<SEC-DOCUMENT>0001193125-17-363420.txt : 20171207
<SEC-HEADER>0001193125-17-363420.hdr.sgml : 20171207
<ACCEPTANCE-DATETIME>20171207090632
ACCESSION NUMBER:		0001193125-17-363420
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20171207
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20171207
DATE AS OF CHANGE:		20171207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PFIZER INC
		CENTRAL INDEX KEY:			0000078003
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				135315170
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03619
		FILM NUMBER:		171243656

	BUSINESS ADDRESS:	
		STREET 1:		235 E 42ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2125732323

	MAIL ADDRESS:	
		STREET 1:		235 E 42ND ST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PFIZER CHARLES & CO INC
		DATE OF NAME CHANGE:	19710908
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d481310d8k.htm
<DESCRIPTION>8-K
<TEXT>
<HTML><HEAD>
<TITLE>8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT
TO SECTION 13 OR 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of report (Date of earliest event reported): December&nbsp;7, 2017 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>PFIZER INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name
of registrant as specified in its charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>1-3619</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>13-5315170</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>235 East 42nd Street</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>New York, New York</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>10017</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Registrant&#146;s telephone number, including area code: (212)&nbsp;733-2323 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
Name or Former Address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Emerging growth company&nbsp;&nbsp;&#9744;
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">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&nbsp;13(a) of the Exchange Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;8.01 Other Events </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On December&nbsp;7, 2017, Pfizer Inc. (the &#147;Company&#148;) issued a press release announcing the commencement of (i)&nbsp;a private offer to exchange any
and all of its outstanding &pound;1,500,000,000 6.500&nbsp;per cent. Notes due 2038 (the &#147;2038 Notes&#148;) for newly issued debt securities of the Company, which exchange offer is being made exclusively pursuant to the Offering Memorandum
dated December&nbsp;7, 2017 and related Notice of Guaranteed Delivery, (ii)&nbsp;an offer to purchase for cash any and all of its outstanding 2038 Notes from holders thereof, which offer to purchase is being made exclusively pursuant to the Offer to
Purchase dated December&nbsp;7, 2017 and related Notice of Guaranteed Delivery, (iii)&nbsp;an offer to purchase for cash (the &#147;2021 Notes Tender Offer&#148;) any and all of its outstanding &#128;2,000,000,000 5.750&nbsp;per cent. Notes due 2021
(the &#147;2021 Notes&#148;) from holders thereof and (iv)&nbsp;a solicitation of consents from the holders of the 2021 Notes to certain amendments to the 2021 Notes and to the indenture dated as January&nbsp;30, 2001, as amended and supplemented by
the second supplemental indenture dated as of June&nbsp;2, 2009, pursuant to which the 2021 Notes were issued (the &#147;Consent Solicitation&#148; and, together with the 2021 Notes Tender Offer, the &#147;2021 Notes Offer&#148;). The 2021 Notes
Offer is being made exclusively pursuant to the Offer to Purchase and Consent Solicitation Statement dated December&nbsp;7, 2017. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">A copy of the
Company&#146;s press release announcing the foregoing transactions is filed herewith as Exhibit 99.1 and is incorporated herein by reference. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;9.01 Financial Statements and Exhibits </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(d)&nbsp;Exhibits </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD WIDTH="92%"></TD></TR>
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<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Exhibit<BR>No.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit Description</P></TD></TR>


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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Press Release of Pfizer Inc., dated December 7, 2017</TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">EXHIBIT INDEX </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">Exhibit<BR>No.</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center">Exhibit Description</P></TD></TR>


<TR STYLE="font-size:1pt">
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d481310dex991.htm">Press Release of Pfizer Inc., dated December 7, 2017 </A></TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">SIGNATURE </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3">PFIZER INC.</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" STYLE="border-bottom:1.00px solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">/s/ Margaret M. Madden</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Margaret M. Madden</P>
<P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Senior Vice President and Corporate Secretary</P> <P STYLE="font-size:2pt; margin-top:0pt; margin-bottom:1pt">&nbsp;</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Chief Governance Counsel</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dated: December 7, 2017 </P>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d481310dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-99.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt;margin-bottom:0pt">


<IMG SRC="g4813101a.jpg" ALT="LOGO">
 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="25%"></TD></TR>


