Presentation Slides from:

"State of the Gilead"

July 10, 1992

Outline

1. Gilead's business is science.

2. Finance has its ups and downs.

3. There's a lot of competition out there.

4. The past 12 months were stellar.

5. The next 12 months will be hard.

6. Our rapid growth must be disciplined.

7. We are only as good as our principles.

January 1988

3

January 1989

12

THE GROWING GILEAD TEAM

January 1990

26

January 1991

37

January 1992

58

July 10, 1992

92 (+8)

(Est.) January

1993

115

Cumulative Financing History

$(in millions) 140

120

100

80

60

40

20

0 1988 1989 1990 1991 1992

Year Ended March 31

.IPO

.Corporate Partner

.Venture

Team-work Characteristics Attitudes

We're in this boat together R & D is a team effort 11Credit" is shared We teach each other We are receptive to the ideas of others

Diverse personalities are accepted

Abilities Performance that warrants the respect of colleagues

Communication: written, oral or informal

Problem solving

Practices Accepting responsibility for yourself

Walking around

Taking risks

DATA

INNOVATION

TEAMWORK

AGILITY

PERSEVERANCE

INTEGRITY