Revenue of $61.2 Billion for the Fourth Quarter, a 3.8 Percent Year-Over-Year Increase

Fourth Quarter GAAP Diluted EPS of $1.40 and Adjusted Diluted EPS of $2.60

Revenue of $238.6 Billion for Fiscal Year 2022, an 11.5 Percent Year-Over-Year Increase

Fiscal Year 2022 GAAP Diluted EPS of $8.04 and Adjusted Diluted EPS of $11.03

AmerisourceBergen Corporation (NYSE: ABC) today reported that in its fiscal year 2022 fourth quarter ended September 30, 2022, revenue increased 3.8 percent to $61.2 billion. Revenue increased 11.5 percent to $238.6 billion for the fiscal year. On the basis of U.S. generally accepted accounting principles (GAAP), diluted earnings per share (EPS) was $1.40 for the September quarter of fiscal 2022, compared to $2.08 in the prior year quarter. Adjusted diluted EPS, which is a non-GAAP measure that excludes items described below, increased 8.8 percent to $2.60 in the fiscal fourth quarter. For fiscal year 2022, diluted EPS increased 8.8 percent to $8.04. For fiscal year 2022, adjusted diluted EPS increased 19.1 percent to $11.03.

“AmerisourceBergen delivered strong performance in our 2022 fiscal year as our team’s execution excellence allowed us to deliver on our strategic priorities. Our leading capabilities in pharmaceutical distribution and manufacturer solutions enable us to play our core role in advancing pharmaceutical innovation and access,” said Steven H. Collis, Chairman, President & Chief Executive Officer of AmerisourceBergen.

“United by our purpose, our team members have positioned us well to execute on our long-term strategic vision of expanding our leadership in distribution while continuing to grow our higher-margin and higher-growth businesses,” Mr. Collis continued. “As we enter a new fiscal year, we are uniquely positioned to deliver long-term value creation to our stakeholders as we advance our foundation, enhance our capabilities, and invest in innovation to further drive our differentiation.”

Fourth Quarter Fiscal Year 2022 Summary Results

Below, AmerisourceBergen presents descriptive summaries of the Company’s GAAP and adjusted (non-GAAP) quarterly and fiscal year results. In the tables that follow, GAAP results and GAAP to non-GAAP reconciliations are presented. For more information related to non-GAAP financial measures, including adjustments made in the periods presented, please refer to the Supplemental Information Regarding Non-GAAP Financial Measures following the tables.

Fourth Quarter GAAP Results

• Revenue: In the fourth quarter of fiscal 2022, revenue was $61.2 billion, up 3.8 percent compared to the same quarter in the previous fiscal year, reflecting a 4.7 percent increase in U.S. Healthcare Solutions revenue and a 2.7 percent decrease in revenue within International Healthcare Solutions due to the negative impact of foreign currency translation.

• Gross Profit: Gross profit in the fiscal 2022 fourth quarter was $2.0 billion, a 4.1 percent decrease compared to the same period in the previous fiscal year. Gross profit was unfavorably impacted by LIFO expense of $104.8 million in the current year period versus a LIFO credit of $42.5 million in the previous fiscal year period and a decline in gross profit within International Healthcare Solutions due to the negative impact of foreign currency translation. The decrease was offset in part by an increase in gross profit in U.S. Healthcare Solutions. Gross profit as a percentage of revenue was 3.25 percent, a decline of 26 basis points from the prior year quarter.

• Operating Expenses: In the fourth quarter of fiscal 2022, operating expenses were $1.5 billion, up 1.6 percent from the same period last fiscal year, primarily a result of an increase in distribution, selling, and administrative expenses. Operating expenses as a percentage of revenue in the fiscal 2022 fourth quarter were 2.50 percent compared to 2.56 percent for the same period in the previous fiscal year.