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<TD VALIGN="top">For immediate release</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Media Contact</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">December 7, 2012</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Joan Campion</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">212-733-2798</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Investor Contact</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Ryan Crowe</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">212-733-8160</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Pfizer Inc. Announces (i)&nbsp;Private Exchange Offer for its 6.500&nbsp;per cent. Notes due 2038 Open to
Certain Investors and Related Tender Offer Open to All Investors and (ii)&nbsp;Tender Offer for its 5.750&nbsp;per cent. Notes due 2021 and Related Solicitation of Consents </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Exchange Offer for 6.500&nbsp;per cent. Notes due 2038 </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NEW YORK, NY, December&nbsp;7, 2017 &#151; Pfizer Inc. (NYSE: PFE) (&#147;Pfizer&#148;) today announced that it has commenced a private offer to exchange (the
&#147;Exchange Offer&#148;) any and all of its outstanding &pound;1,500,000,000 6.500&nbsp;per cent. Notes due 2038 (the &#147;Old Notes&#148;) in exchange for newly issued debt securities of Pfizer (the &#147;New Notes&#148;), on the terms and
subject to the conditions set forth in the Offering Memorandum dated December&nbsp;7, 2017 (the &#147;Offering Memorandum&#148; and, together with the accompanying exchange offer notice of guaranteed delivery, the &#147;Exchange Offer
Documents&#148;). All holders who certify that they are either (1) &#147;qualified institutional buyers&#148; (&#147;QIBs&#148;) as defined in Rule 144A under the Securities Act of 1933, as amended (the &#147;Securities Act&#148;) or <FONT
STYLE="white-space:nowrap">(2)&nbsp;non-&#147;U.S.</FONT> persons&#148; (as defined in Rule 902 under the Securities Act) located outside of the United States who are <FONT STYLE="white-space:nowrap">non-U.S.</FONT> qualified offerees (as defined in
the Offering Memorandum) are authorized to receive the Offering Memorandum and to participate in the Exchange Offer (each an &#147;Exchange Offer Eligible Holder&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Exchange Offer will expire at 5:00 p.m. (New York time) on December&nbsp;14, 2017 (such date and time, as the same may be extended, the &#147;Exchange
Offer Expiration Date&#148;). Old Notes tendered for exchange pursuant to the Exchange Offer may be withdrawn prior to the earlier of (i)&nbsp;the Exchange Offer Expiration Date, and (ii)&nbsp;if the Exchange Offer is extended, the 10th business day
after commencement of the Exchange Offer. Old Notes may also be validly withdrawn at any time after the 60th business day after commencement of the Exchange Offer if for any reason the Exchange Offer has not been consummated within 60 business days
after commencement of the Exchange Offer. Subject to the satisfaction or waiver of the conditions to the Exchange Offer, the &#147;Settlement Date&#148; with respect to the Exchange Offer will be promptly following the Exchange Offer Expiration Date
and is expected to be December&nbsp;19, 2017, which is the third business day after the Exchange Offer Expiration Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On the terms and subject to the
conditions set forth in the Offering Memorandum, Pfizer is offering to any and all Exchange Offer Eligible Holders of its outstanding Old Notes listed below to exchange the Old Notes for New Notes: </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="21%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="12%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="21%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="5%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>ISIN Number</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Common Code</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title of Security</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Principal Amount<BR>Outstanding</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Old&nbsp;Notes&nbsp;Reference<BR>Benchmark</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(ISIN Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Bloomberg</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Reference</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Page</B></P></TD>

<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Fixed</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Spread</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(basis</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>points)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Hypothetical<BR>Total&nbsp;Exchange<BR>Price<SUP
STYLE="font-size:85%; vertical-align:top">(1)</SUP></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Hypothetical</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>New Notes</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Amount<SUP
STYLE="font-size:85%; vertical-align:top">(2)</SUP></B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">XS0432072022</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">043207202</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">6.500&nbsp;per&nbsp;cent. Notes&nbsp;due&nbsp;2038</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:pmingliu">&pound;</FONT>1,500,000,000</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">UKT 4.75% due 7&nbsp;December 2038</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(GB00B00NY175)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">PXUK</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">+70&nbsp;bps</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:pmingliu">&pound;</FONT>1,641.32</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"><FONT STYLE="font-family:pmingliu">&pound;</FONT>1,641.32</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The hypothetical Total Exchange Price (as defined below) is based on the fixed spread for the Old Notes
<I>plus</I> the yield of the Old Notes Reference Benchmark as of 10:00 a.m. (London time) on December&nbsp;6, 2017. The information provided in the above table is for illustrative purposes only. Pfizer makes no representation with respect to the
actual consideration that may be paid, and such amounts may be greater or less than those shown in the above table depending on the yield of </P></TD></TR></TABLE>

