Adjusted claims of 410.8 million, up 111%

Gross profit of $2.3 billion, up 160%

EBITDA of $1.6 billion, up 131%

EBITDA per adjusted claim of $4.01, up 10%

Cash flow from operations of $2.6 billion, compared to $0.5 billion in the fourth quarter of 2011

Adjusted claims of 1,395.7 million, up 86%

Gross profit of $7.5 billion, up 123%

EBITDA of $5.4 billion, up 103%

EBITDA per adjusted claim of $3.87, up 9%

Cash flow from operations of $4.8 billion, including merger-related costs, up from $2.2 billion in 2011

Total adjusted claims are expected to grow 5% to 7% from 1,395.7 million adjusted claims reported in 2012

Selling, general and administrative expense is expected to decline 8% to 10% from $2,365.9 million reported on an adjusted basis in 2012

EBITDA per adjusted claim is expected to grow 15% to 18% from $3.87 reported on an adjusted basis in 2012

Effective tax rate is expected to be approximately 39%

Diluted shares outstanding is expected to be in a range of 825 million to 835 million

Revenues^(*)

Cost of revenues ^(*)

Gross profit

Selling, general and administrative

Operating income

Other (expense) income:

Equity income from joint venture

Interest income

Interest expense and other

Income before income taxes

Provision for income taxes

Net income from continuing operations

Net loss from discontinued operations, net of tax

Net income

Less: Net income attributable to non-controlling interest

Net income attributable to Express Scripts

Weighted average number of common shares outstanding during the period:

Basic

Diluted

Basic earnings (loss) per share

Continuing operations attributable to Express Scripts

Discontinued operations attributable to Express Scripts

Net earnings attributable to Express Scripts

Diluted earnings (loss) per share

Continuing operations attributable to Express Scripts

Discontinued operations attributable to Express Scripts

Net earnings attributable to Express Scripts

Amounts attributable to Express Scripts shareholders:

Income from continuing operations, net of tax

Discontinued operations, net of tax

Net income attributable to Express Scripts shareholders

Includes retail pharmacy co-payments of $3,304.0 million and $1,412.6 million for the three months ended December 31, 2012 and 2011, respectively and $11,668.6 million and $5,786.6 million for the year ended December 31, 2012 and 2011, respectively.

Assets

Current assets:

Cash and cash equivalents

Restricted cash and investments

Receivables, net

Inventories

Deferred taxes

Prepaid expenses and other current assets

Current assets of discontinued operations

Total current assets

Property and equipment, net

Goodwill

Other intangible assets, net

Other assets

Noncurrent assets of discontinued operations

Total assets

Liabilities and stockholders’ equity

Current liabilities:

Claims and rebates payable

Accounts payable

Accrued expenses

Current maturities of long-term debt

Current liabilities of discontinued operations

Total current liabilities

Long-term debt

Deferred taxes

Other liabilities

Noncurrent liabilities of discontinued operations

Total liabilities

Stockholders’ equity:

Preferred stock, 15.0 shares authorized, $0.01 par value per share; and no shares issued and outstanding

Common stock, 2,985.0 shares authorized, $0.01 par value per share; shares issued: 818.1 and 690.7, respectively; shares outstanding: 818.1 and 484.6, respectively

Additional paid-in capital

Accumulated other comprehensive income

Retained earnings

Common stock in treasury at cost, zero and 206.1 shares, respectively

Total Express Scripts stockholders’ equity

Non-controlling interest

Total stockholders’ equity

Total liabilities and stockholders’ equity

Cash flows from operating activities:

Net income

Net loss from discontinued operations, net of tax

Net income from continuing operations

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

Deferred income taxes

Employee stock-based compensation expense

Bad debt expense

Deferred financing fees

Other, net

Changes in operating assets and liabilities, net of effects of acquisition:

Receivables

Inventories

Other current and noncurrent assets

Claims and rebates payable

Accounts payable

Other current and noncurrent liabilities

Net cash provided by operating activities—continuing operations

Net cash provided by operating activities—discontinued operations

Net cash flows provided by operating activities

Cash flows from investing activities:

Acquisitions, net of cash acquired

Purchases of property and equipment

Purchase of short-term investments

Proceeds from sale of short-term investments

Proceeds from sale of business

Other

Net cash used in investing activities—continuing operations

Acquisitions, cash acquired—discontinued operations

Net cash used in investing activities—discontinued operations

Net cash used in investing activities

Cash flows from financing activities:

Proceeds from long-term debt, net of discounts

Repayment of long-term debt

Repayment of revolving credit line, net

Proceeds from accounts receivable financing facility

Repayment of accounts receivable financing facility

Excess tax benefit relating to employee stock-based compensation

Net proceeds from employee stock plans

Deferred financing fees

Treasury stock acquired

Distributions paid to non-controlling interest

Other

Net cash provided by financing activities—continuing operations

Net cash used in financing activities—discontinued operations

Net cash provided by financing activities

Effect of foreign currency translation adjustment

Less: cash attributable to discontinued operations

Net (decrease) increase in cash and cash equivalents

Cash and cash equivalents at beginning of year

Cash and cash equivalents at end of year

Claims Volume

Continuing operations:

Network

Home delivery and specialty ⁽¹⁾

Total claims

Total adjusted claims—continuing operations⁽²⁾

Discontinued operations:

Home delivery and specialty ⁽¹⁾

Total adjusted claims—discontinued operations⁽²⁾

Depreciation and Amortization (D&A):

