UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): January 10, 2022

BRISTOL-MYERS SQUIBB COMPANY
(Exact Name of Registrant as Specified in its Charter)

Delaware	1-1136	22-0790350	
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)	

430 East 29th Street, 14th Floor
New York, NY, 10016
(Address of Principal Executive Office)

Registrant’s telephone number, including area code: (212) 546-4000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
 
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
 
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
 
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	
 
Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered	
Common Stock, $0.10 Par Value	BMY	New York Stock Exchange	
1.000% Notes due 2025	BMY25	New York Stock Exchange	
1.750% Notes due 2035	BMY35	New York Stock Exchange	
Celgene Contingent Value Rights	CELG RT	New York Stock Exchange	

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01	Regulation FD Disclosure.	

On January 10, 2022, Bristol-Myers Squibb Company (the “Company”) posted an investor presentation to its website at: www.bms.com/investors/events-and-presentations.html.  A copy of the investor presentation is attached as Exhibit 99.1 to this Current Report on Form 8-K.

The information set forth in this Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to the liabilities thereof, nor shall it be incorporated by reference into any filing by the Company under the Exchange Act or under the Securities Act of 1933, as amended, whether made before or after the date hereof regardless of any general incorporation language in such filing. The furnishing of this information hereby shall not be deemed an admission as to the materiality of any such information.

Item 9.01.	Financial Statements and Exhibits.	
 
 (d) Exhibits
 
The following exhibit is included as part of this Current Report on Form 8-K:

 	Exhibit
No.	 	 
Description	
 	 	 	 	
 	99.1	 	Investor presentation of Bristol-Myers Squibb Company dated January 10, 2022.	
 	 	 	 	
 	104	 	The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).	

EXHIBIT INDEX

 	Exhibit
No.	 	Description	
 	 	 	
 	99.1	 	Investor presentation of Bristol-Myers Squibb Company dated January 10, 2022.	
 	 	 	
 	104	 	The cover page from this Current Report on Form 8-K formatted in Inline XBRL (included as Exhibit 101).	

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 	BRISTOL-MYERS SQUIBB COMPANY	
 	 	 	
Dated: January 10, 2022	By:	/s/Kimberly W. Jablonski	
 	Name:	Kimberly M. Jablonski	
 	Title:	Corporate Secretary	

Exhibit 99.1

 January 10, 2022  JP Morgan Presentation  

   Forward Looking Statements and Non-GAAP Financial Information  2  This 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 on the SEC’s website, on 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 includes certain non-generally accepted accounting principles (GAAP) financial measures that we use to describe our company’s performance.  The non-GAAP information presented provides investors with additional useful information but should not be considered in isolation or as substitutes for the related GAAP measures.  Moreover, other companies may define non-GAAP measures differently, which limits the usefulness of these measures for comparisons with such other companies.  We encourage investors to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure.  Also note that a reconciliation of forward-looking non-GAAP financial measures, however, is not provided due to no reasonably accessible or reliable comparable GAAP measures for such statements and the inherent difficulty in forecasting and quantifying such measures that are necessary for such reconciliation. Namely, we are not able to reliably predict the impact of certain specified items or currency exchange rates beyond the next twelve months. As a result, the reconciliation of these non-GAAP measures to the most directly comparable GAAP measures is not available without unreasonable effort. In addition, the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. The variability of the specified items may have a significant and unpredictable impact on our future GAAP results. 

   Strong Replacement Power Drives Growth Through the Decade  3    The Bristol Myers Squibb Story  Continuing strong execution  Expect growth through the decade  Powerful drivers underpin our growth 

 Our Strategic Foundation  4  A differentiated biopharma company focused on innovative medicines for patients with cancer and other serious diseases  BEST OF BIOTECHBEST OF PHARMA  Leading scientific innovationCollaborating at center of the biotech ecosystemLeveraging global scale and agilityDriven by the best people 

 2007 — 2013  2014 — 2018  Today  Our Journey of Transformation  5  Selective acquisitions and divestituresFocused exclusively on innovative medicines  BioPharma Strategy Introduced  Focus on Specialty Medicines  Renewing the Portfolio  Pioneering Immuno-OncologyDivested diabetes business  Deepening innovation engineNew product portfolio launches   

