Abbott India Ltd

INCLUSIVE VALUE GENERATION

Dear Shareholders,

This has been another remarkable year for Abbott_India. Revenue grew by _._%, our Net Profit growth was __._% over prior year.

We have 7 brands in the Top 100* of the Indian Pharmaceutical Market (IPM), with 12 brands ranking 1st in their Respective Participated Markets (RPMs)*. We accelerated the introduction of new products by launching 8 products during the year.

In our 80^th year of incorporation in India, we continue to show resilience and agility. We are committed to facing current and future challenges.

With optimism and confidence in the management team, your Board has recommended a dividend of H410 per share for the FY 2023-24.

During the year, Vivek V Kamath resigned as the Managing Director effective March 18, 2024. We thank him for his contributions and wish him the best in his future endeavors. Swati Dalal was appointed as Managing Director effective April 1, 2024. She is an Abbott veteran with over three decades of experience across multiple roles within the organization. I am confident that with your support, she will continue to drive the business to greater heights.

Balanced O_erings

Our products help people live fuller lives. Every day, we have the opportunity to improve people's lives and create healthier societies through our work. At Abbott, we consider this opportunity a responsibility and continue to focus on delivering value to all the stakeholders that we serve.

In FY 2023-24, we launched several differentiated integrated engagement campaigns in various therapeutic areas across the healthcare continuum. Our integrated campaign approach continues to include digital, social media channels, and key offline touchpoints.

This approach enables us to reach our stakeholders effectively. Some of our work with these campaigns is also recognized for their unique and wide reach on external platforms.

Using various engagement platforms and tools, we continued to develop meaningful engagement with our stakeholders and are focused to utilize our unique product mix to deliver market-beating performance.

Nurturing Talent

Our people are our strength. We thrive as we create a culture of mutual respect and an environment of learning and innovation. We continue to put our people first and are fully committed to fostering a more diverse and inclusive Abbott. Testament to these efforts is the establishment of Employee Resource Groups (ERGs) focusing on PRIDE and disABILITY.

Employee assistance programs ensure that financial, mental, emotional, and physical health of employees and their families are taken care of. Our continuous investments in the training and development capabilities of our people help us attract and retain top talent in the industry.

To build a future-ready field force we undertake initiatives that help train front-line managers, keep them abreast with the latest marketing practices, and make them more tech savvy to adopt the current health experience and outreach practices. A phygital approach, combining both face-to-face and digital methods, for all our training interventions has been highly effective and impactful.

The Company also received recognition from HDFC Ergo for its "Maternity Management Program – Abbott's Happy Feet", for being one of the "100 Best Companies for Women in India" from Avtar & Seramount BCWI Study – 2023, one of the "Best Place of Work" from the BW People HR Excellence Summit & Awards and as one of the "Best Place to Work For in India" by Business Today.

Growing Responsibly

While caring for people is fundamental to what we do, it is both a tremendous privilege and a great responsibility. We continue to enhance the well-being of individuals in areas where we operate and foster sustainable development by offering innovative solutions and working towards creating more resilient communities.

In collaboration with AmeriCares India Foundation, we upgraded 127 Primary Healthcare Centers (PHCs) to Health and Wellness Centers across 10 States in India. As a science-based company, we continued to empower children (4,600+) through STEM (Science, Technology, Engineering, and Mathematics) learning across 14 schools in Mumbai.

Our commitment to health education spans topics like Non-Communicable Diseases (NCDs), Nutrition, Menstrual Hygiene, and Water, Sanitation, and Hygiene

(WASH), building comprehensive health awareness among youngsters. During the year, 430+ Health Master Trainers were trained in NCD prevention, diagnosis, treatment, and adherence. Through health clinics, we continue to enhance access to healthcare and provide education about various diseases and disorders via healthcare experts in our therapeutic area of operations.

In line with Abbott's global sustainability targets for 2030, we continue to minimize our environmental footprint. Sustained efforts to ensure a reduction in energy consumption/ carbon footprint and optimize use of renewable resources are underway.

We uphold the highest level of governance measures, ensuring complete transparency and conformance to ethical standards.

Future Focused

We are passionate about helping people lead healthier lives. Our focus to create healthier societies is reflected in our performance.

The healthcare industry in India is at a crucial point where increasing consumerization and technology trends highlight an immense potential to improve care. Your Company will continue to play a crucial role in this growth story. We are also keenly observing the regulatory changes in the industry to ensure that our practices, policies, and procedures continue to remain ethical and conform to the highest standards.

Time and again, we have demonstrated our resilience and agility and I remain confident that we will continue to improve health outcomes with high quality products and services.

On behalf of the Board, I would like to thank all our partners, including healthcare professionals, pharmacists, vendors, stockists, retailers, and bankers, for their faith in us and ongoing support. We also appreciate our employees for their commitment, hard work and dedication, no matter what the challenge.

I am grateful to our Shareholders for their trust and to the Board of Directors for their invaluable guidance. We remain motivated and determined to grow sustainably and to create lasting value across all stakeholders. Thank you.

