Merck & Co., Inc. CEDEAR

Merck & Co., Inc. CEDEAR is an Argentine depositary receipt that represents an economic interest in shares of Merck & Co., Inc., a global biopharmaceutical company focused on prescription medicines, vaccines, and animal health products. Its primary purpose is to provide local investors peso-denominated access to Merck’s international equity exposure through the domestic market, with pricing that reflects the underlying U.S. share adjusted by the CEDEAR conversion ratio and prevailing currency dynamics. The program references the U.S.-listed company known for oncology, vaccines, infectious diseases, and cardiometabolic therapies, enabling participation in one of the world’s major pharmaceutical franchises from Argentina. Notably, this CEDEAR is structured with a defined ratio between receipts and the underlying security, a feature that facilitates portfolio sizing, corporate action pass-throughs, and comparability to the reference stock. Within the local market, it functions as a vehicle for diversification and sector exposure to global healthcare, while aligning settlement, custody, and disclosure practices with Argentina’s market infrastructure and CEDEAR program standards.