   Driving Growth Through the Decade — A Closer Look  6  ($12B – $14B)  +$8B – $10B  +$10B – $13B  2020 Revenues  Key LOE Brands  In-LineBrandsPrimarilyI-O & Eliquis  2025 Revenues  New Product Portfolio  Growth 2020 - 2025  Growth 2025 - 2029  2025 Revenues  2029Revenues  LOE BrandsPrimarilyEliquis &Opdivo  Additional growth from New ProductPortfolio  AdvancingRobust Pipeline  Additional Optionality from Disciplined Business Development  Maintain low to mid 40s operating margin**          Key LOE Brands = Revlimid, Abraxane, Sprycel, and Pomalyst  Financial projections may contain non promoted sales, BMS promotes only according to label  *At constant exchange rates on a risk-adjusted basis; **Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this forward-looking information  Continuing Business    Growth        Low to mid-single digit revenue CAGR* 

   Strong Replacement Power Drives Growth Through the Decade  7    The Bristol Myers Squibb Story  Continuing strong execution  Expect growth through the decade  Powerful drivers underpin our growth 

 Multiple Growth Drivers — More than Offset LOEs  8  NRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approval.Financial projections may contain non promoted sales, BMS promotes only according to label.*Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this non-GAAP forward-looking information    1. Drive Growth of New Product Portfolio  $25B+ NRA revenuepotential in 2029    3. Advance Early-Stage Pipeline   50+assets    4. Leverage FinancialStrength  $45B - $50B free cash flow*2022-2024    2. Launch Mid toLate-Stage Pipeline  milvexian  BCMA TCE  cendakimab  bempeg  iberdomide  FRa ADC  CC-92480        Foundation of key in-line brands ~$8B - $10B of growth from 2020 - 2025   

               Enabled bystrong cardiovascularinfrastructure  Foundation of Key In-line Brands Contribute $8B - $10B Growth from 2020-2025  9  Maintain leadership in Melanoma & RCC  Expand in metastatic disease incl. Lung & GI  Lead evolution in early-stage disease  A standard of careacross 11 tumors  Drive leadership in NOAC class  Expand NOAC class  Increase treated population     Combined Sales  $8.7B  $9.2B        +$8B -$10B  FOUNDATION  Continued Growth Opportunities  2020 Sales  Additional Sales by 2025  Key In-line Growth Drivers   

 10  Multiple Growth Drivers — More than Offset LOEs    1. Drive Growth of New Product Portfolio  $25B+ NRA revenuepotential in 2029    3. Advance Early-Stage Pipeline   50+assets    4. Leverage FinancialStrength  $45B - $50B free cash flow*2022-2024    2. Launch Mid toLate-Stage Pipeline  milvexian  BCMA TCE  cendakimab  bempeg  iberdomide  FRa ADC  CC-92480        Foundation of key in-line brands ~$8B - $10B of growth from 2020 - 2025    NRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approval.Financial projections may contain non promoted sales, BMS promotes only according to label.*Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this non-GAAP forward-looking information 

 New Product Portfolio To Deliver $10B - $13B of Risk Adjusted Revenue in 2025  11  Growth driver #1  *Other includes: Abecma, Onureg, Inrebic, and rela+nivo FDC     2020  2025   Significantly de-risked portfolio: 9 new products: 6 approved, 3 filedIncreased confidence in expansion opportunitiesZeposia launch in UCBreyanzi 2L+ LBCL deucravacitinib PsA Ph3 underway   2021  2022  2023  2024              Onureg AMLZeposia MSReblozyl 2L MDS  Breyanzi 3L+ LBCLAbecma 5L+Zeposia UC  mavacamten oHCMdeucravacitinib PsOrela+nivo 1L Mel FDCBreyanzi 2L LBCL  Breyanzi 3L+CLL  Reblozyl 1L MDSAbecma 3-5LBreyanzi 3L+ iNHL  Zeposia CD  $10B - $13BRisk-adjusted sales  Other*  Zeposia  Reblozyl  deucravacitinib  mavacamten  Breyanzi    2025  