<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">
the Old Notes Reference Benchmark as of the Exchange Offer Price Determination Date (as defined below). The actual Total Exchange Price will be based on the fixed spread <I>plus</I> the yield of
the Old Notes Reference Benchmark as of 1:00 p.m. (London time) on the Exchange Offer Price Determination Date. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">Payable in principal amount of the New Notes per each &pound;1,000 principal amount of the Old Notes validly tendered and not validly withdrawn at or prior to the Exchange Offer Expiration Date or Exchange Offer
Guaranteed Delivery Date (as such terms are defined below) and accepted for exchange. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon the terms and subject to the conditions set
forth in the Exchange Offer Documents, Exchange Offer Eligible Holders who (i)&nbsp;validly tender and who do not validly withdraw Old Notes at or prior to the Exchange Offer Expiration Date or (ii)&nbsp;deliver a properly completed and duly
executed notice of guaranteed delivery and all other required documents at or prior to the Exchange Offer Expiration Date and tender their Old Notes pursuant to the Exchange Offer at or prior to 5:00 p.m. (New York time) on the second business day
after the Exchange Offer Expiration Date (the &#147;Exchange Offer Guaranteed Delivery Date&#148;), and whose Old Notes are accepted for exchange by Pfizer, will receive the Total Exchange Price for each &pound;1,000 principal amount of Old Notes,
which will be payable in the form of the consideration described below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The price for each &pound;1,000 principal amount of Old Notes validly tendered at
or prior to the Exchange Offer Expiration Date or the Exchange Offer Guaranteed Delivery Date pursuant to the guaranteed delivery procedures, and not validly withdrawn (the &#147;Total Exchange Price&#148;), will be calculated at 1:00 p.m. (London
time) on December&nbsp;14, 2017 unless extended (such date and time, as it may be extended, the &#147;Exchange Offer Price Determination Date&#148;). The Total Exchange Price for the Old Notes will be determined in accordance with standard market
practice, as described in the Offering Memorandum using the applicable yield to maturity, which will be equal to the sum of the yield that equates to the <FONT STYLE="white-space:nowrap">mid-price</FONT> of the Old Notes Reference Benchmark in the
table above specified on the Exchange Offer Price Determination Date, plus the fixed spread specified in the table above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Total Exchange Price
payable by us for each &pound;1,000 principal amount of Old Notes, tendered for exchange, and accepted by us, will consist of the principal amount of New Notes equal to the Total Exchange Price. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer will announce the Total Exchange Price for the Old Notes as soon as practicable after it is determined on the Exchange Offer Price Determination Date.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition to the Total Exchange Price, Exchange Offer Eligible Holders whose Old Notes are accepted for exchange will be paid in cash accrued and
unpaid interest on such Old Notes to, but excluding, the Settlement Date. Interest will cease to accrue on the Settlement Date for all Old Notes accepted, including those tendered through the guaranteed delivery procedures. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The New Notes will mature on June&nbsp;15, 2043 and will bear interest at a rate per annum that will be equal to the sum of (a)&nbsp;the yield of the U.K.
Treasury 4.50% due 7&nbsp;December 2042, as calculated by the dealer manager in accordance with standard market practice and as described in the Offering Memorandum, plus (b) 95 basis points, such sum rounded to the third decimal place when
expressed as a percentage. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer will not issue New Notes in the Exchange Offer if the aggregate principal amount of New Notes to be issued in the
Exchange Offer would be less than &pound;300&nbsp;million (the &#147;Minimum Issue Requirement&#148;), but instead will deliver cash to holders that elect to receive cash in such circumstances (the &#147;Cash Reversion Option&#148;). When submitting
a tender of Old Notes, an Exchange Offer Eligible Holder must </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
elect, in the event the Minimum Issue Requirement with respect to the New Notes is not satisfied (and the Total Exchange Price is not payable to such Exchange Offer Eligible Holder), to: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">receive the cash consideration equal to the Total Consideration (as defined below) for the Cash Offer (as defined below) with respect to such Old Notes pursuant to the Cash Reversion Option described in the Offering
Memorandum, or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="2%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">have its Old Notes returned. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Holders that do not make an election will be deemed to have elected to receive
cash in the event the Minimum Issue Requirement is not met. Pfizer is not permitted to waive the Minimum Issue Requirement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer&#146;s obligation to
accept any Old Notes tendered in the Exchange Offer is subject to the satisfaction of certain conditions to the Exchange Offer as described in the Offering Memorandum, including (x)&nbsp;the timely satisfaction or waiver of all of the conditions to
the Cash Offer (the &#147;Cash Offer Condition&#148;) and (y)&nbsp;the determination that the exchange of the New Notes for the Old Notes pursuant to the Exchange Offer will be treated as a &#147;significant modification&#148; of the Old Notes
within the meaning of section <FONT STYLE="white-space:nowrap">1.1001-3</FONT> of the U.S. Treasury Regulation (the &#147;Tax Condition&#148;). Pfizer reserves the right, subject to applicable law, to waive any and all conditions to the Exchange
