(**Note: Kenvue Inc. upsized its IPO to 172.81 million shares –  up from 151.2 million shares in the prospectus – and priced the IPO at $22.00 – above the mid-point of its $20.00-to-$23.00 range – to raise $3.802 billion on Wednesday night, May 3, 2023. Kenvue’s stock started trading Thursday, May 4, 2023, on the NYSE. Background: Kenvue Inc. filed an S-1/A with its IPO terms on April 24, 2023: 151.2 million shares (151,204,000 shares) at $20 to $23 to raise $3250.0 million – or $3.25 billion. The company filed its S-1 on Jan. 4, 2023.)

Prior to the completion of this offering, we are a wholly owned subsidiary of Johnson & Johnson and all of our outstanding shares of common stock are owned by Johnson & Johnson. After the IPO, Johnson & Johnson will control 91.9 percent of the voting power of Kenvue’s outstanding shares – and in effect, J&J will still control the company.

We are the world’s largest pure-play consumer health company by revenue with $15.1 billion in net sales in 2021. We combine the power of science with meaningful human insights and digital-first capabilities, which we believe empowers approximately 1.2 billion people to live healthier lives every day. Our differentiated portfolio of iconic brands—including Tylenol, Neutrogena, Listerine, Johnson’s, Band-Aid, Aveeno, Zyrtec and Nicorette—is built for moments that uniquely matter to our consumers and, we believe, drives positive health outcomes around the world.

We are a global leader at the intersection of healthcare and consumer goods, with a portfolio of iconic brands, operating in some of the most attractive categories in consumer health from both a growth and profitability perspective. Our consumer health portfolio includes self care, skin care and beauty and essential personal care products, which reflect categories that we believe allow consumers across the world to realize the extraordinary power of everyday care. We hold leadership positions across a $365 billion consumer health market that we expect to grow at a compounded annual growth rate (“CAGR”) of 3% to 4% globally through 2025.

We are well positioned to capitalize on this large market opportunity through our holistic approach to delivering consumer health solutions. This approach starts with our distinctive understanding of various consumer needs, which allows us to apply our consumer insights across multiple categories and brands. These comprehensive solutions are backed by science and recommended by healthcare professionals, which further reinforces our consumers’ connections to our brands.

Our portfolio of brands is widely recognized and represents a combination of global and regional brands, many of which hold leading positions in their respective categories. Ten of our brands had over $400 million in net sales in 2021, and we currently hold five #1 brand positions across major categories globally, in addition to many #1 brand positions locally across our four regions. In 2021, our net sales were well balanced and scaled across three segments: Self Care (38%), Skin Health and Beauty (30%) and Essential Health (32%).

 **Note: Revenue and net income figures are for the fiscal year 2022, which ended Jan. 1, 2023, according to the prospectus.

(Note: Kenvue Inc. filed an S-1/A with its IPO terms on April 24, 2023: 151.2 million shares (151,204,000 shares) at $20 to $23 to raise $3250.0 million – or $3.25 billion. The company filed its S-1 on Jan. 4, 2023.)

(Note: Kenvue Inc. expanded its investment banking team in an S-1/A filing dated March 3, 2023, by adding seven investment banks as joint book-runners – to work with joint lead book-runners Goldman Sachs and J.P. Morgan – along with adding 10 investment banks as co-managers.)