 Significant Growth By 2029 — $25B+ NRA Revenue Potential  Growth driver #1  rela+nivo FDC  deucravacitinib  mavacamten  $25B+ Non-Risk Adjusted**  2029    $4B+    $4B+    $4B+    $4B+    $3B+    $3B+    $1B+    $1B+  2020  2025   2021  2022  2023  2024  2025   $10B - $13BRisk-adjusted sales  Other*  mavacamten  Reblozyl  Breyanzi  Zeposia  deucravacitinib  Other*  Onureg AMLZeposia MSReblozyl 2L MDS  Breyanzi 3L+ LBCLAbecma 5L+Zeposia UC  mavacamten oHCMdeucravacitinib PsOrela+nivo 1L Mel FDCBreyanzi 2L LBCL  Breyanzi 3L+CLL  Reblozyl 1L MDSAbecma 3-5LBreyanzi 3L+ iNHL  Zeposia CD    New Product Portfolio To Deliver $10B - $13B of Risk Adjusted Revenue in 2025  12  * Other includes: Abecma, Onureg, Inrebic, and rela+nivo FDC ** Non-risk adjusted revenue potential, subject to positive registrational trials and health authority approval   

   Reblozyl: Differentiated Medicine for Anemia — $4B+ Opportunity  13  Notes regarding patient #s: MF & MDS represent combined U.S./EU5 estimates; beta-thal represents U.S. only; noted for each indication in launch year for lead market (e.g. U.S.); patient #s do not include growth of epidemiology over time. NRA = Non-Risk Adjusted Sales, subject to positive registrational trials and health authority approval1 Lower risk MDS patients        Deucravacitinib  Mavacamten  Rela+Nivo FDC  Growth driver #1      Opportunity to Drive Growth in Current Indications:Increase share in ESA refractory populationIncrease adherenceMore frequent monitoring & earlier switching from ESA failures (NCCN update)  1L MDS1  2L RS+ MDS ~8K Pts Beta-thal ~6K Pts  Myelofibrosis  ~14k patients  +19k patients  +9k patients  Expansioninto 1L MDS  Establishment of novel MoA  Entry intoadjacent disease areas    >$4BNRA salesin 2029   

   Mavacamten: First-in-Class Medicine Treating Underlying Disease in Hypertrophic Cardiomyopathy — $4B+ Opportunity  14  1U.S./EU5 market prevalenceNRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approval      Deucravacitinib  Rela+Nivo FDC  Growth driver #1        Mavacamten  Unmet Need:Physicians recognize need for options that address underlying disease vs. treat symptomsDesire by patients & physicians to improve cardiac function and quality of life      HCM patient population  1.3M patients1  Significant HCM pts with obstructive disease (requiring chronic treatment)  60-70%  >$4BNRA salesin 2029  Opportunity to drive significant penetration with a strong profile based on EXPLORER-HCM    + nHCM & additional expansion indications  No current treatment that treats underlying conditionNo differentiated competitors on horizonConcentrated prescriber base at launch  Favorable landscape  Opportunity to increase diagnosis rate over time  20-25%  Roughly double  Future  % Pts Symptomatic  60-80%  Today  Filed in the U.S. & EU; U.S. PDUFA April 28, 2022 

   Deucravacitinib: Selective Inhibitor of TYK2 with Potential Across Multiple Immune-Mediated Diseases — $4B+ Opportunity  15  NRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approvalEpidemiology represents combined U.S./EU5 patient prevalence numbers    Rela+Nivo FDC  Growth driver #1      Mavacamten    Deucravacitinib    Opportunity to Establish Deucravacitinib as Oral of Choice Therapy in PsO:Novel TYK2 inh. with biologic-like efficacy superior to existing oral standard of care (SoC)Favorable safety and tolerability profile      >$4B NRA salesin 2029            +2M Pts  IBD Mod-Severe (UC/CD)  +1M Pts  +2M Pts  Psoriatic Arthritis  ~3M Pts  Psoriasis (Moderate-to-Severe)  Lupus   Opportunity to become oral of choice in mod-to-severe PsO  Broaden into Rheumatology, GI & beyond  Filed in the U.S., EU & Japan; U.S. PDUFA September 10, 2022 

