Baxalta 2015 Investor Conference May 19, 2015

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Eric W. Foster is expected to serve as Senior Vice President and Chief Information Officer for Baxalta upon completion of the separation. Mr. Foster brings more than 15 years of IT leadership experience to his role. He has served as Vice President of Information Technology for Baxter since joining the company in 2006. Prior to joining Baxter, Mr. Foster served as Chief Technology Officer for Publicis Groupe from 2002-2006, and served as Vice President, Technology Infrastructure and Operations for Heller Financial. He began his career at Accenture. John Furey is expected to serve as Senior Vice President and Head of Global Operations for Baxalta upon completion of the separation. Mr. Furey has more than 25 years of industry experience. He was appointed to his current role as Head of Global Operations in 2014 and is expected to continue in that role until the separation is complete. He joined Baxter in 2013 as Global Franchise Head, Vaccines. Prior to Baxter, he spent 20 years with Wyeth and Pfizer, holding roles of increasing responsibility within the biotech and vaccines divisions, including General Manager for Vaccines in China, various leadership roles in commercial, product supply and manufacturing operations. Early in his career he was an engineering manager at Analog Devices and served as a Scientific Officer with Ireland s National Scientific Agency. John Glasspool is expected to serve as Executive Vice President and Head of Corporate Strategy and Customer Operations for Baxalta after completion of the separation. Mr. Glasspool has more than 20 years of industry experience. He has served as Baxter s Vice President, New Therapies and Market Developments since 2012 and is expected to continue in that role until the separation is completed. Mr. Glasspool had previously spent approximately 10 years with Novartis Pharmaceuticals, where he served in several Senior Vice President and Vice President positions, including Head of Region/Europe, Vaccines and Diagnosis and Head of Pricing, Market Access and Commercial Operations. Mr. Glasspool previously held key positions in marketing and sales for Johnson & Johnson and Scotia Pharmaceuticals. Brian Goff is expected to serve as Executive Vice President and President, Hematology for Baxalta upon completion of the separation. Mr. Goff has more than 20 years of industry experience. He has served as Baxter s Global Franchise Head for Hemophilia since June 2012 and is expected to continue in that role until the separation is completed. Prior to joining Baxter, Mr. Goff was the Vice President and Head of the Primary Care Business Unit for Novartis Pharmaceuticals and had served in other key leadership positions at Novartis since 2005, including global brand leadership in Basel, Switzerland. Before joining Novartis in 2005, he worked for 14 years in key positions in sales and product management in the pharmaceutical division of Johnson & Johnson.

Ludwig N. Hantson, Ph.D., is expected to serve as the President and Chief Executive Officer of Baxalta. Dr. Hantson has served Baxter as Corporate Vice President and President, BioScience, having served in that capacity since October 2010, and is expected to continue in that role until the separation is completed. Dr. Hantson joined Baxter in May 2010 as Corporate Vice President and President, International. From 2001 to May 2010, Dr. Hantson held various positions at Novartis Pharmaceuticals Corporation, the most recent of which was Chief Executive Officer, Pharma North America. Prior to Novartis, Dr. Hantson spent 13 years with Johnson & Johnson in roles of increasing responsibility in marketing and clinical research and development. Robert J. Hombach is expected to serve as the Executive Vice President, Chief Financial Officer and Chief Operations Officer of Baxalta. He has served as Corporate Vice President and Chief Financial Officer of Baxter since July 2010 and is expected to continue in that role until the separation is completed. From February 2007 to March 2011, Mr. Hombach also served as Treasurer of Baxter and from December 2004 to February 2007, he was Vice President of Finance, Europe for Baxter. Prior to that, Mr. Hombach served in a number of finance positions of increasing responsibility in the planning, manufacturing, operations and treasury areas at Baxter. Rachelle Jacques is expected to serve as Vice President and Head of Business Operations for Baxalta upon completion of the separation. Ms. Jacques has more than 20 years of financial and business leadership experience. Since July 2014, she has served as Vice President, Head of Business Operations for Baxter s BioScience organization. She joined Baxter in 2013 as Vice President, Finance. Prior to joining Baxter, she spent 17 years in a number of progressive financial, commercial and business leadership roles at Dow Corning Corporation, including leadership assignments in the US, Belgium and China. She started her career with auditing positions at Deloitte & Touche LLP and Ernst & Young LLP where she earned her CPA. Claude Knopf is expected to serve as Vice President, Business Development and Mergers & Acquisitions for Baxalta following completion of the separation. He is currently Head of BioScience Business Development and M&A for Baxter, a role he has held since he joined the company in July 2013. Previously, Mr. Knopf was with Novartis for 12 years and held several key global and regional leadership roles in Business Development and Licensing and Alliance Management based in Europe and the U.S. with the Pharma Division, the OTC Division and Vaccines. Mr. Knopf played a key role in developing the Global Alliance Management function at Novartis, and built up a strong Business Development and Licensing group for the European Pharma Region. Prior to Novartis, he worked at Merck for six years in key management positions in marketing, sales and finance.