Offer, except for the Cash Offer Condition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer will terminate the Exchange Offer if it terminates the Cash Offer. Pfizer may terminate the Cash Offer
if it terminates the Exchange Offer, but it may also elect to waive the condition to the Cash Offer that the Exchange Offer be completed. If Pfizer does waive the condition to the Cash Offer that the Exchange Offer be completed and terminates the
Exchange Offer without terminating the Cash Offer, it will offer holders that tendered Old Notes into the terminated Exchange Offer the opportunity to tender into the Cash Offer instead, including by extending the Cash Offer if required by law. If
Pfizer extends the Cash Offer for any reason, it will extend the Exchange Offer, unless the Exchange Offer has been terminated in accordance with the preceding sentence. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If and when issued, the New Notes will not be registered under the Securities Act or any state securities laws. Therefore, the New Notes may not be offered or
sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lucid Issuer Services Limited will act as the Information Agent and the Exchange Agent for the Exchange Offer. Questions or requests for assistance related to
the Exchange Offer may be directed to Lucid Issuer Services Limited at +44 207 704 0880 or <FONT STYLE="white-space:nowrap">pfizer@lucid-is.com.</FONT> Holders can access the Exchange Offer Documents through the following link <FONT
STYLE="white-space:nowrap">www.lucid-is.com/pfizer</FONT> after making the required certifications. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Cash Offer for 6.500&nbsp;per
cent. Notes due 2038 </I></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer also announced that it has commenced an offer to all holders to purchase for cash (the &#147;Cash Offer&#148;) any
and all Old Notes, on the terms and subject to the conditions set forth in the Offer to Purchase dated December&nbsp;7, 2017 (the &#147;Offer to Purchase&#148; and, together with the accompanying cash offer notice of guaranteed delivery, the
&#147;Cash Offer Documents,&#148; collectively with the Exchange Offer </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Documents, the &#147;Offer Documents&#148;). Exchange Offer Eligible Holders are permitted to participate in either the Exchange Offer or the Cash Offer with respect to any particular Old Note
(subject to authorized denominations requirements ), provided that any particular Old Note may be tendered either in the Exchange Offer or the Cash Offer, but not both. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On the terms and subject to the conditions set forth in the Offer to Purchase, Pfizer is offering to any and all holders of its outstanding Old Notes listed
below to purchase such Old Notes for cash: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="15%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="7%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="9%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>ISIN Number</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Common Code</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Title of Security</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Principal&nbsp;Amount<BR>Outstanding</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Old&nbsp;Notes&nbsp;Reference<BR>Benchmark</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>(ISIN Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Bloomberg<BR>Reference</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Page</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Fixed&nbsp;Spread<BR>(basis&nbsp;points)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000">
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Hypothetical&nbsp;Total<BR>Consideration(1)(2)</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">XS0432072022</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">043207202</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">6.500&nbsp;per cent. Notes due 2038</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">&pound;1,500,000,000</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">UKT 4.75% due 7&nbsp;December&nbsp;2038 (GB00B00NY175)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">PXUK</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">+70 bps</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">&pound;1,641.32</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Payable in cash per each &pound;1,000 principal amount of the Old Notes validly tendered and not validly withdrawn at or prior to the Cash Offer Expiration Date or the Guaranteed Delivery Date (as such terms are defined
below) pursuant to the guaranteed delivery procedures and accepted for purchase. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">Hypothetical Total Consideration is based on the fixed spread for the Old Notes plus the yield of the Old Notes Reference Benchmark as of 10:00 a.m. (London time) on December&nbsp;6, 2017. The information provided in
the above table is for illustrative purposes only. Pfizer makes no representation with respect to the actual consideration that may be paid, and such amounts may be greater or less than those shown in the above table depending on the yield of the
Old Notes Reference Benchmark as of the Cash Offer Price Determination Date (as defined below). The actual Total Consideration will be based on the fixed spread for the Old Notes to the yield of the Old Notes Reference Benchmark as of 1:00 p.m.
(London time) on the Cash Offer Price Determination Date. The hypothetical Total Consideration excludes accrued and unpaid interest on the Old Notes accepted for purchase. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Cash Offer will expire at 5:00 p.m. (New York time) on December&nbsp;14, 2017 (such date and time, as the same may be extended, the &#147;Cash Offer
Expiration Date&#148;). Old Notes tendered may be validly withdrawn at any time prior to the earlier of (i)&nbsp;the Cash Offer Expiration Date, and (ii)&nbsp;if the Cash Offer is extended, the 10th business day after commencement of the Cash Offer.