   Relatlimab+nivolumab: First in Class LAG-3 + PD-1 Inhibitor — $4B+ Opportunity  16  Growth driver #1      Mavacamten    Deucravacitinib      Opportunity for relatlimab + Opdivo to be 1st Fixed-dose Combination (FDC) Therapy of Novel LAG-3-blocking Antibody + Anti-PD1Near-term launch opportunity in 1L metastatic melanomaDemonstrated statistically significant & clinically meaningful benefit over Opdivo monotherapyBroad expansion program has potential to extend durability of I-O franchise   Rela+Nivo FDC    Melanoma  NSCLC  1L – Relativity -047  Adjuvant (Stage 3/4): CA 224-098 rela+nivo vs nivo  1L: CA224 -095 rela+nivo+chemo vs pembro+chemo  HCC  1L: CA224 -106 rela+nivo+bev vs nivo+bev  2L IO naïve: CA224 -073rela+nivo vs nivo   1L: CA224 -104 rela+nivo+chemo vs nivo+chemo  Registrational study  POC to trigger registrational study         Planned; not yet enrolling  Ability to leverage ongoing data generation toinform future expansion opportunities  CRC  2L+: CA224 -123rela+nivo vsregorafenib  >$4B NRA salesin 2029    Filed in U.S. & EU; U.S. PDUFA March 19, 2022  NRA: Non-Risk Adjusted Sales subject to positive registrational trials and health authority approval 

 17  Multiple Growth Drivers — More than Offset LOEs    1. Drive Growth of New Product Portfolio  $25B+ NRA revenuepotential in 2029    3. Advance Early-Stage Pipeline   50+assets    4. Leverage FinancialStrength  $45B - $50B free cash flow*2022-2024    2. Launch Mid toLate-Stage Pipeline  milvexian  BCMA TCE  cendakimab  bempeg  iberdomide  FRa ADC  CC-92480        Foundation of key in-line brands ~$8B - $10B of growth from 2020 - 2025    NRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approval.Financial projections may contain non promoted sales, BMS promotes only according to label.*Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this non-GAAP forward-looking information 

         Focused on Disease Areas with Large Commercial Potential  18  milvexian  cendakimab  iberdomide  CC-92480  BCMA TCE  bempeg  FRa ADC  7 Mid to Late-Stage Pipeline Assets   $20B+  $80B+  Growth driver #2  $40B+  $75B+    SignificantCommercial Potential  50+Early-Stage Assets  Thrombosis$19B+  HF $3B+  Renal $7B+  Liver $1B+  Melanoma $7B+  Ovarian $2B+  CRC $7B+  GI $1B+  Prostate $10B+  H&N $2B+  Breast $21B+  Lung $25B+  MM $20B+  NHL $11B+  MDS $1B+  CLL $6B+  AML $1B+  RA $28B+  Psoriasis$20B+  PsA $4B+  Ank. Spond. $1B+  Lupus $1B+  Atopic Derm $4B+  UC $6B+  Crohn’s $13B+  Cardiovascular  Solid Tumor Oncology  Immunology  Hematology  Source: EvaluatePharma 2020 estimates  

   19  Milvexian: Significant Opportunity for Next Generation Anti-Thrombotic – $5B+ Opportunity  Growth driver #2    Optionality for Ph3 program pending SSP Ph2 results        Anti-platelets1SSPACSCAD/PAD  Factor Xa1VTEAFIB    Milvexian$5B+NRA sales    1Represents indications with majority of usage  Potential Universe of Indications  Capitalizing on the Opportunity  Opportunity to improve outcomes for patients on existing treatments  TKR Phase 2 data demonstrate differentiated anti-thrombotic profile  SSP data expected 1H 2022  Registrational program planning in progress  Substantial unmet need persists in thrombotic diseases  SSP = secondary stroke prevention; ACS = acute coronary syndrome; CAD = coronary artery disease; PAD = peripheral artery disease; VTE = venous thromboembolism (prevention and/or treatment-related indications); AFIB = atrial fibrillationNRA = Non-risk adjusted revenue potential, subject to positive registrational trials and health authority approval 

