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Joint venture demonstrates innovative strength of two companies with impressive and trusted
healthcare heritage in the German wholesale market

Deerfield, Ill. and Irving, Texas, Nov. 2, 2020 – Walgreens Boots Alliance (Nasdaq: WBA) and McKesson
Corporation (NYSE: MCK) today announced the completion of their previously announced agreement to
create a joint venture combining their respective pharmaceutical wholesale businesses in Germany,
Alliance Healthcare Deutschland (AHD) and GEHE Pharma Handel (GEHE). WBA holds a 70 percent
controlling equity interest in the joint venture and McKesson holds the remaining 30 percent interest.

“At Walgreens Boots Alliance, we all look forward to working together with McKesson Corporation on
this joint venture,” said Ornella Barra, co-chief operating officer, Walgreens Boots Alliance. “It is a very
exciting step for our Pharmaceutical Wholesale Division and a unique chance for us to further develop
innovative services to manufacturers and pharmacists in Germany.”

“The completion of this strategic partnership with Walgreens Boots Alliance enables us to strengthen
and secure the future of pharmaceutical distribution in the German market,” said Kevin Kettler,
chairman of the management board and president McKesson International. “Together, we look forward
to delivering a successful model of operations to benefit the German healthcare ecosystem of patients,
pharmacies and manufacturers.”

With future challenges in the healthcare sector, the new company is committed to strengthening the
pharmacist’s position as a healthcare professional, creating innovative added value services and
significantly enhancing digitalization and operational excellence.

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