Revenue amortization⁽³⁾

Cost of revenues depreciation

Selling, general and administrative depreciation

Selling, general and administrative amortization

Total D&A—continuing operations

Generic Fill Rate

Network

Home delivery

Overall

Gross profit, as reported

Amortization of legacy Express Scripts intangible assets ⁽³⁾

Non-recurring transaction and integration costs ⁽⁴⁾

Accrual related to client contractual dispute ⁽⁵⁾

Adjusted gross profit

Selling, general and administrative, as reported

Amortization of legacy Express Scripts intangible assets ⁽³⁾

Amortization of Medco-related intangible assets ⁽⁶⁾

Non-recurring transaction and integration costs ⁽⁴⁾

Adjusted selling, general and administrative

Net income from continuing operations, attributable to Express Scripts, as reported

Provision for income taxes

Depreciation and amortization

Interest expense, net

Equity income from joint venture

EBITDA from continuing operations, attributable to Express Scripts, as reported

Non-recurring transaction and integration costs ⁽⁴⁾

Accrual related to client contractual dispute ⁽⁵⁾

Adjusted EBITDA from continuing operations, attributable to Express Scripts

Total adjusted claims—continuing operations

Adjusted EBITDA per adjusted claim

EPS from continuing operations attributable to Express Scripts, as reported

Non-recurring/transaction-related items:

Transaction and integration costs ⁽⁴⁾

Medco acquisition pre-close financing costs ⁽⁷⁾

Discrete tax items ⁽⁸⁾

Accrual related to client contractual dispute ⁽⁵⁾

Amortization of:

Legacy Express Scripts intangible assets ⁽³⁾

Medco-related intangible assets ⁽⁶⁾

EPS from continuing operations, adjusted

EPS from discontinued operations attributable to Express Scripts, as reported

Non-recurring/transaction-related items:

Transaction and integration costs ⁽⁹⁾

Amortization of:

Medco-related intangible assets ⁽⁹⁾

EPS from discontinued operations, adjusted

Total EPS attributable to Express Scripts, adjusted

Income from continuing operations, as reported

Income from discontinued operations, as reported

Non-controlling interest

Total operations attributable to Express Scripts

Discrete tax items⁽⁸⁾

Total operations attributable to Express Scripts

Adjusted EPS from continuing operations guidance

GAAP items not included in guidance:

Amortization of legacy Express Scripts intangible assets

Amortization of Medco-related intangible assets ⁽¹⁰⁾

Transaction, integration and other non-recurring costs ⁽¹¹⁾

Includes home delivery, specialty and other including: (a) drugs distributed through patient assistance programs (b) drugs we distribute to other PBMs’ clients under limited distribution contracts with pharmaceutical manufacturers and (c) FreedomFP claims.

Total adjusted claims reflect home delivery claims multiplied by 3, as home delivery claims typically cover a time period 3 times longer than retail claims.

Amortization of legacy Express Scripts intangible assets include amounts in both revenues and selling, general and administrative expense. Revenue amortization is related to the customer contract with WellPoint which consummated upon closing of the NextRx acquisition in 2009. Under U.S. GAAP standards, amortization of intangibles that arise in connection with consideration given to a customer by a vendor is characterized as a reduction of revenues. Intangible amortization of $28.5 million ($17.1 million and $17.9 million net of tax in 2012 and 2011, respectively) is included as a reduction to revenue for the three months ended December 31, 2012 and 2011. Intangible amortization of $114.0 million ($68.8 million and $71.9 million net of tax in 2012 and 2011, respectively) is included as a reduction to revenue for the year ended December 31, 2012 and 2011.

Non-recurring transaction and integration costs include those directly related to the acquisition of Medco Health Solutions, Inc. (“Medco”).

In December 2011, the Company recorded an accrual of $30 million ($18.9 million net of tax) as an offset to revenues for the year ended December 31, 2011 related to a client contractual dispute.

Amortization of intangible assets related to the acquisition of Medco of $472.9 million ($289.6 million net of tax) and $1,433.7 million ($865.2 million net of tax) for the three months and year ended December 31, 2012, respectively is included in selling, general and administrative expense.

Financing costs include fees related to the amortization of remaining bridge loan fees, commitment fees related to the new credit agreement and interest and fees on the senior notes secured in conjunction with the acquisition of Medco. Costs of $63.1 million ($39.5 million net of tax) is included in interest expense in the three months ended December 31, 2011. Costs of $85.2 million ($52.3 million net of tax) and $105.0 million ($66.2 million net of tax) is included in interest expense for the years ended December 31, 2012 and 2011, respectively.

Provision for income taxes includes discrete tax benefits of $51.7 million and $8.2 million for the quarter and year ended December 31, 2012, respectively. These items primarily relate to adjustments to prior year income tax return filings partially offset by a reversal of the deferred tax asset previously established for transaction-related costs that became nondeductible upon the consummation of the Merger.

Net income from discontinued operations, net of tax includes $8.1 milllion ($5.0 million net of tax) and $25.1 million ($15.2 million net of tax) of amortization of intangible assets related to the acquisition of Medco for the three months and year ended December 31, 2012, respectively. In addition, net income from discontinued operations, net of tax for the three months and year ended December 31, 2012, respectively includes a benefit of $3.7 million ($2.3 million net of tax) and charges of $7.8 million ($4.8 million net of charges) in conjunction with the strategic decision to exit various businesses.

Adjusted EPS will exclude amortization of intangible assets. The current estimate of full year amortization based on the preliminary purchase price allocation for the Medco transaction. The preliminary purchase price allocation may be subject to further refinement and may result in significant changes.

Adjusted EPS will exclude Medco-related transaction, integration and other non-recurring costs, including premium on early retirement of debt. The full-year impact of these costs have yet to be determined.