<SEC-DOCUMENT>0001214659-23-005238.txt : 20230412
<SEC-HEADER>0001214659-23-005238.hdr.sgml : 20230412
<ACCEPTANCE-DATETIME>20230412090411
ACCESSION NUMBER:		0001214659-23-005238
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20230412
DATE AS OF CHANGE:		20230412
EFFECTIVENESS DATE:		20230412

SUBJECT COMPANY:	

	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:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-03619
		FILM NUMBER:		23814753

	BUSINESS ADDRESS:	
		STREET 1:		66 HUDSON BOULEVARD EAST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001-2192
		BUSINESS PHONE:		2127332323

	MAIL ADDRESS:	
		STREET 1:		66 HUDSON BOULEVARD EAST
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10001-2192

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PFIZER CHARLES & CO INC
		DATE OF NAME CHANGE:	19710908

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Oxfam America, Inc.
		CENTRAL INDEX KEY:			0001764188
		IRS NUMBER:				237069110
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0319

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		226 CAUSEWAY ST
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02114
		BUSINESS PHONE:		8007769326

	MAIL ADDRESS:	
		STREET 1:		226 CAUSEWAY ST
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02114
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0">&nbsp;<IMG SRC="oxfamlogo.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>Notice of Exempt Solicitation</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NAME OF REGISTRANT:&nbsp;</B>Pfizer Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NAME OF PERSON RELYING ON EXEMPTION: </B>Oxfam America<B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ADDRESS OF PERSON RELYING ON EXEMPTION:&nbsp;</B><FONT STYLE="font-size: 10pt">77
North Washington Street, Suite 5-1, Boston, MA 02114&nbsp;</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Written materials are submitted pursuant to
Rule 14a-6(g)(1) promulgated under the Securities Exchange Act of 1934. Submission is not required of this filer under the terms of the
Rule, but is made voluntarily in the interest of public disclosure and consideration of these important issues.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We urge shareholders to vote <B>&ldquo;For&rdquo;</B>
Item 7 at Pfizer&rsquo;s annual general meeting (AGM) on April 27, 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>I.</B></TD><TD STYLE="text-align: justify"><B><U>SUMMARY OF RESOLUTION</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>
<DIV STYLE="padding: 1%; border: Black 1pt solid">
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">RESOLVED, that shareholders
of Pfizer ask the Board of Directors to commission a third-party report to shareholders, at reasonable expense and omitting confidential
and proprietary information, analyzing the feasibility of promptly transferring intellectual property (IP) and technical knowledge (&ldquo;know-how&rdquo;)
to facilitate the production of COVID-19 vaccine doses by additional qualified manufacturers located in low- and middle-income countries
(LMICs), as defined by the World Bank.</P>
</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Supporting Statement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">COVID-19 vaccines are lifesaving, but inequitable
access has needlessly cost lives and livelihoods throughout the world.<SUP>1</SUP>
Vaccine access inequities persist despite increased supply,<SUP>2</SUP>
in part due to grossly inequitable distribution by pharmaceutical companies. LMICs continue to call for sustainable local manufacturing
as the solution to ensure timely, equitable, and reliable access to lifesaving vaccines. Sustainable access to COVID-19 vaccines is vital
for controlling the COVID-19 pandemic, reducing hospitalizations and deaths, protecting against long-term health consequences, restoring
economic health, and stemming the emergence of new variants. Failure to ensure equitable, sustainable access to vaccines has public health
and financial consequences, including for Pfizer and its stockholders. A report analyzing the feasibility of sharing IP and know-how could
help investors evaluate whether Pfizer&rsquo;s actions pose a material risk to shareholders&rsquo; interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>1</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://pubmed.ncbi.nlm.nih.gov/35753318/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>2</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://ourworldindata.org/covid-vaccinations</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pfizer should commission a third-party report
