impact (rating > 15); medium-impact (rating > 5); low-impact (rating < 5) Reflects Phase III / Registration volumes at year-end

Pipeline value

unlocked

Externalisation Revenue and portfolio streamlining as a result

10

R&D productivity & focus provide new opportunities

All opportunities

Inline products

(Portfolio outside

main therapy areas)

Pipeline molecules

(R&D productivity)

Increasing valuee.g. Caprelsa

disposale.g. brodalumab

partnership

Focus on main therapy areas

Product Sales

Cardiovascular

& Metabolic

Disease

Externalisation

RevenueOther Operating

Income

- milestone(s)

- royalties- one-time

payment

Financials

• Total Revenue $24.7bn, +1%

– Growth Platforms: Now 57% of total1, +11%

• Core R&D investment underpinned by

– Core Gross Margin on Product Sales up by 1% point

– Core SG&A cost reduction of 2% and 11% in Q4

– Externalisation Revenue ~$1b; Other Operating Income ~$1.5bn

• Core EPS $4.26, +7%; +22% in Q4 2015

• Commitment to the progressive dividend policy

– Annual dividend of $2.80 per ordinary share

• 2016 Guidance (CER)

– Total Revenue: A low to mid single-digit percent decline

– Core EPS: A low to mid single-digit percent decline

• Future capital-allocation priorities outlined

12

2015: Financial highlights

1. As a percentage of Total Revenue and includes New Oncology as a sixth Growth PlatformAbsolute values at actual exchange rates. Growth rates at CER

FY 2015

$m

%

change

% Total

Revenue

Q4 2015

$m

%

change

Total Revenue 24,708 +1 100 6,399 +2

Product Sales 23,641 (1) 96 6,207 -

Externalisation Revenue 1,067 +140 4 192 +490

Core Cost of Sales (4,119) (6) 17 (1,209) +3

Core Gross Profit 20,589 +2 831 5,190 +2

Core R&D (5,603) +21 23 (1,567) +21

Core SG&A (9,265) (2) 37 (2,461) (11)

Core Tax Rate 16% - - 14% 3% points

Core EPS $4.26 +7 $0.94 +22

Leveraging top-line resilience

13

Profit & Loss

1. Gross Profit as % of Total Revenue reflects Gross Profit derived from Product Sales, divided by Product Sales.Absolute values at actual exchange rates. Growth rates at CER

Building a durable presence in Emerging Markets 3rd fastest-growing pharma MNC

North America

40% of sales

Europe

23% of sales

Rest of World

Established

(ex-Japan)

4% of sales

Japan

9% of sales

Emerging Markets

(ex-China)

14% of sales

China

11% of sales

14

0

3

6

2013 2014 2015

Core R&D investment

Oncology CVMD RIA ING & Other

15

R&D investment underpinned by strong Core Gross Profit

• Manufacturing efficiencies

• Focus on supply chain

• Evolving mix of Product Sales from pipeline

29% 37%42%

29%

28%

32%24%

23%

19%

• Increasing focus on main therapy areas

• Oncology now enjoys the largest share

FY 2016 Core R&D costs are expected

to be at a similar level to FY 2015

based on constant exchange rates

Up-weighted 2015

investment in R&D

Absolute values at actual exchange rates. Growth rates at CER. Gross profit and margin here exclude the impact from Externalisation Revenue

82.0%81.3% 82.6%

$bn

10

15

20

2013 2014 2015

Core Gross Profit & Margin

$bn

2015 Core SG&A cost reduction delivered

• The Company is committed to materially

reducing Core SG&A costs in FY 2016 based

on constant exchange rates

• Productivity programmes and progress

– reducing third-party spend

– optimising functions and processes

– sales and marketing effectiveness

16

Continued focus on Core SG&A reduction

Core SG&A commitment renewed

-0.5

0.5

1.5

2.5

3.5

Q12014

Q22014

Q32014

Q42014

Q12015

Q22015

Q32015

Q42015

$bn SM&M

G&A

% of Total Revenue

FY 2014: 38.5%

FY 2015: 37.5%

~$1bn decline

FY Core

SG&A

(2)%

FY Core

SG&A

ratio

(1)%

Absolute values at actual exchange rates. Growth rates at CER

100

110

120

130

140

150

160

170

180

190

200

31/12/2012 31/12/2013 31/12/2014 31/12/2015

AZN FTSE 100

AstraZeneca has outperformed the largest FTSE 100 companies1

Total Shareholder Return (TSR) since 1 January 2013

Index TSR AstraZeneca vs. FTSE 100

+83%

+18%

17

1 TSR between 1 Jan 2013 and 31 Dec 2015. Source: DatastreamRanking includes the 15 companies with the highest weightings of the FTSE 100 index as per 1 January 2013. Source: Bloomberg