Mary Kay Ladone is expected to serve as Senior Vice President, Investor Relations for Baxalta upon completion of the separation. Ms. Ladone has almost 27 years of industry experience. She has served as Corporate Vice President, Investor Relations for Baxter since 2009. Since joining Baxter in 1988, Ms. Ladone has held key finance roles with increasing responsibility, ranging from financial planning and reporting, to commercial operations, logistics, supplier management and business development. She is a member of the board of trustees of Edward/Elmhurst Healthcare, and has chaired the board s finance, investment and governance committees. Ms. Ladone is also the recipient of numerous awards, including a top ten ranking by Institutional Investor Magazine in 2015 for Best Investor Relations Professional. Anne-Marie Law is expected to serve as Executive Vice President and Head of Human Resources for Baxalta upon completion of the separation. Ms. Law has more than 25 years of human resources experience. From 2009 until joining Baxalta in 2015, Ms. Law served in various senior positions at McKesson Corporation, including most recently as Senior Vice President, Human Resources McKesson Specialty Health/US Oncology since 2011. Ms. Law also served as Senior Vice President, Global Human Resources of VeriSign, Inc. from 2007 to 2009. Prior to joining VeriSign, Ms. Law spent approximately eight years in human resources leadership positions with Xilinx, Inc. Ronald L. Lloyd is expected to serve as Executive Vice President and President, Immunology for Baxalta upon completion of the separation. Mr. Lloyd has more than 25 years of industry experience. He has served as Baxter s Global Franchise Head for BioTherapeutics since 2014 and is expected to continue in that role until the separation is completed. From 2011-2013, Mr. Lloyd served as General Manager, BioScience US Region. Previous roles at Baxter include General Manager, Regenerative Medicine and Vice President of Global Marketing. Prior to joining Baxter in 2003, Mr. Lloyd held key positions in marketing and business development at Abbott Laboratories and Anaquest, a division of British Oxygen Corporation. John A. McCoy is expected to serve as Senior Vice President and Controller for Baxalta upon completion of the separation. Mr. McCoy has more than 20 years of financial leadership experience. He has served as Vice President, Corporate Audit for Baxter since 2013 and is expected to continue in that role until the separation is completed. Mr. McCoy joined Baxter in 2007 and has served in a number of financial leadership roles including Vice President, Finance for the U.S. Medical Products business and Vice President, Assistant Corporate Controller. Prior to joining Baxter, Mr. McCoy spent ten years with Eli Lilly, serving in a number of financial management roles, and two years as a business manager for MacMillan Publishing. He began his career at PriceWaterhouse Coopers.