         CELMoD Agents Have the Potential to Replace the Current Foundation of Care  20  1L  2L  3L  4L  Revlimid today    Pomalyst today  Replace Revlimid as foundation of frontline multiple myeloma treatment  iberdomide vision  Replace Pomalyst as foundation of treatment in relapsed refractory multiple myeloma (RRMM)  CC-92480 vision  Vision supported by 4L+ data most recently presented at ASH 2021  iberdomide  CC-92480  Continue to improve oral backbone treatment and leadership in multiple myeloma  CELMoD agents: more potent degraders of cereblon  Growth driver #2   

       MORAb-202: A Novel Folate Receptor Alpha ADC  21  In partnership with EisaiTumors of interest include ovarian, NSQ NSCLC, breast, endometrialHigh addressable population based on range of FR expression  Differentiated payload (eribulin) Demonstrated single agent clinical activity across multiple tumor types  Development plan  Interim analysis of Phase I study ongoing in Japan      ORR*3: 46%DCR*4: 82%(RECIST v1.1*5)  Expansion cohort is ongoing in FRα positive platinum-resistant ovarian cancer and non-small cell lung cancer (NSCLC)  Percentage of change from baseline (%)  Breast   Endometrial   NSCLC  Ovarian   Fallopian tube  Next stepsEvaluating dose range to optimize therapeutic index  Potential to further diversify solid tumor portfolio & extend leading position in Oncology  Growth driver #2 

 22  Multiple Growth Drivers — More than Offset LOEs    1. Drive Growth of New Product Portfolio  $25B+ NRA revenuepotential in 2029    3. Advance Early-Stage Pipeline   50+assets    4. Leverage FinancialStrength  $45B - $50B free cash flow*2022-2024    2. Launch Mid toLate-Stage Pipeline  milvexian  BCMA TCE  cendakimab  bempeg  iberdomide  FRa ADC  CC-92480        Foundation of key in-line brands ~$8B - $10B of growth from 2020 - 2025    NRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approval.Financial projections may contain non promoted sales, BMS promotes only according to label.*Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this non-GAAP forward-looking information 

 Leading Drug Discovery Platforms Drive Our Deep Ph1 / Ph2 Pipeline  1 In development for solid tumors and hematology2 BMS has an exclusive option to license and/or option to acquire3 IND/CTA approved    BCMA TCE  GSPT1 CELMoD(CC-90009)  Anti-SIRPα1(CC-95251)  BET Inhibitor1(CC-90010)  BET Inhibitor (CC-95775)  FXIa Inhibitor  S1PR1 Modulator  TYK2 Inhibitor  Anti-TIGIT  Anti-TIM3  CD3xPSCA2(GEM3PSCA)  STING Agonist  Anti-Fucosyl GM1  Anti-NKG2A3  motolimod  BCMA ADC  milvexian(FXIa Inhibitor)  CD19 NEX T3  BCMA NEX T3  Anti-CTLA-4 NF PB  FAAH/MGLLDual Inhibitor  AR LDD3  FPR-2 Agonist  CD47xCD203  GPRC5D CAR T3  CD33 NKE3  Anti-CD403  IL2-CD253  LSD1 Inhibitor1  TGFβ Inhibitor  MK2 Inhibitor  HSP47  branebrutinib  Imm. Tolerance (Anokion)2  A/I CELMoD (BCM)(CC-99282)  Anti-CTLA-4 NF  BET Inhibitor(BMS-986158)  Anti-IL-8(BMS-986253)  Anti-CTLA-4 PB  LPA1 Antagonist   FA-Relaxin  afimetoran(TLR7/8 Inhibitor)  danicamtiv  Cardiac Myosin Inh.(MYK-224)  IL-12 Fc(BMS-986415)  Anti-CCR83  TIGIT Bispecific  CK1α CELMoD3  BCMA NKE3  ROR1 CAR-T3  Anti-Tau2,3(PRX005)  BTK Inhibitor3  eIF2B Activator3  AHR Antagonist2(IK-175)  NME  ROMK Inhibitor  iberdomide  A/I CELMoD (MM)(CC-92480)  farletuzumab - eribulin ADC  Phase 1: 32 Assets  Phase 1b/2: 27 Assets  POC / Initiation of Registrational Development   Opportunity for>20 POC decisionsnextthree years  Hematology  Oncology  Immunology  CV  Fibrosis  Neuroscience  Legend  Leading Drug Discovery Platforms  CellTherapy  ProteinHomeostasis  Complex Biotherapeutics  Small MoleculeDrug Discovery  Growth driver #3  23 