Pipeline

19

2015: Delivering the late-stage pipeline

A great year for patients and science

Iressa

approval (US)

Faslodex 500mg

approval (CN)

saxa/dapa

submission (EU)

cediranib

submission (EU)

CAZ AVI

submission (EU)

selumitinib

Phase III endpoint not met

(uveal melanoma)

saxa/dapa

Complete Response

Letter (US)

PT003

- Phase III readout

- submission (US)

Tagrisso

- submission

- CHMP (EU)

- approval (US)

Brilinta/Brilique

- Phase III PEGASUS

- approval (US)

- CHMP (EU)

- ACS, post-MI

submission (JP)

Zurampic

- submission

- CHMP (EU)

- approval (US)

brodalumab

submission (US, EU)

ZS-9

submission (EU)

Bydureon Pen

approval (JP)

20

Several products in the pipeline have large potential

durva + tremeMultiple cancers

benralizumabSevere asthma, COPD

roxadustatAnaemia

anifrolumabLupus (SLE)

TagrissoLung cancer

LynparzaOvarian, other cancers

ZS-9Hyperkalaemia

acalabrutinibBlood cancers

PT010COPD, asthma

21

AZ Oncology: Scientific leadership in four key platforms Personalised healthcare as key driver

Four disease areas with first or best-in-class cornerstone medicines

Tagrisso,

Iressa, acalabrutinib

Lynparza,

WEE-1, ATR, ATM

Durvalumab,

I/O Combinations

Moxetumomab,

ADC

Immuno-Oncology

Tumor drivers

and resistance

Antibody

conjugates

DNA damage

response

Immuno-

oncology

Tagrisso exemplifies progress being made

Innovative therapy with large potential

22

• First treatment approved for patients with a very

specific form of NSCLC

• Fastest development journey in the company’s

history: 32 months from first-in-man to approval

• Fastest shipment time: 6 hours from approval

• Reinforces ambition in Oncology to deliver six new

medicines to patients by 2020

United States: 3k

EU5: 3k

Japan: 8k

United States: 12k

EU5: 9k

Japan: 18k

United States: 4k

EU5: 3k

Japan: 8k

14kPatients

treated

Adjuvant

1st line

2nd line (T790M)

15kPatients

treated

39kPatients

treated

EG

FR

m N

SC

LC

23

AcalabrutinibSecond-generation BTKi with best-in-class potential

• Long duration of treatment

• Maintaining response requires continuous dosing

• Interruptions or dose reductions can lead to fast

disease progression or resistance

• In NHL, combinations are needed for superior

efficacy and tolerability is critical

Tolerability

issues

Atrial

fibrillation

Rash

Myalgia

(muscle pain)

BruisingArthralgia

(joint pain)

Bleeding

Source: Jain, P. (2015). Outcomes of patients with chronic lymphocytic leukemia after discontinuing ibrutinib. Blood. 125(13):2062-2067

Maddocks, K.J. (2014). Etiology of Ibrutinib Therapy Discontinuation and Outcomes in Patients With Chronic Lymphocytic Leukemia. JAMA. Oncol.doi:10.1001/jamaoncol.2014.218

Farooqui, M. (2015). Atrial Fibrillation in CLL/SLL Patients on Ibrutinib; ASH Abstract# 2933

24

Haematology: Significant growth market in OncologyAccounts for ~1/3 of total Oncology market

Overall market size

Note: Chart data exclude sales of medicines used for supportive care in oncology

Source: Decision Resources, EvaluatePharma, Datamonitor, company reported sales, and IMS

2012

$64bn

2023

$140bn-$150bn

0

10

20

30

40

50

Heme Breast Prostate Lung Ovarian RoM

2012 2023CAGR

2012-20237% 6% 9% 6% 12% 6%

Market projections

($ billion)