Old Notes may also be validly withdrawn at any time after the 60th business day after commencement of the Cash Offer if for any reason the Cash Offer has not been consummated within 60 business days after commencement of the Cash Offer. Subject to
the satisfaction or waiver of the conditions to the Cash Offer, the &#147;Settlement Date&#148; with respect to the Cash Offer is expected to be the third business day after the Cash Offer Expiration Date, which is expected to be December&nbsp;19,
2017, unless extended. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Upon the terms and subject to the conditions set forth in the Tender Offer Documents, holders who (i)&nbsp;validly tender and who
do not validly withdraw Old Notes pursuant to the Cash Offer at or prior to the Cash Offer Expiration Date or (ii)&nbsp;deliver a properly completed and duly executed Notice of Guaranteed Delivery and all other required documents at or prior to the
Cash Offer Expiration Date and tender their Old Notes pursuant to the Cash Offer at or prior to prior to 5:00 p.m. (New York time) on the second business day after the Expiration Date (the &#147;Cash Offer Guaranteed Delivery Date&#148;), and whose
Old Notes are accepted for purchase by us, will receive the Total Consideration (as defined below) for each &pound;1,000 principal amount of Old Notes, which will be payable in cash. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The consideration for each &pound;1,000 principal amount of Old Notes validly tendered pursuant to the Cash Offer at or prior to the Cash Offer Expiration
Date or the Cash Offer Guaranteed Delivery Date pursuant to the guaranteed delivery procedures, and not validly withdrawn (the &#147;Total Consideration&#148;), will be calculated at 1:00 p.m. (London time) on the Cash Offer Price Determination
Date. The Total </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Consideration for the Old Notes will be determined in accordance with standard market practice, as described in the Offer the Purchase using the yield to maturity equal to the fixed spread
specified in the table above, plus the yield that equates to the price of the Old Notes Reference Benchmark specified in the table above on the Cash Offer Price Determination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer will announce the Total Consideration for the Old Notes as soon as practicable after it is determined on the Cash Offer Price Determination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition to the Total Consideration, holders whose Old Notes are accepted for tender will be paid accrued and unpaid interest on such Old Notes to, but not
including, the Settlement Date. Interest will cease to accrue on the Settlement Date for all Old Notes accepted, including those tendered through the guaranteed delivery procedures. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer&#146;s obligation to accept Old Notes tendered in the Cash Offer is subject to the satisfaction of certain conditions described in the Offer to
Purchase, including the timely satisfaction or waiver of all of the conditions precedent to the completion of the Exchange Offer (the &#147;Exchange Offer Condition&#148;). Pfizer reserves the right, subject to applicable law, to waive any and all
conditions to the Cash Offer. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer may terminate the Cash Offer if Pfizer terminates the Exchange Offer, but Pfizer may also elect to waive the
Exchange Offer Condition. If Pfizer waives the Exchange Offer Condition and terminates the Exchange Offer without terminating the Cash Offer, Pfizer will offer holders that tendered Old Notes into the terminated Exchange Offer the opportunity to
tender into the Cash Offer instead, including by extending the Cash Offer if required by law. Pfizer will terminate the Exchange Offer if it terminates the Cash Offer. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lucid Issuer Services Limited will also act as the Information Agent and the Tender Agent for the Cash Offer. Questions or requests for assistance related to
the Cash Offer may be directed to Lucid Issuer Services Limited at +44 207 704 0880 or <FONT STYLE="white-space:nowrap">pfizer@lucid-is.com.</FONT> You may also contact your broker, dealer, commercial bank, trust company or other nominee for
assistance concerning the Cash Offer. The Cash Offer Documents can be accessed at the following link <FONT STYLE="white-space:nowrap">www.lucid-is.com/pfizer.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer refers to the Exchange Offer and the Cash Offer collectively, as the &#147;Offer.&#148; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If Pfizer terminates the Offer, it will give prompt notice to the Tender Agent or Exchange Agent, as applicable, and all Old Notes tendered pursuant to such
terminated Offer will be returned promptly to the tendering holders thereof. With effect from such termination, any Old Notes blocked in Euroclear Bank SA/NV and Clearstream Banking, soci&eacute;t&eacute; anonyme will be released. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Holders are advised to check with any bank, securities broker or other intermediary through which they hold Old Notes as to when such intermediary needs to
receive instructions from a holder in order for that holder to be able to participate in, or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the Exchange Offer or Cash Offer, as applicable, before
the deadlines specified herein and in the Exchange Offer Documents or the Cash Offer Documents, as applicable. The deadlines set by each clearing system for the submission and withdrawal of exchange instructions will also be earlier than the
relevant deadlines specified herein and in the Exchange Offer Documents or the Cash Offer Documents, as applicable. </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This announcement is for informational purposes only. This announcement is not an offer to purchase or a
solicitation of an offer to purchase any Old Notes. The Exchange Offer is being made solely pursuant to the Offering Memorandum and related documents and the Cash Offer is being made solely pursuant to the Offer to Purchase and related documents.
