Summary of Important Points from Walgreen Conference Call

• Adjusted earnings per diluted share of $0.85, and GAAP diluted EPS of $0.65 • Long-term relationship with AmerisourceBergen • Cash flow from operations was $1.4 billion, with $1.1 billion in free cash flow • On track to deliver $125 million to $150 million in combined synergies • Sales landed at $18.3 billion, up 3.2 percent year over year • GAAP operating income hit $991 billion, up 13.5 percent • Non-GAAP adjusted operating income landed at $1.2 billion, an increase of 22.9 percent • Non-GAAP adjusted net earnings recorded at $812 million compare to $628 million • Comp prescription sales increased 2 percent, comp front-end sales increased 0.4 percent • FIFO gross margin was 29.2 percent compared to 28.6 percent last year

• Further adjustments to pricing and promotions, implementing a number of meaningful changes to the weekly ad • Focusing on maximizing the value of the Balance Rewards program - turning the focus from enrollment to redemption and rewards • Enhancing the store segmentation to better meet the local needs and preferences of each communities

opened on Thursday at $45.24.