• Operating Income: In the fiscal 2022 fourth quarter, operating income was $454.5 million versus $561.9 million in the prior year quarter due to the decrease in gross profit and increase in operating expenses. Operating income as a percentage of revenue was 0.74 percent in the fourth quarter of fiscal 2022 compared to 0.95 percent for the same period in the previous fiscal year.

• Interest Expense, Net: In the fiscal 2022 fourth quarter, net interest expense of $51.5 million was down 5.6 percent versus the prior year quarter due to an increase in interest income as a result of higher investment interest rates.

• Effective Tax Rate: The effective tax rate was 21.9 percent for the fourth quarter of fiscal 2022. This compares to 21.2 percent in the prior year quarter.

• Diluted Earnings Per Share: Diluted earnings per share was $1.40 in the fourth quarter of fiscal 2022 compared to $2.08 in the previous fiscal year fourth quarter.

• Diluted Shares Outstanding: Diluted weighted average shares outstanding for the fourth quarter of fiscal 2022 were 210.0 million, a 0.4 percent decline versus the prior fiscal year fourth quarter primarily due to share repurchases, partially offset by stock option exercises and restricted stock vesting.

Fourth Quarter Adjusted (non-GAAP) Results

• Revenue: No adjustments were made to the GAAP presentation of revenue. In the fourth quarter of fiscal 2022, revenue was $61.2 billion, up 3.8 percent compared to the same quarter in the previous fiscal year, reflecting a 4.7 percent increase in U.S. Healthcare Solutions revenue and a 2.7 percent decrease in revenue within International Healthcare Solutions due to the negative impact of foreign currency translation.

• Adjusted Gross Profit: Adjusted gross profit in the fiscal 2022 fourth quarter was $2.1 billion, which was up 4.8 percent compared to the same period in the previous fiscal year due to an increase in gross profit in U.S. Healthcare Solutions, partially offset by a decline in gross profit within International Healthcare Solutions due to the negative impact of foreign currency translation. Adjusted gross profit as a percentage of revenue was 3.44 percent in the fiscal 2022 fourth quarter, an increase of 4 basis points when compared to the prior year quarter.

• Adjusted Operating Expenses: In the fourth quarter of fiscal 2022, adjusted operating expenses were $1.4 billion, an increase of 3.8 percent compared to the same period in the previous fiscal year primarily due to an increase in distribution, selling, and administrative expenses compared to the prior year quarter. Adjusted operating expenses as a percentage of revenue in the fiscal 2022 fourth quarter was 2.23 percent, flat when compared to the prior year quarter.

• Adjusted Operating Income: In the fiscal 2022 fourth quarter, adjusted operating income of $741.5 million increased 6.8 percent from the prior year quarter due to a 14.0 percent increase in U.S. Healthcare Solutions' operating income, partially offset by a 12.6 percent decrease in operating income within International Healthcare Solutions due to the negative impact of foreign currency translation. Adjusted operating income as a percentage of revenue was 1.21 percent in the fiscal 2022 fourth quarter, an increase of 3 basis points when compared to the prior year quarter.

• Interest Expense, Net: No adjustments were made to the GAAP presentation of net interest expense. In the fiscal 2022 fourth quarter, net interest expense of $51.5 million was down 5.6 percent versus the prior year quarter due to an increase in interest income as a result of higher investment interest rates.

• Adjusted Effective Tax Rate: The adjusted effective tax rate was 19.8 percent for the fourth quarter of fiscal 2022 compared to 20.3 percent in the prior year quarter.

• Adjusted Diluted Earnings Per Share: Adjusted diluted earnings per share was up 8.8 percent to $2.60 in the fourth quarter of fiscal 2022 compared to $2.39 in the previous fiscal year fourth quarter.

• Diluted Shares Outstanding: No adjustments were made to the GAAP presentation of diluted shares outstanding. Diluted weighted average shares outstanding for the fourth quarter of fiscal 2022 were 210.0 million, a 0.4 percent decline versus the prior fiscal year fourth quarter primarily due to share repurchases, partially offset by stock option exercises and restricted stock vesting.

