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Cautionary Statement

These webcasts, presentations and transcripts contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, future operating and financial performance, product development, regulatory approvals, market position, expenditures, impact of acquisitions and dispositions, business strategy and restructuring plans. These statements use words, and variations of words, such as "will," "plan," "expect," , "anticipate," "estimate," "next," "project," "potential," "continue," "expand" and "grow". You are cautioned not to rely on these forward-looking statements. These statements are based on current assumptions and expectations of future events at the time they are made and thus are inherently subject to uncertainty.

If underlying assumptions prove inaccurate, or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed in these forward-looking statements. Risks and uncertainties include, but are not limited to: economic and financial market factors, such as interest rate and currency exchange rate fluctuations; competition, including technological advances, new products and patents attained by competitors; challenges inherent in product development, including uncertainty of clinical success and obtaining regulatory approvals; challenges to patents; the impact of patent expirations; uncertainty of commercial success of new and existing products; significant adverse litigation or government action, including related to product liability claims; the ability of the company to successfully execute strategic plans including restructuring plans; the impact of business combinations and divestitures and the possibility that the expected benefits and opportunities of an acquisition are not realized in the anticipated time frame or at all; changes in behavior and spending patterns or financial distress of purchasers of health care products and services; changes to applicable laws and regulations, including tax laws and global health care reforms; trends toward health care cost containment; financial instability of international economies and legal systems and sovereign risk; manufacturing difficulties or delays, internally or within the supply chain; increased scrutiny of the health care industry by government agencies; product efficacy or safety concerns resulting in product recalls or regulatory action; and the potential failure to meet obligations in compliance agreements with government bodies.

A further list and description of these risks, uncertainties and other factors can be found in the company's most recently filed Annual Report on Form 10-K and Quarterly Report on Form 10-Q, including in the sections captioned “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors,” and in the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, on this Internet site (www.jnj.com) under “Investors—SEC Filings,” or on request from Johnson & Johnson. Information in each of these presentations is as of the dates and time periods indicated therein, and the company does not undertake to update any of the information contained in these materials. Accordingly, YOU SHOULD NOT RELY ON THE ACCURACY OF ANY OF THE STATEMENTS OR OTHER INFORMATION CONTAINED IN ANY ARCHIVED WEBCASTS OR ON DEMAND VIDEOS.

Webcasts on this website are the property of Johnson & Johnson. Any redistribution, retransmission or rebroadcast of this webcast in any form without the express written consent of Johnson & Johnson is strictly prohibited. Please see our Legal Notice for more information about the content of this website and copyright laws.

* Additional Information and Where to Find It

This communication is for informational purposes only and is not an offer to sell or exchange, a solicitation of an offer to buy or exchange any securities and a recommendation as to whether investors should participate in the exchange offer. Kenvue has filed with the SEC a registration statement on Form S-4 (the “Registration Statement”), including the Prospectus forming a part thereof, and Johnson & Johnson has filed with the SEC a Schedule TO, which more fully describes the terms and conditions of the exchange offer. The exchange offer will be made solely by the Prospectus. The Prospectus contains important information about the exchange offer, Johnson & Johnson, Kenvue and related matters, and Johnson & Johnson will deliver the Prospectus to holders of Johnson & Johnson common stock. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROSPECTUS, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC, WHEN THEY BECOME AVAILABLE AND BEFORE MAKING ANY INVESTMENT DECISION, BECAUSE THEY CONTAIN IMPORTANT INFORMATION. None of Johnson & Johnson, Kenvue or any of their respective directors or officers or the dealer managers appointed with respect to the exchange offer makes any recommendation as to whether you should participate in the exchange offer.

Holders of Johnson & Johnson common stock may obtain copies of the Prospectus, the Registration Statement, the Schedule TO and other related documents, and any other information that Johnson & Johnson and Kenvue file electronically with the SEC free of charge at the SEC's website at https://www.sec.gov.

Holders of Johnson & Johnson common stock will also be able to obtain a copy of the Prospectus by clicking on the appropriate link on http://www.JNJSeparation.com.

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