on the feasibility of sharing IP and know-how with qualified manufacturers for the following reasons:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD STYLE="text-align: justify">Pfizer faces significant reputational and business risks for failing to ensure equitable access to its
COVID-19 vaccine.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Refusal to disseminate IP and technology risks increased regulation and government oversight.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">3.</TD><TD STYLE="text-align: justify">Pfizer is missing potential revenue opportunities and creating a potential market for competitors.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">4.</TD><TD STYLE="text-align: justify">Pfizer&rsquo;s failure to transfer intellectual property and know-how contributes to financial harm and
undermining of the global economy.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>II.</B></TD><TD STYLE="text-align: justify"><B><U>ARGUMENTS IN FAVOR OF A &ldquo;FOR&rdquo; VOTE</U></B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>1.</B></TD><TD STYLE="text-align: justify"><B>Pfizer&rsquo;s faces significant reputational and business risks for failing to ensure equitable access
to its COVID-19 vaccine.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pfizer&rsquo;s COVID-19 vaccine accounts for more
than a third of Pfizer&rsquo;s $100.3 billion revenues for 2022.<SUP>3</SUP>
As Pfizer has already made over $74.7 billion in revenue from the vaccine over the course of the pandemic,<SUP>4</SUP>
the company faces even greater reputational scrutiny for perceived &ldquo;profiteering&rdquo; on technology that could be shared with
many countries where people are still vulnerable.<SUP>5</SUP>
Pfizer&rsquo;s refusal to transfer mRNA technology has already and could continue to damage the company&rsquo;s reputation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">High-profile media outlets have published disparaging
coverage throughout the pandemic suggesting Pfizer&rsquo;s held countries to &ldquo;ransom,&rdquo; prioritized profits and contributed
to the vaccine inequities that persist today.<SUP>6</SUP>
Researchers have raised alarm at Pfizer&rsquo;s refusal to share its products with academics who seek to improve upon existing vaccines,
suggesting Pfizer is<FONT STYLE="background-color: white">&nbsp;&ldquo;slow[ing] global progress toward more effective vaccines in the
future.&rdquo;</FONT><SUP>7</SUP> Such refusal is particularly
troubling because the company is failing to appreciate the role academic research and public funding played in the development of mRNA
vaccines.<SUP>8</SUP> A recent study of US public funding
into mRNA vaccines over 35 years notes, &ldquo;<FONT STYLE="background-color: white">Pfizer-BioNTech would not have been able to develop
an mRNA covid-19 vaccine without the licensed technologies emerging from research funded by US taxpayers,&rdquo; in addition to Pfizer
partner BioNTech&rsquo;s receipt of hundreds of millions of Euros from the German government.<SUP>9</SUP></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>3</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://s28.q4cdn.com/781576035/files/doc_financials/2022/q4/Q4-2022-PFE-Earnings-Release.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>4</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://s28.q4cdn.com/781576035/files/doc_financials/2021/ar/PFE-2021-Form-10K-FINAL.pdf</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://s28.q4cdn.com/781576035/files/doc_financials/2022/q4/Q4-2022-PFE-Earnings-Release.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>5</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.thenation.com/article/economy/pfizer-pandemic-profiteering/</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.theguardian.com/business/2022/feb/08/pfizer-covid-vaccine-pill-profits-sales</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>6</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.theguardian.com/global-development/2021/sep/10/pfizer-accused-of-holding-brazil-to-ransom-over-vaccine-contract-demands</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.nytimes.com/2021/05/04/business/pfizer-covid-vaccine-profits.html</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.marketwatch.com/story/will-corporate-greed-prolong-the-covid-19-pandemic-11620327014</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">.