The Offer is not being made to holders of Old Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the
securities laws or blue sky laws require the Offer to be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of Pfizer by the dealer manager or one or more registered brokers or dealers that are licensed under the laws
of such jurisdiction. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Offer to Purchase 5.750&nbsp;per cent. Notes due 2021 and Related Solicitation of Consents </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pfizer today also announced that it has commenced (i)&nbsp;an offer to purchase for cash (the &#147;2021 Notes Tender Offer&#148;) any and all of its
outstanding &#128;2,000,000,000 5.750&nbsp;per cent. Notes due 2021 (the &#147;2021 Notes&#148;) from holders thereof and, in conjunction with the 2021 Notes Tender Offer, (ii)&nbsp;a solicitation of consents (&#147;Consents&#148;) to amend the 2021
Notes and the indenture pursuant to which the 2021 Notes were issued to shorten the required notice in the case of an optional redemption by Pfizer to not less than seven days nor more than 60 days (the &#147;Proposed Amendments&#148;) (the
&#147;Consent Solicitation&#148; and together with the 2021 Notes Tender Offer, the &#147;2021 Notes Offer&#148;), in each case on the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement dated
December&nbsp;7, 2017 (the &#147;2021 Notes Offer to Purchase&#148;). In order to adopt the Proposed Amendments, Pfizer must receive valid tenders of 2021 Notes and delivery of corresponding Consents of at least a majority of the aggregate principal
amount of the outstanding 2021 Notes (the &#147;Required Consents&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If Pfizer receives the Required Consents, promptly after the Early Tender and
Consent Date (as defined below), Pfizer intends to issue a redemption notice calling for the redemption of any and all 2021 Notes not tendered by the Early Tender and Consent Date in the 2021 Notes Offer for redemption on or about December&nbsp;28,
2017. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Holders must validly tender their 2021 Notes, and not validly withdraw their 2021 Notes, at or prior to 5:00 p.m., New York time, on
December&nbsp;20, 2017 (such time and date, as the same may be extended, the &#147;Early Tender and Consent Date&#148;) in order to be eligible to receive the Tender Total Consideration (as set forth below) on the Early Settlement Date (as defined
below). The 2021 Notes Tender Offer will expire at 11:59 p.m., New York time, on January&nbsp;5, 2018, unless extended or earlier terminated (such time and date, as the same may be extended or earlier terminated, the &#147;2021 Notes Tender
Expiration Date&#148;). Holders that validly tender their 2021 Notes, and do not validly withdraw their 2021 Notes, after the Early Tender and Consent Date and at or prior to the 2021 Notes Tender Expiration Date will only be eligible to receive the
Tender Total Consideration less the Early Tender and Consent Payment (as set forth below). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">2021 Notes tendered may only be withdrawn prior to the
effective date of the supplemental indenture (the &#147;Consent Effective Date&#148;). Holders will be deemed to have delivered their Consents by tendering their 2021 Notes on or prior to the 2021 Notes Tender Expiration Date. Holders may not tender
their 2021 Notes (including following the Early Tender and Consent Date) without delivering their Consents in respect of the tendered 2021 Notes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The total consideration (the &#147;Tender Total Consideration&#148;) payable for the 2021 Notes tendered on or
prior to the Early Tender and Consent Date shall be determined in the manner described in the 2021 Notes Offer to Purchase by reference to a fixed spread of 20 basis points (the &#147;2021 Notes Fixed Spread&#148;) over the yield to maturity of the
2021 Notes Reference Benchmark described below as of 10:00 a.m., London time, on December&nbsp;21, 2017 (the &#147;2021 Notes Price Determination Date&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The consideration payable per &#128;1,000 principal amount of 2021 Notes in respect of 2021 Notes tendered on or prior to the Early Tender and Consent Date
will equal the greater of: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(a) the Tender Total Consideration calculated with reference to the 2021 Notes Fixed Spread over the yield to maturity of the
2021 Notes Reference Benchmark as of 10:00 a.m., London time, on the 2021 Notes Price Determination Date using the Early Settlement Date, plus accrued but unpaid interest up to the Early Settlement Date, or </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(b) the Tender Total Consideration calculated with reference to the 2021 Notes Fixed Spread over the yield to maturity of the 2021 Notes Reference Benchmark
as of 10:00 a.m., London time, on the 2021 Notes Price Determination Date using the date that is 32 days after the 2021 Notes Price Determination Date (the &#147;Alternative Settlement Date&#148;), plus accrued but unpaid interest up to the
Alternative Settlement Date, being the redemption price that an investor would have received had the 2021 Notes been redeemed on January&nbsp;22, 2018, i.e., called for redemption on December&nbsp;21, 2017 without giving effect to the Proposed
Amendments. For the avoidance of doubt, the yield to maturity on the 2021 Notes Reference Benchmark is assumed as of the 2021 Notes Price Determination Date. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In addition, holders whose 2021 Notes are validly tendered and not validly withdrawn and that are purchased pursuant to the 2021 Notes Tender Offer will