~40

20+

1220+

3-5

43

Projected G7 CLL market

53%

23%

23%

1%

Antibodies Chemo TKIs Steroids

2014

$1.8bn

12%2%

84%

<1% 1%

2024

$10.6bn

Source: Decision Resources, NHL, November 2015

CLL=Chronic Lymphocytic Leukaemia

Immunomodulators

25

Lynparza: Backbone in ovarian cancer

Step one

Step two

Step three

Step four

Establish Lynparza as

standard of care in HRD

Expand beyond HRD

with VEGFi combos

Displace chemo in 2L

Enhance efficacy

across segments

through double

combos

Displace chemo in 1L

with triple combos

Lynparza backbone

Lynparza + WEE1 combos

Lynparza + VEGFi combos

WEE1 mono

Lynparza + durvalumab

Lynparza + durvalumab

+ WEE1

Breakthrough

Designation

for Prostate Cancer

26

DNA Damage Response (DDR) Emerging evidence show potentials for cure

AZD0156

(ATM)

AZD6738

(ATR)

1. Maximise

Damage

2. Prevent

Repair Lynparza

(PARP)

AZD1775

(Wee1)

3. Death in

Mitosis

AZD2811

(AurB)

1. Identify tumour

DDR abrogations

2. Identify the

corresponding

DDR

dependencies

3. Exploit DDR

dependencies with

the right DDR

agent or

combination of

agents

Combinations with Durvalumab

27

AstraZeneca IO Targets in Clinical Development

Antigen presentation &

Innate immunity

Vaccines

(Advaxis HPV*, IMCgp100,

IMMTAC)

Oncolytic Virus*

(Omnis VSV-Ifnb)

HER2 Bispecific

ADCTLR 7/8

NKG2A*

Optimising T-cell function and memory

OX40 FP

OX40 hAbNME-2015

PD-L1

PD-1

CTLA-4

CART*

Inhibition by micro-

environment

CCR4*

CXCR2

P-tydylSerineIDO*

STAT3

Chemo

Radiotherapy

*Clinical collaboration

ITK* GITR

IMMTAC*

CXCR4*

p110d* CSF-1R* TGFb*

VEGF* CD73

HDAC IMiD

Greatest unmet medical need is in PD-L1 negative tumours

28

IO: Clinical activity in lung cancer

IO combinations address major unmet medical need:

PD-L1 negative tumours in lung cancer

Source: Internal estimates based on market research. *PD-L1 positive: Patients with moderate/high level of PD-L1 expression; represent ~30%. **PD-L1 negative: Patients with low level of PD-L1 expression or no PD-L1 expression; represent ~70%. Note: Patient number estimates in 2020. EGFRm: 14%, ALKm: 5%

60-70% of patients below

10% PD-L1 expression level

Source: Borghaei, H. (2015). Nivolumab versus Docetaxel in Advanced Nonsquamous Non-Small-Cell Lung Cancer. NEJM, 373, 1627-39.

Nivolumab

MutationSCLC

70k pts

PD-L1 positive*(80k pts)

PD-L1 negative** (186k pts)

EGFR/ALK WT

266k ptsEGFRm

48k pts

ALKm

18k pts

Mono

Combo

Combo

NSCLC SCLCP

D-L

1 s

tatu

s

Com

bo

Ire

ssa

/ co

mb

ina

tio

ns

Time (months)

Overall survival

--

Target two different escape pathways

29

IO: Combination of Durva + Treme

MYSTIC data readout in H1 2017

30

Key pipeline newsflow

H1 2016

• benralizumab - severe asthma

• Brilinta/Brilique - stroke

• Lynparza - gastric cancer

H2 2016

• Brilinta/Brilique - PAD2

• Lynparza - ovarian, breast cancers

• durvalumab - H&N cancer

• acalabrutinib - blood cancer

• selumetinib - lung cancer

Key data readouts

2. Peripheral Arterial Disease

H1 2016

• Brilinta/Brilique - stroke

• saxa/dapa - type-2 diabetes (US)

H2 2016

• benralizumab - severe asthma

(US, EU)

• roxadustat - anaemia (CN)1

• acalabrutinib - blood cancer (US)

Key regulatory submissions

H1 2016

• Zurampic - gout (EU)

• PT003 - COPD (US)