Segment Discussion

The Company is organized geographically based upon the products and services it provides to its customers. In the first quarter of fiscal 2022, the Company re-aligned its reporting structure under two reportable segments: U.S. Healthcare Solutions and International Healthcare Solutions. U.S. Healthcare Solutions consists of the legacy Pharmaceutical Distribution Services reportable segment (excluding Profarma), MWI Animal Health, Xcenda, Lash Group, and ICS 3PL. International Healthcare Solutions consists of Alliance Healthcare, World Courier, Innomar, Profarma, and Profarma Specialty (until it was divested in June 2022). The Company’s previously reported segment results have been revised to conform to its re-aligned reporting structure.

U.S. Healthcare Solutions Segment

U.S. Healthcare Solutions revenue was $54.8 billion, an increase of 4.7 percent compared to the same quarter in the prior fiscal year primarily due to overall market growth and increased sales to specialty physician practices, and was partially offset by a decline in sales of commercial COVID-19 treatments. Segment operating income of $578.4 million in the fourth quarter of fiscal 2022 was up 14.0 percent compared to the same period in the previous fiscal year due to an increase in gross profit, primarily due to sales to specialty physician practices and fees earned from the distribution of government-owned COVID-19 treatments.

International Healthcare Solutions

Revenue in International Healthcare Solutions was $6.4 billion in the fourth quarter of fiscal 2022, a decrease of 2.7 percent compared to the same period in the prior fiscal year. Operating income within International Healthcare Solutions decreased 12.6 percent to $163.1 million in the fourth quarter of fiscal 2022. The period over period declines were due to the negative impact of foreign currency translation resulting from our Alliance Healthcare business.

Fiscal Year 2022 Summary Results

Summary Fiscal Year GAAP Results

In fiscal year 2022, GAAP diluted EPS was $8.04 compared to $7.39 in the prior fiscal year. Revenue increased 11.5 percent from last fiscal year to $238.6 billion. Gross profit increased 19.5 percent to $8.3 billion primarily due to increases in gross profit within International Healthcare Solutions, including the full year impact of the June 2021 Alliance Healthcare acquisition, and within U.S. Healthcare Solutions, partially offset by a LIFO expense in the current year versus a credit in the previous fiscal year and less favorable gains from antitrust litigation settlements. Operating expenses increased 29.2 percent primarily due to an increase in expenses as a result of the June 2021 acquisition of Alliance Healthcare. Operating income increased 0.5 percent due to higher gross profit, which was largely offset by higher operating expenses. Diluted weighted average shares outstanding in fiscal 2022 were 211.2 million, up 1.3 percent from the prior fiscal year resulting from stock option exercises, restricted stock vesting, and the June 2021 issuance of 2 million shares of the Company's common stock to Walgreens Boots Alliance, Inc. ("WBA") in connection with the acquisition of Alliance Healthcare, partially offset by share repurchases.

Summary Fiscal Year Adjusted (non-GAAP) Results

In fiscal year 2022, adjusted diluted EPS was $11.03 compared to $9.26 in the prior fiscal year. Revenue increased 11.5 percent to $238.6 billion. Adjusted gross profit increased by $1.8 billion, or 27.9 percent, from the prior fiscal year to $8.4 billion due to the increases in gross profit within International Healthcare Solutions, including the full year impact of the June 2021 Alliance Healthcare acquisition, and within U.S. Healthcare Solutions. Adjusted operating expenses increased 33.5 percent to $5.2 billion primarily due to the June 2021 acquisition of Alliance Healthcare. Adjusted operating income increased 19.5 percent to $3.2 billion due to the increase in gross profit associated with the June 2021 acquisition of Alliance Healthcare, increased sales to specialty physician practices, and fees earned from the distribution of government-owned COVID-19 treatments. Adjusted operating income margin increased 9 basis points to 1.33 percent, primarily due to fees earned from the distribution of government-owned COVID-19 treatments.