MANAGING DIRECTOR'S MESSAGE

BUILDING A ROBUST FUTURE TOGETHER

Dear Shareholders,

I am extremely privileged to take over the responsibility as the Managing Director of Abbott India Limited. It has been wonderful to see the growth of the Company over the years, and have had the opportunity to move across various roles within the organization.

We have had yet another year of excellent performance and I am happy to share the highlights with you through this Annual Report 2023-24.

Our heritage of over 110 years in India is a proof of the resilience and agility that we have displayed over the years.

Our sales growth of over 9.4% was driven due to multiple business imperatives. During the year, most of our portfolios have performed well while we effectively tackled challenges for some of our key brands.

We continued to focus on our portfolio depth and launched 8 products this year and have a robust pipeline across therapies. We are one of the top three companies in the Indian Pharmaceutical Market (IPM) for multiple therapy areas and have 11 brands in the IPM Top 300*. We continue to grow faster than IPM.

Customer-focused Drive

Delivering quality solutions across the Continuum of Care requires a patient-first culture. At Abbott, we remain committed to connecting with patients and healthcare professionals to raise awareness on treatment options in the therapeutic area of our operations and shape the future of health.

Our Gastroenterology portfolio showed a robust double-digit growth this year and consolidated its market leadership in the segment. This was driven by a good performance of the top brands, Udiliv,

Cremaffin Plus, Creon, and Duphalac. Several beyond-the-pill offerings have also been significantly scaled up in this portfolio. Going forward, the priority will be to develop a robust, sustainable, and profitable promotional strategy, which will include the consumer-oriented legacy brands Cremaffin and

Digene.

Our Women's Health division continued to utilize omnichannel campaigns and initiatives to drive advocacy and strengthen its key brands in the portfolio such as Duphaston, and with "Next Chapter" we continued to shape the treatment landscape for menopause in India and build Femoston in this therapeutic area.

We also leveraged various platforms and experts to raise awareness for Vitamin D deficiency.

Growth in our Central Nervous System portfolio was led by market-beating performance of Vertin, behind the tailwinds of various differentiated initiatives and campaigns, consistent therapy shaping initiatives, and successful product life cycle management.

For Metabolics, Thyronorm continued to lead the growth in the portfolio. During the year, we launched various digital interventions to enhance scientific engagement, and initiatives in collaboration with reputed bodies like Association of Physicians of India, Indian Medical Association and the Indian ThyroidSociety.

In the preventive space, our Vaccine portfolio led robust medico-marketing and awareness plans to improve the pediatric vaccination numbers, especially for Influenza vaccination. We will continue to expand the market for both pediatric and adult populations through newer patient services and product launches to strengthen this portfolio.

Delivering Value to People

We continued to nurture our people during the year.

Abbott is dedicated to building the best-in-class field force to foster market-beating growth. This is reflected through robust onboarding and career development programs for employees across all levels. To establish a strong foundation of knowledge, skills, and engagement, we have implemented a comprehensive induction program called "EMERGE." Our Supervisor orientation program such as "TRANSFORM" continues to facilitate the smooth transition of newly promoted managers into their roles.

Environment, Health and Safety (EHS) continues to remain vital for us. We have implemented several measures to help ensure safety and well-being at the workplace and remain committed to supporting a safe and healthy workplace for our employees, visitors, and contractors.

We strive to address diverse health needs through a collaborative approach and constant drive. We listen to our colleagues and ensure all voices are heard. Our global survey, "Your Voice Counts," aids in gathering valuable employee feedback. We foster an environment that promotes employee growth, with platforms like Women Leaders at Abbott (WLA) and programs like the Employee Assistance Program (EAP). We have launched two Employee Resource Groups (ERG), PRIDE Network and the Abbott disABILITY Network, to enhance diversity and inclusion. We have received external recognition as a top workplace for women in India and for our unique maternity program, ‘Happy Feet'. We are also one of the Best Companies to Work for in India according to Business Today and Business World.

Sustainability E_orts

We remain committed to achieving our Environmental, Social and Governance (ESG) goals across the spectrum. We are constantly striving to conduct our business efficiently and in accordance with environmental laws, regulations, and industrystandards.

We have a holistic approach across our initiatives, and efforts are made to curtail adverse environmental emissions, and impact. Reduced water usage, CO2 responsible waste management are our current focus areas to reduce our environmental impact.

By aiding the communities we serve, we carry forward our purpose into all our efforts. We expanded access to quality and affordable care across newer geographies through new platforms and community health workers. During the year, we also supported more underserved children with STEM Learning, Health Education, and Sports.

Re-Imagining the Future Together

We are excited to be part of the dynamic healthcare industry and provide value to everyone we serve. Our ecosystem is set to gain from innovative technology that enhances health outcomes. These tools have the potential to improve patient care. Observing recent trends in Indian healthcare, our company will keep using data and digital tech to better diagnosis, treatment, and personalized care.

With your steady support, we are confident to keep transforming healthcare and providing value to all involved. Thanks to our Board Members for their guidance and to our Shareholders for their trust.