David D. Meek is expected to serve as Executive Vice President and President, Oncology for Baxalta upon completion of the separation. Mr. Meek has more than 25 years of industry experience. He has served as Baxter s Vice President, Global Head of Oncology since 2014 and is expected to continue in that role until the separation is completed. Mr. Meek served as Chief Commercial Officer of Endocyte, Inc., a public biopharmaceuticals company, from 2012 to 2014. Mr. Meek previously spent approximately eight years with Novartis Pharmaceuticals, where he served in several leadership positions, including Region Head, Novartis Oncology, in Europe and President and CEO of Novartis Canada. Prior to joining Novartis, Mr. Meek spent approximately 15 years with Johnson & Johnson, where he served in various marketing and sales executive leadership roles. Stephanie D. Miller is expected to serve as Senior Vice President and Corporate Secretary for Baxalta upon completion of the separation. Ms. Miller has more than 13 years of securities law and corporate governance experience. She has served as Senior Counsel, Securities and Governance for Baxter since 2014. Ms. Miller joined Baxter in 2012 as Corporate Counsel, Securities and Governance. Prior to joining Baxter, Ms. Miller worked for Axiom Legal as a securities and governance attorney, focused in the healthcare and medical industries, and spent seven years as an associate in the Securities and Public Companies group of Ropes & Gray LLP. John J. Orloff, M.D. is expected to serve as Executive Vice President and Head of Research & Development for Baxalta upon completion of the separation. Dr. Orloff has more than 30 years of industry and clinical experience, and, prior to joining Baxter in 2014 as Vice President, R&D in Bioscience, Dr. Orloff served as the Global Head of Clinical Development at Merck Serono Pharmaceuticals since 2014. He previously spent approximately 10 years with Novartis Pharmaceuticals, where he served in several Senior Vice President and Vice President positions, including Chief Medical Officer, Head of U.S. Medical and Regulatory Affairs and Global Head of Regulatory Strategy for Drug Regulatory Affairs. Prior to Novartis, Dr. Orloff spent 6 years in leadership roles at Merck Research Laboratories and 7 years on the faculty of the Yale University School of Medicine. Dagmar Rosa-Björkeson is expected to serve as Executive Vice President and President, Biosimilars upon completion of the separation. Ms. Rosa-Björkeson has 25 years of industry experience and, prior to joining Baxter as its biosimilars program leader in 2014, she served in multiple capacities at Novartis Pharmaceuticals over 17 years where she was most recently Vice President, Head of Multiple Sclerosis. Previously she held other Vice President positions at Novartis, including having served as Country Head for Sweden and in leadership roles focused on sales and branding. Before her time at Novartis, she held sales oriented roles with Forest Pharmaceutical, Ferguson Advertising and Hoechst-Roussell Pharmaceuticals.

Rana Strellis is expected to serve as Head of Communications, Diversity & Inclusion and Culture for Baxalta upon completion of the separation. In 2013, Ms. Strellis was named Head of Strategy and Business Operations for Baxter BioScience, a position she held until January 2015. From 2011-2013 she served as Channel Marketing Leader for Immunology and Operations Launch Leader for HyQvia. Prior to her marketing roles, Ms. Strellis held a number of roles of increasing responsibility in the Human Resources organization, including Director, Human Resources for Hemophilia and Immunology from 2007-2011, and Director, Human Resources, Global Finance and R&D from 2004-2007. She joined Baxter in 1997 as a Human Resources Development Associate. Todd S. Young is expected to serve as Senior Vice President and Treasurer for Baxalta upon completion of the separation. Mr. Young has more than 18 years of finance and tax experience, primarily in the healthcare industry. He has served as Baxter s Corporate Vice President and Treasurer since 2013. Mr. Young joined Baxter in 2001 as Corporate Tax Counsel and over the years has served in a number of positions of increasing responsibility, including Vice President of Finance for the company's international regions, Vice President of International Tax, Assistant Treasurer, Vice President of Finance for the Asia Pacific region, and Vice President of Global Financial Planning and Analysis. Prior to joining Baxter, Mr. Young worked as a tax attorney at Sidley & Austin. Patrice Zagame, M.D. is expected to serve as Executive Vice President and President, Intercontinental for Baxalta upon completion of the separation. Dr. Zagame has more than 25 years of industry experience and, prior to joining Baxter in 2014, Dr. Zagame was Country Head for Brazil at Sanofi, a position he held since 2013. He was employed by Novartis Pharmaceuticals since 1996, where he served as a country head in several other emerging and developed markets, including France, Venezuela and Argentina, as well as serving terms as Head of Pharma Division, Regional Marketing Director and Integration Officer. Prior to his time at Novartis, Dr. Zagame held management and sales positions at Glaxo-Wellcome and Rhone- Poulenc.