Recent Company Highlights & Milestones

• Robert P. Mauch was appointed Executive Vice President and Chief Operating Officer effective October 1, 2022. Prior to this, he served as the Company's Executive Vice President and Group President. In his new role, Mr. Mauch will oversee all AmerisourceBergen operations.

• AmerisourceBergen convened healthcare industry executives, community oncology providers, and other patient-care advocates for its first-ever Disparities in Cancer Care Summit. During the event, attendees discussed pressing issues related to health equity in cancer care.

Dividend Declaration

On November 2, 2022, the Company's Board of Directors declared a quarterly dividend of $0.485 per common share, an increase in its quarterly dividend rate from $0.46 per common share. The quarterly dividend of $0.485 per common share will be payable November 28, 2022, to stockholders of record at the close of business on November 14, 2022.

Fiscal Year 2023 Expectations

The Company does not provide forward-looking guidance on a GAAP basis as certain financial information, the probable significance of which cannot be determined, is not available and cannot be reasonably estimated. Please refer to the Supplemental Information Regarding Non-GAAP Financial Measures following the tables for additional information.

Fiscal Year 2023 Expectations on an Adjusted (non-GAAP) Basis

AmerisourceBergen has introduced its fiscal year 2023 financial guidance, which aligns with the initial commentary provided at its June 2022 investor day. Growth rates are on an as reported basis unless constant currency basis is indicated. The Company expects:

• Revenue growth to be in the range of 5 to 7 percent;
  • On a constant currency basis, revenue growth to be in the range of 6 to 8 percent;
  • U.S. Healthcare Solutions revenue growth to be in the range of 6 to 8 percent;
  • International Healthcare Solutions revenue decline to be in the range of 1 to 5 percent;
    • International Healthcare Solutions constant currency revenue growth to be in the range of 8 to 12 percent;
• Adjusted diluted earnings per share to be in the range of $11.30 to $11.60, representing growth of 2 to 5 percent;
  • On a constant currency basis, adjusted diluted earnings per share growth to be in the range of 4 to 7 percent;
  • Excluding contributions related to COVID-19, adjusted diluted earnings per share growth to be in the range of 7 to 9 percent;
    • On a constant currency basis excluding contributions related to COVID-19, adjusted diluted earnings per share growth to be in the range of 9 to 11 percent

Additional expectations include:

• Adjusted operating income growth to be in the range of 0 to 3 percent;
  • On a constant currency basis, adjusted operating income growth to be in the range of 3 to 6 percent;
  • Excluding contributions related to COVID-19, adjusted operating income growth to be in the range of 3 to 5 percent;
    • On a constant currency basis, excluding contributions related to COVID-19, adjusted operating income growth to be in the range of 6 to 8 percent;
  • U.S. Healthcare Solutions segment operating income growth to be in the range of 2 to 4 percent;
    • Excluding contributions related to COVID-19, U.S. Healthcare Solutions segment operating income growth to be in the range of 5 to 7 percent;
  • International Healthcare Solutions segment operating income decline to be in the range of 3 to 7 percent;
    • On a constant currency basis, International Healthcare Solutions segment operating income growth to be in range of 5 to 9 percent;
    • Excluding contributions related to COVID-19, International Healthcare Solutions segment operating income decline to be in the range of 1 to 5 percent;
      • On a constant currency basis excluding contributions related to COVID-19, International Healthcare Solutions segment operating income growth to be in the range of 7 to 11 percent;
    • Excluding the impact of acquisitions and divestitures, International Healthcare Solutions segment operating income decline to be in the range of 7 to 11 percent;
• Adjusted effective tax rate to be approximately 20 percent to 21 percent;
• Adjusted free cash flow to be approximately $2 billion;
• Capital expenditures in the $500 million range; and
• Weighted average diluted shares are expected to be approximately 207 to 209 million for the fiscal year.