receive on the Early Settlement Date or the Final Settlement Date, as applicable, accrued and unpaid interest up to, but excluding, the applicable Settlement Date or, if the consideration payable is based on clause (b) above, the Alternative
Settlement Date (&#147;Accrued Interest&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Included in the Tender Total Consideration calculation is an amount equal to &#128;30.00 per &#128;1,000
principal amount of 2021 Notes purchased, which shall constitute an early tender and consent payment (the &#147;Early Tender and Consent Payment&#148;) and which shall only be paid for 2021 Notes tendered and Consents delivered on or prior to the
Early Tender and Consent Date that are accepted for purchase. With respect to 2021 Notes tendered after the Early Tender and Consent Date and on or prior to the 2021 Notes Tender Expiration Date, Pfizer shall pay the Tender Total Consideration
<I>minus</I> the Early Tender and Consent Payment for such 2021 Notes accepted for purchase. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The following table summarizes terms material to the
determination of the Tender Total Consideration: </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="11%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="6%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="8%"></TD>
<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="16%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>ISIN Number</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Common Code</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Title of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Security</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Principal Amount<BR>Outstanding</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>2021&nbsp;Notes&nbsp;Reference<BR>Benchmark</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(ISIN Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Bloomberg<BR>Reference</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Page</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Fixed&nbsp;Spread<BR>(basis points)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Early&nbsp;Tender</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>and Consent</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Payment
(1)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Hypothetical
Tender<BR>Total&nbsp;Consideration(1)(2)</B></P></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="middle" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">XS0432071131</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman" ALIGN="center">043207113</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">5.750&nbsp;per cent.&nbsp;Notes due 2021</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">&#128;2,000,000,000</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">OBL 0% due 9&nbsp;April 2021</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">(DE0001141737)</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">PXGE</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">+20 bps</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">&#128;30.00</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="middle" ALIGN="center">&#128;1,212.75</TD></TR>
</TABLE> <P STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:10%">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(1)</TD>
<TD ALIGN="left" VALIGN="top">Payable in cash per each &#128;1,000 principal amount of the 2021 Notes validly tendered at or prior to the Early Tender and Consent Date and not validly withdrawn at or prior to the 2021 Notes Tender Expiration Date
and accepted for purchase. The Early Tender and Consent Payment is included in the Total Consideration. Holders tendering after the Early Tender and Consent Date will not receive the Early Tender and Consent Payment. </TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">(2)</TD>
<TD ALIGN="left" VALIGN="top">Hypothetical Tender Total Consideration is based on the fixed spread for the 2021 Notes, <I>plus</I> the yield of the 2021 Notes Reference Benchmark as of 10:00 a.m., London time, on December&nbsp;6, 2017. The
information provided in the above table is for illustrative purposes only. Pfizer makes no representation with respect to the actual consideration that may be paid, and such amounts may be greater or less than those shown in the above table
depending on the yield of the 2021 Notes Reference Benchmark as of the 2021 Notes Price Determination Date. The actual Tender Total Consideration will be based on the fixed spread for the 2021 Notes to the yield of the 2021 Notes Reference Benchmark
as of 10:00 a.m., London time, on the 2021 Notes Price Determination Date. The hypothetical Tender Total Consideration excludes accrued and unpaid interest on the Old Notes accepted for purchase. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The &#147;Early Settlement Date&#148; in respect of 2021 Notes validly tendered (and not validly withdrawn) prior to the Early Tender and Consent Date and
accepted by us, is expected to be on the third business day after the Early Tender and Consent Date, which is expected to be on or about December&nbsp;28, 2017. The &#147;Final Settlement Date&#148;, in respect of 2021 Notes validly tendered (and
not validly withdrawn) after the Early Tender and Consent Date but prior to the 2021 Notes Tender Expiration Date and accepted by us, is expected to be the third business day after the 2021 Notes Tender Expiration Date, which is expected to be on or
about January&nbsp;10, 2018. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Only holders that validly tender their 2021 Notes and deliver their corresponding Consents at or prior to the Early Tender
and Consent Date and do not validly withdraw their 2021 Notes will be eligible to receive the Tender Total Consideration (which includes the Early Tender and Consent Payment). Holders validly tendering their 2021 Notes after the Early Tender and