</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>7</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.statnews.com/2022/09/06/pfizer-covid-vaccines-researchers-next-gen-studies/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>8</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.scientificamerican.com/article/for-billion-dollar-covid-vaccines-basic-government-funded-science-laid-the-groundwork/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>9</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.bmj.com/content/380/bmj-2022-073747</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #201F1E"><FONT STYLE="background-color: white"><I>This communication
should not be construed as soliciting authority to vote any shareholder&rsquo;s proxy, and no proxy cards will be accepted. Please vote
your proxy in accordance with the instructions set forth in Amazon&rsquo;s proxy statement.</I></FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Recent
reports of planned US vaccine price hikes have added to this negative attention, with policymakers calling out Pfizer&rsquo;s &ldquo;pure
and deadly greed.&rdquo;</FONT> <SUP>10</SUP> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Media
pieces in Fox News and the LA Times accuse the industry, including Pfizer, of &ldquo;getting away with murder&rdquo; and &ldquo;moral
depravity.&rdquo;</FONT><SUP>11</SUP> <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Coverage
notes how Pfizer&rsquo;s pricing strategies are under greater scrutiny due to the company&rsquo;s failures to distribute its products
more equitably.</FONT><SUP>12</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pfizer&rsquo;s handling of its IP and technology
may add to reputational risk as the company and its partners are embroiled in numerous lawsuits, including those with competitor Moderna.<SUP>13</SUP>
In its lawsuit countersuing Moderna, Pfizer highlights that knowledge sharing was required to develop COVID-19 vaccines and combat the
pandemic, arguing Moderna is ignoring the contributions of others, including NIH researchers.<SUP>14</SUP>
Pfizer&rsquo;s arguments demonstrate the company&rsquo;s own hypocrisy&mdash;while refusing to share its technological know-how with manufacturers
in LMICs to improve public access, Pfizer points out how much mRNA vaccines rely on the knowledge and expertise shared by others, including
public researchers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pfizer&rsquo;s voluntary efforts to remedy enormous
disparities in vaccine equity and access are too little, too late. The company&rsquo;s strategy of belatedly providing lower-priced doses
to some LMICs failed to deliver equity, is not a sustainable solution for controlling the COVID-19 pandemic, and will not resolve the
reputational risks. Nor are Pfizer&rsquo;s other voluntary measures sufficient. The company&rsquo;s two fill-and-finish deals with manufacturers
based in middle-income countries and commitment to eventually make its COVID-19 vaccine and other products available at reduced prices
in 45 of more than 130 LMICs are not responsive to countries&rsquo; calls for full technology transfer. These belated half-measures do
not enable LMICs to control production and distribution of doses according to country needs, nor do they assure countries that they will
not again be at the back of the line should there be future supply crunches. As such, they fail to address the continued reputational
risk that Pfizer faces by virtue of its refusal to study the impacts of transferring technology.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD STYLE="text-align: justify"><B>Pfizer could face increased regulatory risks during and after the COVID-19 pandemic due to its failure
to sustain adequate supply.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pfizer&rsquo;s failure to deliver sustainable
equitable access to its vaccine invites potential increased regulation and oversight from governments. If governments cannot trust that
companies will make their lifesaving products accessible in an equitable, timely and sustainable way, they may impose new rules impacting
the control of pandemic technologies that leave the company with less control, as some experts propose.<SUP>15</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>10</SUP><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.warren.senate.gov/imo/media/doc/2022.12.12%20Letter%20to%20Pfizer%20on%20Vaccine%20Price%20Hikes.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>11</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.foxnews.com/opinion/greedy-pharma-firms-rip-off-americans-while-pfizer-moderna-swim-profits</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">;
https://www.latimes.com/business/story/2023-01-24/column-moderna-and-pfizer-are-jacking-up-the-price-of-covid-vaccines-the-government-should-stop-them</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>12</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.statnews.com/pharmalot/2022/12/13/pfizer-covid19-vaccines-warren-bourla/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>13</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://investors.modernatx.com/news/news-details/2022/Moderna-Sues-Pfizer-and-BioNTech-for-Infringing-Patents-Central-to-Modernas-Innovative-mRNA-Technology-Platform/default.aspx</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>14</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.reuters.com/legal/pfizer-biontech-countersue-moderna-over-covid-19-vaccine-patents-2022-12-05/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>15</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://gh.bmj.com/content/7/7/e009709</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #201F1E"><FONT STYLE="background-color: white"><I>This communication