Conference Call & Slide Presentation

The Company will host a conference call to discuss the results at 8:30 a.m. ET on November 3, 2022. A slide presentation for investors has also been posted on the Company's website at investor.amerisourcebergen.com. Participating in the conference call will be:

• Steven H. Collis, Chairman, President & Chief Executive Officer

• James F. Cleary, Executive Vice President & Chief Financial Officer

The dial-in number for the live call will be (844) 200-6205. From outside the United States and Canada, dial +1 (929) 526-1599. The access code for the call will be 053465. The live call will also be webcast via the Company’s website at investor.amerisourcebergen.com. Users are encouraged to log on to the webcast approximately 10 minutes in advance of the scheduled start time of the call.

Replays of the call will be made available via telephone and webcast. A replay of the webcast will be posted on investor.amerisourcebergen.com approximately two hours after the completion of the call and will remain available for 30 days. The telephone replay will also be available approximately two hours after the completion of the call and will remain available for seven days. To access the telephone replay from within the U.S. and Canada, dial (866) 813-9403. From outside the U.S. and Canada, dial +44 (204) 525-0658. The access code for the replay is 997664.

Upcoming Investor Events

AmerisourceBergen management will be attending the following investor conference in the coming months:

• J.P. Morgan Healthcare Conference, January 9-12, 2023.

Please check the website for updates regarding the timing of the live presentation webcasts, if any, and for replay information.

About AmerisourceBergen

AmerisourceBergen fosters a positive impact on the health of people and communities around the world by advancing the development and delivery of pharmaceuticals and healthcare products. As a leading global healthcare company, with a foundation in pharmaceutical distribution and solutions for manufacturers, pharmacies and providers, we create unparalleled access, efficiency and reliability for human and animal health. Our more than 43,000 global team members power our purpose: We are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #10 on the Fortune 500 with more than $200 billion in annual revenue. Learn more at investor.amerisourcebergen.com.