Consent Date and on or prior to the 2021 Notes Tender Expiration Date will only be eligible to receive the Tender Total Consideration less the Early Tender and Consent Payment. In addition, all holders that validly tender their 2021 Notes that are
accepted for purchase in the 2021 Notes Tender Offer will receive a cash payment representing Accrued Interest. Holders may not tender their 2021 Notes (including following the Early Tender and Consent Date) without delivering their Consents in
respect of the tendered 2021 Notes. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Subject to applicable law, Pfizer may, in its sole discretion, extend, amend or terminate the 2021 Notes Offer and
Pfizer reserves the right, in its sole discretion, not to accept any 2021 Notes prior to the Consent Effective Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lucid Issuer Services Limited will
also act as the tender and tabulation agent and as information agent for the 2021 Notes Offer. Questions or requests for assistance related to the 2021 Notes Offer or for additional copies of the 2021 Notes Offer to Purchase may be directed to Lucid
Issuer Services Limited at +44 207 704 0880 or <FONT STYLE="white-space:nowrap">pfizer@lucid-is.com.</FONT> You may also contact your broker, dealer, commercial bank, trust company or other nominee for assistance concerning the 2021 Notes Offer. The
2021 Notes Offer to Purchase can be accessed at the following link <FONT STYLE="white-space:nowrap">www.lucid-is.com/pfizer.</FONT> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Holders of the
2021 Notes are advised to check with any bank, securities broker or other intermediary through which they hold 2021 Notes as to when such intermediary needs to receive instructions from a holder in order for that holder to be able to participate in,
or (in the circumstances in which revocation is permitted) revoke their instruction to participate in, the 2021 Notes Offer before the deadlines specified herein and in the 2021 Notes Offer to Purchase. The deadlines set by each clearing system for
the submission and withdrawal of tender instructions will also be earlier than the relevant deadlines specified herein and in the 2021 Notes Offer to Purchase. </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>


<p Style='page-break-before:always'>
<HR  SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This announcement is for informational purposes only. This announcement is not an offer to purchase or a
solicitation of an offer to purchase any 2021 Notes. The 2021 Notes Tender Offer is being made solely pursuant to the 2021 Notes Offer to Purchase and related documents. The 2021 Notes Tender Offer is not being made to holders of 2021 Notes in any
jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the 2021 Notes Tender Offer
to be made by a licensed broker or dealer, the 2021 Notes Tender Offer will be deemed to be made on behalf of Pfizer by the dealer manager or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Forward-Looking Statements </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>This press release
contains forward-looking statements. Such forward-looking statements involve substantial risks and uncertainties. We have tried, wherever possible, to identify such statements by using words such as &#147;will,&#148; &#147;may,&#148;
&#147;could,&#148; &#147;likely,&#148; &#147;ongoing,&#148; &#147;anticipate,&#148; &#147;estimate,&#148; &#147;expect,&#148; &#147;project,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;believe,&#148; &#147;target,&#148; &#147;forecast,&#148;
&#147;goal,&#148; &#147;objective,&#148; &#147;aim&#148; and other words and terms of similar meaning or by using future dates in connection with any discussion of, among other things, expectations regarding the completion of the Exchange Offer, the
Cash Offer or the 2021 Notes Offer. A list and description of risks, uncertainties and other matters can be found in our Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2016, including in the
sections thereof captioned &#147;Forward-Looking Information and Factors That May Affect Future Results&#148; and &#147;Risk Factors,&#148; in our Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q,</FONT> in our Current Reports on Form
<FONT STYLE="white-space:nowrap">8-K,</FONT> and in the Offer Documents and the 2021 Notes Offer to Purchase, in each case including in the section thereof captioned &#147;Risk Factors.&#148; You should understand that it is not possible to predict
or identify all such factors. Consequently, you should not consider any such list to be a complete set of all potential risks or uncertainties. </I></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>We
cannot guarantee that any forward-looking statement will be realized, although we believe we have been prudent in our plans and assumptions. Achievement of anticipated results is subject to substantial risks, uncertainties and inaccurate
assumptions. Should known or unknown risks or uncertainties materialize, or should underlying assumptions prove inaccurate, actual results could vary materially from past results and those anticipated, estimated or projected. You should bear this in
mind as you consider forward-looking statements, and you are cautioned not to put undue reliance on forward-looking statements. We undertake no obligation to publicly update forward-looking statements, whether as a result of new information, future
events or otherwise, except as required by law or by the rules and regulations of the Securities and Exchange Commission (the &#147;SEC&#148;). You are advised, however, to consult any further disclosures we make on related subjects in our reports
on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> <FONT STYLE="white-space:nowrap">10-Q</FONT> and <FONT STYLE="white-space:nowrap">8-K</FONT> and our other filings with the SEC. </I></P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