should not be construed as soliciting authority to vote any shareholder&rsquo;s proxy, and no proxy cards will be accepted. Please vote
your proxy in accordance with the instructions set forth in Amazon&rsquo;s proxy statement.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #201F1E">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The lessons learned from this pandemic on whether
and how companies made their products and technological know-how available also have implications for future global public health needs
and how future Pfizer products may be governed. Governments already agreed to relax certain patent rules for COVID-19 vaccines at the
World Trade Organization,<SUP>16</SUP> despite strong
opposition from the pharmaceutical industry.<SUP>17</SUP>
Governments are also considering what rules may be applied for future pandemic health needs through the World Health Organization&rsquo;s
(WHO) discussions on pandemic prevention, preparedness and response. The discussion draft for a potential agreement proposes greater transparency
of public funding of pandemic response products, measures to promote access to the results of publicly funded research, and other measures
to improve access to pandemic products, including references to IP waivers.<SUP>18</SUP>
Thus governments may have the option to compel sharing of IP in pandemic contexts in response to access challenges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
recent passage of the US Inflation Reduction Act also points to the potential costs to industry when governments are forced to intervene
to improve affordable access to medical tools. In response to public outcry over the high prices of medicines, the US passed the Inflation
Reduction Act enabling price negotiations for certain medicines under Medicare. Moody&rsquo;s warns that the $100 billion in savings the
US government will generate over 10 years by negotiating prices will be &ldquo;generally borne by the industry.&rdquo;</FONT><SUP>19</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>3.</B></TD><TD STYLE="text-align: justify"><B>Pfizer missing key revenue opportunities by prioritizing short-term profits.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pfizer&rsquo;s refusal to license key COVID-19
vaccine technology may have caused the company to lose potential revenue and increased competitors in the vaccine space.<SUP>20</SUP>
By failing to ensure equitable access to its COVID-19 vaccines when demand was high across all countries, Pfizer lost potential sales
revenues. Delayed and unpredictable deliveries hampered national vaccine roll out plans.<SUP>21</SUP>
Opportunities to build infrastructure, public support and funding to enable vaccine roll out have diminished, in part due to erratic initial
supply.<SUP>22</SUP> As health officials in LMICs have
suggested, had doses arrived earlier, coverage would now be higher.<SUP>23</SUP>
Instead, coverage gaps have persisted even after supplies belatedly became available to LMICs. In response to these challenges, Pfizer
agreed to reduce a US contract for vaccine donations to LMICs by 400 million doses,<SUP>24</SUP>1
foregone revenue of up to $2.8 billion per reported prices.<SUP>25</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>






<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>16</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.wto.org/english/news_e/news22_e/mc12_17jun22_e.htm</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>17</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://ifpma.org/news/pharmaceutical-industry-expresses-deep-disappointment-with-decision-on-waiving-intellectual-property-rights-adopted-at-the-world-trade-organization-ministerial-conference/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>18</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.keionline.org/wp-content/uploads/WHO-zero-draft-pandemic-treaty-1Feb2023.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>19</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.fiercepharma.com/pharma/us-drug-pricing-reform-here-effects-wont-be-felt-some-time-analysts</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>20</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.cnbc.com/2022/05/12/covid-nih-licenses-key-covid-vaccine-technology-to-who-so-other-countries-can-develop-shots.html</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>21</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://itpcglobal.org/blog/resource/mapping-covid-19-access-gaps-results-from-14-countries-and-territories/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>22</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.nytimes.com/2023/02/01/health/covid-vaccines-covax-gavi-prepayments.html</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>23</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.politico.com/news/2022/09/14/global-covid-pandemic-response-bill-gates-partners-00053969</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>24</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.reuters.com/business/healthcare-pharmaceuticals/us-cutting-global-donations-pfizer-covid-shots-demand-slows-2022-09-22/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>25</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.reuters.com/world/us/biden-pledges-new-vaccine-donations-bid-rally-global-pandemic-fight-2021-09-22/</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #201F1E"><FONT STYLE="background-color: white"><I>This communication