• ZS-9 - hyperkalaemia (US)

• Tagrisso - lung cancer (JP)

H2 2016

• saxa/dapa - type-2 diabetes (EU)

• cediranib - ovarian cancer (EU)

• CAZ AVI - serious infections (EU)

Regulatory decisions

1. Rolling regulatory submission

Closing

Key messages

32

Strategy implementation on track - started second phase of the Journey

Late-stage pipeline progressing ahead of plans

• Science-driven, collaborative culture driving increased R&D productivity

• Steady newsflow expected in 2016

Accelerating return to growth and ambition to become a >$45bn company by 20231

Building a sustainable, durable and more profitable business

• Highest TSR (January 2013 to today) of large-cap FTSE 100

1. Target is at constant exchange rates (2013) which is equivalent to ~$40bn at today’s exchange rates

AstraZeneca

16 March 2016CFA Society, South Florida Chapter

Mitchell Chan, Director, Investor Relations

34

Key late-stage new medicines and lifecycle programmes

Respiratory, Inflammation

& Autoimmunity

Phase III

anifrolumab

IFNAR

Lupus (SLE)

PT010

LAMA/LABA/ICS

COPD

benralizumab

IL-5R

Severe asthma, COPD

brodalumab

IL-17R

Psoriasis

tralokinumab

IL-13

Severe asthma

PT003

LAMA/LABA

COPD

Zurampic

URAT-1

Gout

roxadustat

HIF-PH

Anaemia CKD/ESRD

durvalumab

PD-L1

3L PD-L1 pos. NSCLC

moxetumomab

CD22

HCL

selumetinib

MEK

2L KRASm NSCLC

cediranib

VEGF

PSR ovarian cancer

Other

CAZ AVI

Cephalosporin/BLI

Serious infections

Tagrisso (EU, JP)

EGFR T790M

2L T790Mm NSCLC

Cardiovascular &

Metabolic DiseaseOncology

Under review Phase III Under review Phase III Under review

ZS-9

Potassium binder

Hyperkalaemia

Under review

Brilinta/Brilique

P2Y12

Stroke

Additional uses

Brilinta/Brilique

P2Y12

Peripheral Arterial Disease

Lynparza

PARP

Various indications

Additional uses

Tagrisso

EGFR T790M

Various indications

acalabrutinib

BTKi

Blood cancer

35

Full pipeline of new medicines (NMEs)OncologyRIA CVMD Infection, Neuroscience, Gastrointestinal

1 Includes significant fixed dose combination projects, and parallel indications that are in a separate therapeutic area (See LCM

chart for other parallel indications and oncology combination projects)

# Partnered and/or in collaboration; ¶ Registrational P2/3 study; ψ Completion of the agreement with Acerta Pharma Q1 2016† MEDI-550 does not count toward late-stage NME totals (submitted to EMEA December 2015)

Biotech units: Driving the ‘next wave’ of innovation

36

“Next-wave”

delivery

Around 30 projects

currently in Phase I will

deliver “next wave” of

molecules to late stage

Long-term

sustainability

Advancing potentially

transformative platforms

such as oligonucleotides,

novel proteins, cancer

vaccines and stem cells

Leveraging protein

engineering capabilities for

novel approaches

Planned R&D Centre and Corporate

HQ building

Scientific collaboration is a key driver behind the move

Cambridge UK research centre catalyst for innovation

37

Addenbrooke’s Hospital

The Rosie Hospital

School of Clinical

Medicine

Future hospital site

Cambridge Institute

Laboratory of

Molecular Biology

Site of planned Energy Centre

and R&D Enabling Building

38

14,400Employees in

North America

(23%)

A Global Business61,500 employees in over 100 countries

3,400Employees in

Central and South America

(6%)

20,100Employees in Europe

(excluding Russia)

(33%)

1,700Employees in

Middle East and Africa

(3%)

1,400Employees in

Russia

(2%)

6,500Employees in

Asia Pacific

(excluding China, Japan, and Russia)

(10%)

3,000Employees in

Japan

(5%)

11,000Employees in

China

(5%)Co-locating around 3

strategic R&D centres• Cambridge, UK

(1,600 employees)

• Gaithersburg, Maryland US

(2,900 employees)

• Gothenburg, Sweden

(2,200 employees)