Dear Stakeholders,

Merck has a rich heritage of corporate responsibility. We are dedicated to providing leading innovations and solutions for tomorrow, while holding ourselves to a high standard of performance and conduct with all stakeholders.

In my position as Lead Director and Chair of the Board's Committee on Governance, Public Policy and Corporate Responsibility, I am aware of the many challenges we face as a company. I recognize the committee’s responsibility to advise the Board and management on policies and practices that pertain to the company’s responsibilities as a global corporate citizen.

In fact, I believe how we govern ourselves as a company is as important as anything else we do. Good corporate governance benefits our customers and patients, as well as our shareholders, and is essential to our long-term business success.

The Board will continue to examine our global policies and practices to make sure our business operations are in line with our corporate responsibility framework. We will assess the company's progress toward our corporate responsibility goals and commitments, making sure that:

• Our policies and practices reflect our values and business goals
• We have an effective corporate governance structure
• We are operating in a way that is open and transparent

Through innovative research, groundbreaking partnerships and smarter processes, we are prepared to lead in the future of healthcare. As we do so, we will remain competitive and committed to the idea that corporate responsibility makes good business sense.

Sincerely,

William B. Harrison, Jr.
Lead Director and Chair, Committee on Governance, Public Policy and Corporate Responsibility
August 2012