should not be construed as soliciting authority to vote any shareholder&rsquo;s proxy, and no proxy cards will be accepted. Please vote
your proxy in accordance with the instructions set forth in Amazon&rsquo;s proxy statement.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">LMICs are calling for sustainable local production
to ensure local access,<SUP>26</SUP> which can address
the delays and unpredictable deliveries that hamper national vaccination plans.<SUP>27</SUP>
Pfizer&rsquo;s transfer of IP and know-how could accelerate these efforts, enabling the company to mitigate reputational risks, generate
licensing revenue, and create long-term value for investors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There is ample reason to believe that technology
transfer could be successful. At least 120 LMIC-based manufacturers can produce mRNA vaccines,<SUP>28</SUP>
15 manufacturers have partnered with WHO to develop and produce mRNA vaccines,<SUP>29</SUP>
and as of September 2022, at least 6 mRNA vaccines by LMIC-based manufacturers were in clinical trials or approved.<SUP>30</SUP>
With Pfizer&rsquo;s support, LMIC-based manufacturers could deliver doses in a matter of months.<SUP>31</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Failing to partner with any of the 120+ manufacturers
in LMICs that could produce the vaccines may also mean leaving profits on the table and incentivizing other manufacturers to develop their
own mRNA COVID-19 vaccines. Rather than earning licensing profits, Pfizer is encouraging competitors to emerge. The WHO and South African
biopharmaceutical company, Afrigen, have already teamed up with more than a dozen LMIC manufacturers to develop an mRNA COVID-19 vaccine,<SUP>32</SUP>
and half a dozen companies based in LMICs were in clinical trials or approved with mRNA vaccines as of September 2022.<SUP>33</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Technology transfer provides a durable strategy
to assure supply and secure revenues, enabling LMICs to manage their own manufacturing capacity while Pfizer can collect licensing revenues
without bearing costs of lost sales.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>4.</B></TD><TD STYLE="text-align: justify"><B>Pfizer&rsquo;s failure to transfer IP and know-how contributes to financial harm by undermining the
global economy.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2023, access to lifesaving COVID-19 vaccines
remains highly inequitable, in part due to inequitable initial distributions by pharmaceutical companies. As of January 2023, 75% of people
in high-income countries are fully vaccinated, compared to 25% of people in low-income countries.<SUP>34</SUP>
COVID-19 vaccine inequities have contributed to illness, deaths, increased risk of new variants, and increased risk of long COVID.<SUP>35</SUP>
These consequences have negatively impacted LMICs&rsquo; economies and overall global economic recovery.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>26</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://africacdc.org/news-item/african-union-and-africa-cdc-launches-partnerships-for-african-vaccine-manufacturing-pavm-framework-to-achieve-it-and-signs-2-mous/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>27</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://itpcglobal.org/blog/resource/mapping-covid-19-access-gaps-results-from-14-countries-and-territories/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>28</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.hrw.org/news/2021/12/15/experts-identify-100-plus-firms-make-covid-19-mrna-vaccines</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>29</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.who.int/initiatives/the-mrna-vaccine-technology-transfer-hub/recipients-of-mrna-technology-from-the-who-mrna-technology-transfer-hub</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>30</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.science.org/content/article/new-crop-covid-19-mrna-vaccines-could-be-easier-store-cheaper-use</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.reuters.com/business/healthcare-pharmaceuticals/indonesia-drug-agency-approves-chinas-walvax-mrna-vaccine-emergency-use-2022-09-29/</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">;
https://www.livemint.com/science/health/gennovas-mrna-shot-for-covid-19-approved-11656521513457.html</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>31</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.keionline.org/35364</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>32</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.reuters.com/world/africa/approval-covid-vaccine-made-south-africa-could-take-3-years-who-says-2022-02-04/</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">;