                     Internal R&D Strengths are Amplified Through Extensive Network ofExternal Partnerships  24  >85Active Collaborations  4INDs Filed 2021  12Licenses Optioned 2021  EXEMPLAR  MMPACT    Mechanisms of Cancer Resistance  TumorMicro- Environment  Immuno-Oncology & Cell Therapy   Oncogenesis  Discovery Biothera-peutics  Small Molecule Drug Discovery  Neuroscience  Inflammation, CV & Fibrosis  Informatics & Predictive Sciences  Cross-Therapeutic  Growth driver #3 

 25  Multiple Growth Drivers — More than Offset LOEs    1. Drive Growth of New Product Portfolio  $25B+ NRA revenuepotential in 2029    3. Advance Early-Stage Pipeline   50+assets    4. Leverage FinancialStrength  $45B - $50B free cash flow*2022-2024    2. Launch Mid toLate-Stage Pipeline  milvexian  BCMA TCE  cendakimab  bempeg  iberdomide  FRa ADC  CC-92480        Foundation of key in-line brands ~$8B - $10B of growth from 2020 - 2025    NRA: Non-Risk Adjusted sales subject to positive registrational trials and health authority approval.Financial projections may contain non promoted sales, BMS promotes only according to label.*Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this non-GAAP forward-looking information 

         Strong Cash Flow Provides for Significant Financial Flexibility  26  * Non-GAAP: There is no reliable or reasonable estimable comparable GAAP metric for this non-GAAP forward-looking information** Future dividend payouts subject to board authorization  Prioritizing Business Development    Strengthening theBalance Sheet    Returning Cash to Shareholders  Continue to execute small & mid-sized bolt-on opportunitiesReplenish and diversify portfolio  Continued debt reduction; ~$12B in maturities from 2022-2024Maintain strong investment-grade credit rating  Continued dividend growth**13th consecutive dividend increase announced Dec ’21Opportunistic share repurchase$15B authorized share repurchase program$5B ASR agreement to be executed Q1’22    Growth driver #4  $45B - $50Bin free cash flow* 2022-2024  Disciplined Capital Allocation 

     Deals over the last 18 months  A further diversified pipeline  Business Development Remains a Top Priority to Complement the Portfolio for Long-Term Growth  27  Oncology  Hematology   Immunology  Cardiovascular  Neurology  Will continue to execute BD in leading scientific areas of high unmet medical need with financial discipline  

   Strong Replacement Power Drives Growth Through the Decade  28    The Bristol Myers Squibb Story  Continuing strong execution  Expect growth through the decade  Powerful drivers underpin our growth 

 2021 Key Milestones  Opdivo (+/- Yervoy)  U.S./EU expected approvals:1L RCC (9ER)1L GC (649, O+Chemo)adj Eso (577)adj MIBC (274)     1L Esophageal (CM-648)    Opdivo return to annual growth  Relatlimab   1L Melanoma w/Opdivo Ph3  Breyanzi  3L+ LBCL U.S.3L+ LBCL EU approval1    2L TE LBCL2L TNE LBCL     3L+ CLL2   Delivered on Our 2021 Commitments  29  1 Expected in 20222 Expected in 20233 Approved after 4 prior lines of therapy4 PDUFA April 28, 2022  Abecma  4L+ MM U.S. 34L+ MM EU approval  Iberdomide + dex  4L+ MM Ph 1b/2a  Deucravacitinib  PsO (2nd study) Ph3U.S. filing    UC Ph2 (POC)  Zeposia  UC U.S.EU approval  Cendakimab  Initiation of Ph3  Factor XIa inh.  Total Knee Replacement VTEp Ph2 (POC)  Mavacamten  oHCM U.S. filingoHCM approval4                                          Milestones represent data read-outs unless otherwise specifiedTo be expanded to include regulatory milestones pending future registrational successes 