AmerisourceBergen’s Cautionary Note Regarding Forward-Looking Statements

Certain of the statements contained in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Securities Exchange Act”). Words such as “expect,” “likely,” “outlook,” “forecast,” “would,” “could,” “should,” “can,” “project,” “intend,” “plan,” “continue,” “sustain,” “synergy,” “on track,” “believe,” “seek,” “estimate,” “anticipate,” “may,” “possible,” “assume,” variations of such words, and similar expressions are intended to identify such forward-looking statements. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances and speak only as of the date hereof. These statements are not guarantees of future performance and are based on assumptions and estimates that could prove incorrect or could cause actual results to vary materially from those indicated. Among the factors that could cause actual results to differ materially from those projected, anticipated, or implied are the following: the effect of and uncertainties related to the ongoing COVID-19 pandemic (including any government responses thereto) and any continued recovery from the impact of the COVID-19 pandemic; our ability to achieve and maintain profitability in the future; our ability to respond to general economic conditions, including elevated levels of inflation; our ability to manage our growth effectively and our expectations regarding the development and expansion of our business; the impact on our business of the regulatory environment and complexities with compliance; unfavorable trends in brand and generic pharmaceutical pricing, including in rate or frequency of price inflation or deflation; competition and industry consolidation of both customers and suppliers resulting in increasing pressure to reduce prices for our products and services; changes in the United States healthcare and regulatory environment, including changes that could impact prescription drug reimbursement under Medicare and Medicaid and declining reimbursement rates for pharmaceuticals; increasing governmental regulations regarding the pharmaceutical supply channel; continued federal and state government enforcement initiatives to detect and prevent suspicious orders of controlled substances and the diversion of controlled substances; continued prosecution or suit by federal and state governmental entities and other parties (including third-party payors, hospitals, hospital groups and individuals) of alleged violations of laws and regulations regarding controlled substances, and any related disputes, including shareholder derivative lawsuits; increased federal scrutiny and litigation, including qui tam litigation, for alleged violations of laws and regulations governing the marketing, sale, purchase and/or dispensing of pharmaceutical products or services, and associated reserves and costs; failure to comply with the Corporate Integrity Agreement; the outcome of any legal or governmental proceedings that may be instituted against us, including material adverse resolution of pending legal proceedings; the retention of key customer or supplier relationships under less favorable economics or the adverse resolution of any contract or other dispute with customers or suppliers; changes to customer or supplier payment terms, including as a result of the COVID-19 impact on such payment terms; the possibility that various conditions to the consummation of the acquisition of PharmaLex may not be satisfied or that their satisfaction may be delayed; uncertainties as to the timing of the consummation of the acquisition of PharmaLex; unexpected costs, charges or expenses resulting from the acquisition of PharmaLex; the integration of the Alliance Healthcare and PharmaLex businesses into the Company being more difficult, time consuming or costly than expected; the Company’s, Alliance Healthcare’s or PharmaLex’s failure to achieve expected or targeted future financial and operating performance and results; the effects of disruption from the acquisition and related strategic transactions on the respective businesses of the Company, Alliance Healthcare and PharmaLex, and the fact that the acquisition and related strategic transactions may make it more difficult to establish or maintain relationships with employees, suppliers and other business partners; the acquisition of businesses, including the acquisition of the Alliance Healthcare and PharmaLex businesses and related strategic transactions, that do not perform as expected, or that are difficult to integrate or control, or the inability to capture all of the anticipated synergies related thereto or to capture the anticipated synergies within the expected time period; risks associated with the strategic, long-term relationship between Walgreens Boots Alliance, Inc. and the Company, including with respect to the pharmaceutical distribution agreement and/or the global generic purchasing services arrangement; managing foreign expansion, including noncompliance with the U.S. Foreign Corrupt Practices Act, anti-bribery laws, economic sanctions and import laws and regulations; our ability to respond to financial market volatility and disruption; changes in tax laws or legislative initiatives that could adversely affect the Company’s tax positions and/or the Company’s tax liabilities or adverse resolution of challenges to the Company’s tax positions; loss, bankruptcy or insolvency of a major supplier, or substantial defaults in payment, material reduction in purchases by or the loss, bankruptcy or insolvency of a major customer, including as a result of COVID-19; financial market volatility and disruption; financial and other impacts of COVID-19 on our operations or business continuity; changes to the customer or supplier mix; malfunction, failure or breach of sophisticated information systems to operate as designed; risks generally associated with cybersecurity; risks generally associated with data privacy regulation and the international transfer of personal data; financial and other impacts of macroeconomic and geopolitical trends and events, including the unfolding situation in Russia and Ukraine and its regional and global ramifications; natural disasters or other unexpected events, such as additional pandemics, that affect the Company’s operations; the impairment of goodwill or other intangible assets (including any additional impairments with respect to foreign operations), resulting in a charge to earnings; the Company’s ability to manage and complete divestitures; the disruption of the Company’s cash flow and ability to return value to its stockholders in accordance with its past practices; interest rate and foreign currency exchange rate fluctuations; declining economic conditions and increases in inflation in the United States and abroad; and other economic, business, competitive, legal, tax, regulatory and/or operational factors affecting the Company’s business generally. Certain additional factors that management believes could cause actual outcomes and results to differ materially from those described in forward-looking statements are set forth (i) in Item 1A (Risk Factors), in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2021 and elsewhere in that report and (ii) in other reports filed by the Company pursuant to the Securities Exchange Act. The Company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by the federal securities laws.

AMERISOURCEBERGEN CORPORATION

FINANCIAL SUMMARY

(in thousands, except per share data)

(unaudited)

________________________________________

¹ Includes a $104.8 million LIFO expense and Turkey foreign exchange remeasurement expense of $12.4 million in the three months ended September 30, 2022. Includes a $42.5 million LIFO credit and $21.4 million of gains from antitrust litigation settlements in the three months ended September 30, 2021.