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://fortune.com/2022/02/04/south-africa-afrigen-moderna-covid-vaccine-mrna-who-hotez-corbevax/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>33</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.science.org/content/article/new-crop-covid-19-mrna-vaccines-could-be-easier-store-cheaper-use</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>34</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://ourworldindata.org/covid-vaccinations</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>35</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://pubmed.ncbi.nlm.nih.gov/35753318/;
https://www.who.int/news-room/feature-stories/detail/the-effects-of-virus-variants-on-covid-19-vaccines;
https://www.gavi.org/vaccineswork/covid-19-vaccination-protects-against-long-covid</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #201F1E"><FONT STYLE="background-color: white"><I>This communication
should not be construed as soliciting authority to vote any shareholder&rsquo;s proxy, and no proxy cards will be accepted. Please vote
your proxy in accordance with the instructions set forth in Amazon&rsquo;s proxy statement.</I></FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The International Chamber of Commerce warned that
failure to ensure developing economies have access to vaccines would cost the global economy as much as $9.2 trillion, and that half of
these losses would fall on advanced economies.<SUP>36</SUP>
The Economist Intelligence Unit projected that vaccine inequity would cost the global economy $2.3 trillion between 2022 and 2025.<SUP>37</SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The WHO suggests that &ldquo;tens of millions,
and perhaps more, have contracted long COVID, <FONT STYLE="color: #121212">and about 15% of those diagnosed with the condition have experienced
symptoms for at least 12 months</FONT>.&rdquo;<SUP>38</SUP>
The effects of long COVID leave many unable to rejoin the workforce for extended periods, further hurting the global economy. For example,
researchers have estimated that long COVID has affected 23 million Americans and has cost the US economy $3.7 trillion, damages equivalent
to that of the Great Recession.<SUP>39</SUP> For investors
who have holdings across sectors, the pandemic&rsquo;s continued drag on the global economy, lack of equitable, sustainable access to
vaccines can damage their broader portfolio of investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><B>III.</B></TD><TD STYLE="text-align: justify"><B><U>CONCLUSION</U></B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pfizer&rsquo;s refusal to transfer lifesaving
technology to manufacturers in LMICs jeopardizes investors&rsquo; long-term financial returns by foregoing potential additional revenues,
threatening the value of investors&rsquo; portfolios as the pandemic continues, sullying the company&rsquo;s reputation, inviting regulatory
risk, and pulling down diversified investors&rsquo; portfolios across the board. Pfizer&rsquo;s voluntary measures to supply its vaccine
to certain LMICs are insufficient, and the company&rsquo;s image and investors&rsquo; portfolios may continue to suffer due to its failure
to contribute to equitable access to the vaccine. Pfizer&rsquo;s approach may even undermine the company&rsquo;s ability to control future
products as governments consider regulatory changes in response to the current failures of equitable access to COVID-19 products. Investors
should understand how these issues have been considered in the company&rsquo;s management of its high-revenue COVID-19 vaccine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Proponents urge investors to vote <B>&lsquo;For&rsquo;
Item 7</B> and ask Pfizer to analyze the feasibility of sharing IP and technical know-how of its COVID-19 vaccine with qualified manufacturers
in LMICs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For more information, please contact Jennifer
Reid at jennifer.reid@oxfam.org.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>36</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://iccwbo.org/media-wall/news-speeches/study-shows-vaccine-nationalism-could-cost-rich-countries-us4-5-trillion/</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>37</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.eiu.com/n/campaigns/how-much-will-vaccine-inequity-cost/#mktoForm_anchor</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>38</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.theguardian.com/society/2022/oct/12/long-covid-who-director-general-oped-tedros-adhanom-ghebreyesus</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><SUP>39</SUP>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">https://www.cnbc.com/2022/11/30/why-long-covid-could-be-the-next-public-health-disaster.html</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #201F1E"><FONT STYLE="background-color: white"><I>This communication
should not be construed as soliciting authority to vote any shareholder&rsquo;s proxy, and no proxy cards will be accepted. Please vote
your proxy in accordance with the instructions set forth in Amazon&rsquo;s proxy statement.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">6</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>




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