 2022 Key Milestones  Opdivo (+/- Yervoy)  U.S./EU expected approvals:1L ESCC (CM-648)Neo-adj lung EFS (CM-816) (U.S.)  relatlimab + Opdivo FDC  1L melanoma U.S. approvalInitiation 2L+ CRC Ph3  bempeg   1L melanoma1L renal1L bladder  Breyanzi  2L LBCL U.S. approval3L+ LBCL EU approval  Abecma  2L+ MM (KarMMa-2) Ph2 (POC)  Iberdomide  Initiation 2L+ MM Ph3 (EXCALIBER)  CC-92480  4L+ MM Ph1/2  Portfolio Depth Provides Significant Near-term Catalysts  30  Milestones represent data read-outs unless otherwise specifiedTo be expanded to include regulatory milestones pending future registrational successes  deucravacitinib  PsO U.S. approvalSLE Ph2 (POC)  cendakimab  AD Ph2 (POC)  mavacamten  oHCM U.S. approvalSRT (VALOR) Ph3Initiation nHCM Ph3   milvexian  SSP Ph2 (POC)  2023/2024 Key Milestones  Opdivo (+/- Yervoy)  Metastatic:1L CRPC (CM-7DX)1L HCC (CM-9DW)    Early Stage:Adj. HCC (CM-9DX)Adj. RCC (CM-914)Peri-adj Lung (CM-77T)Peri-adj MIBC (CM-078)Adj. NSCLC (ANVIL, co-op group)  relatlimab + Opdivo FDC  1L melanoma EU approvalInitiation of 1L Lung 2L HCC (POC)  bempeg   Neo-adj. cis-ineligible MIBC  Breyanzi  3L+ FL 3L+ CLL  Abecma  3L+ MM (KarMMa-3) Ph3  CC-93269BCMA TCE  Initiation of pivotal trial  iberdomide  Initiation of Post transplant maintenance Ph3 H2H vs RevInitiation of NDMM Ph3 H2H vs. Rev  CC-92480  Initiation triplet 2L+ MM Ph3   Reblozyl  1L MDS (ESA naïve) COMMANDS Ph3MF INDEPENDENCE Ph3   deucravacitinib  PsO EU approval PsA Ph3CD & DLE Ph2 (POC)UC (IM011-127) Ph2 (POC)  cendakimab  EoE Ph3  Zeposia  CD Ph3  mavacamten  HFpEF Ph2 EMBARK (POC) 

                     Critical 2022 & 2023 Deliverables to Unlock Value of New Product Portfolio  31  Enable expansion forReblozyl through successful1L MDS COMMANDS trial  deucravacitinib  mavacamten  Deliver successful launch of mavacamtenover the next year  Establish deucravacitinib as oral of choice in moderate to severe Psoriasis  Establish broad access for Zeposia in UC  Build industry-leading cell therapy franchise, anchored on Breyanzi 

           \2022 Net Sales Guidance  2022 Net Sales Guidance  Total Company Sales  ~$47.0B or low single-digit growth  Key LOE Brands  ~$10.5B or double-digit decline   Continuing Business  ~$36.5B or low double-digit growth  2022 Revenue Growth of Continuing Business Offsets Decline of Key LOE Brands, Coupled with Strong Earnings Growth  32  2022 Key LOE Brands = Revlimid & Abraxane; Revlimid sales are expected to be $9.5B - $10B* Non-GAAP EPS guidance assumes constant exchange rates. The Company intends to provide additional 2022 financial guidance during its 2021 fourth quarter earnings conference call on February 4, 2022  Continued growth of in-line business    2022 Diluted Non-GAAP EPS of ~$7.65 - $7.95*    New Product portfolio growth  Operational Execution & Disciplined OpEx Management  

   Significant growth potential of Continuing Business through Key LOEs  Rapidly advancing pipeline with 7 mid-stage programs and over 20 POC decisions in the next 3 years  9 new product launches – 4 medicines with $4B+ non-risk adjusted sales potential*  Financial strength for continued investment in Business Development  Strong Replacement Power Drives Growth Through the Decade  33  IN SUMMARY  Continuing Business Growth  Launches  Advancing pipeline  Optionality  *Non-risk adjusted revenue potential, subject to positive registrational trials and health authority approval 

 January 10, 2022  JP Morgan Presentation