² Includes an $8.1 million loss on the currency remeasurement of deferred tax assets relating to Swiss tax reform, Turkey foreign exchange remeasurement expense of $6.1 million, a $4.8 million gain on the remeasurement of an equity investment, and a $3.7 million reduction to the previously recognized gain on the sale of businesses in the three months September 30, 2022. Includes a $64.7 million gain on the remeasurement of an equity investment, a $14.0 million impairment of a non-customer note receivable, and a $2.3 million loss on the currency remeasurement of deferred tax assets relating to Swiss tax reform in the three months ended September 30, 2021.

AMERISOURCEBERGEN CORPORATION

FINANCIAL SUMMARY

(in thousands, except per share data)

(unaudited)

________________________________________

¹ Includes a $67.2 million LIFO expense, Turkey foreign exchange remeasurement expense of $40.0 million, and a $1.8 million gain from antitrust litigation settlements in the fiscal year ended September 30, 2022. Includes a $203.0 million LIFO credit and $168.8 million of gains from antitrust litigation settlements in the fiscal year ended September 30, 2021.

² The goodwill impairments related to the Company's non-wholly-owned subsidiary in Brazil.

³ Includes a $56.2 million gain on the sale of non-core businesses, a $14.4 million loss on the currency remeasurement of deferred tax assets relating to Swiss tax reform, Turkey foreign exchange remeasurement expense of $11.9 million, and a $4.8 million gain on the remeasurement of an equity investment in the fiscal year ended September 30, 2022. Includes a $64.7 million gain on the remeasurement of an equity investment, a $14.0 million impairment of a non-customer note receivable, and a $3.4 million loss on the currency remeasurement of deferred tax assets relating to Swiss tax reform in the fiscal year ended September 30, 2021.

⁴ Includes $127.6 million of expense relating to UK tax reform, $73.8 million of expense relating to Swiss tax reform, and a $20.4 million adjustment of discrete tax benefits primarily attributable to the income tax deductions resulting from the permanent shutdown of the PharMEDium business in the fiscal year ended September 30, 2021.

AMERISOURCEBERGEN CORPORATION

GAAP TO NON-GAAP RECONCILIATIONS

(in thousands, except per share data)

(unaudited)

________________________________________

¹ Includes tax expense relating to Swiss tax reform and a loss on the currency remeasurement of the related deferred tax assets, the latter of which is recorded within Other Loss (Income), Net.

Note: For more information related to non-GAAP financial measures, refer to the section titled "Supplemental Information Regarding Non-GAAP Financial Measures" of this release.

AMERISOURCEBERGEN CORPORATION

GAAP TO NON-GAAP RECONCILIATIONS

(in thousands, except per share data)

(unaudited)

________________________________________

¹ Includes tax expense relating to Swiss tax reform and a loss on the currency remeasurement of the related deferred tax assets, the latter of which is recorded within Other Loss (Income), Net.

² The sum of the components does not equal the total due to rounding.

Note: For more information related to non-GAAP financial measures, refer to the section titled "Supplemental Information Regarding Non-GAAP Financial Measures" of this release.

AMERISOURCEBERGEN CORPORATION

GAAP TO NON-GAAP RECONCILIATIONS

(in thousands, except per share data)

(unaudited)

________________________________________

¹ Includes tax expense relating to Swiss tax reform and a loss on the currency remeasurement of the related deferred tax assets, the latter of which is recorded within Other Income, Net.

² The sum of the components does not equal the total due to rounding.

Note: For more information related to non-GAAP financial measures, refer to the section titled "Supplemental Information Regarding Non-GAAP Financial Measures" of this release.

AMERISOURCEBERGEN CORPORATION

GAAP TO NON-GAAP RECONCILIATIONS

(in thousands, except per share data)

(unaudited)