ADVANZ PHARMA Corporate Summary

Jefferies Healthcare Conference November 2019

Important Notices

2

Notice Regarding Forward-Looking Information

Some statements and information contained in this presentation are forward‐looking statements or forward-looking information within the meaning of applicable Canadian securities laws (collectively, “forward-looking statements”). Recipients of this

presentation are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially. Such statements include comments regarding ADVANZ PHARMA and its business,

which may include, but are not limited to, statements with respect to: the ability of ADVANZ PHARMA to execute its strategic pathway to growth underpinned by product pipeline and M&A opportunities, and the ability to acquire and profitably exploit

any of such products and M&A opportunities; the company’s ability to drive value that is not dependent on price optimization; ADVANZ PHARMA’s ability to optimize pricing of its products; ADVANZ PHARMA’s optimization of products via life cycle

management; the company’s ability to drive growth and profitability; the ability of the company to move up the value curve and become a leading speciality pharmaceutical platform with advanced commercial capabilities; the ability of ADVANZ

PHARMA to extract additional value from future product developments and acquisitions based on Europe’s macroeconomic characteristics and regulatory synergies; ADVANZ PHARMA’s ability to expand its product portfolio to deliver mid term value

and long term growth, through pipeline, optimization and partnerships; ADVANZ PHARMA’s ability to deliver a lean and fully leveraged operating model in all areas; ADVANZ PHARMA’s effective utilization of its advanced commercial platforms in the UK,

Ireland and the Nordics; ADVANZ PHARMA’s ability to seek and secure both legacy brands and niche generics on a global scale, while acquiring advanced commercial capabilities in Western Europe to deliver short term growth and mid term value; the

re-energizing of the company through strengthened strategic clarity, culture, brand and leadership; the company’s ability to leverage existing market presence to extract value from the licensing opportunities; the identification of pipeline projects

through market knowledge, distributor relationships and market data analysis; the leveraging of market knowledge and insights to identify attractive market opportunities to launch generic versions of well-established brands in niche areas; ADVANZ

PHARMA’s ability to leverage external partners for product development; the launch of new formulations, dosage forms or strengths of existing products; leveraging the established brand and track record of safety of ADVANZ PHARMA; the company’s

ability to identify unmet market needs through dialogue with pharmacies, physicians or hospitals; continuation and expansion of ADVANZ PHARMA’s relationship with pharma partners and CMO networks; ADVANZ Pharma’s ability to compete with other

pharma companies in niche established medicines; the realization by ADVANZ PHARMA of any or all of its active M&A opportunities; ADVANZ PHARMA’s ability to sign new pipeline contracts by the end of the year; the optimization of the company’s

operational cost base and elimination of the duplication at the executive level; the company’s ability to complete the implementation of corporate cost optimization plan and achieve annual cost savings in the amounts anticipated; ADVANZ PHARMA

becoming the leading platform for niche established medicines with advanced commercial capabilities throughout Western Europe; ADVANZ PHARMA being insulated from adverse trends in the US specialty pharma market; the continuation of

relationships with contract manufacturing organizations; implementation of the company’s strategy including expanding the product portfolio, delivering a leveraged operating model, seeking and securing acquisition opportunities and re-energizing the

company, the ability of the company to complete any near term acquisition opportunities; the ability of ADVANZ PHARMA to enhance its commercial footprint, including the ability of the company to drive volume growth, enhance its profile for

established brands vendors and/or become a preferred partner for innovative medicines; ADVANZ PHARMA’s long-term growth strategy, expectations for YoY decline, potential for growth through targeted promotion, highly scalable business with strong

operating leverage; ADVANZ PHARMA’s outlook for the remainder of 2019 and subsequent years; and the ability of ADVANZ PHARMA to execute and deliver on business plans and growth strategies. Often, but not always, forward‐looking statements and

forward‐looking information can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative and grammatical variations) of

such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Such statements are based on the current expectations of ADVANZ PHARMA’s management, and are

based on assumptions and subject to certain risks and uncertainties. Although ADVANZ PHARMA’s management believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect. The forward‐looking events and

circumstances discussed in this presentation may not occur by certain dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting ADVANZ PHARMA. There can be no assurance that future

developments affecting ADVANZ PHARMA will be those anticipated by management. The forecasts contained in this presentation constitute management's current estimates, as of the date of this presentation, with respect to the matters covered

thereby. ADVANZ PHARMA expects that these estimates will change as new information is received and that actual results will vary from these estimates, possibly by material amounts. While ADVANZ PHARMA may elect to update these estimates at any

time, the company does not undertake to update any estimate at any particular time or in response to any particular event. Recipients of this presentation and others should not assume that any forecasts in this presentation represent management's

estimate as of any date other than the date of this presentation.

Notice Regarding Non-IFRS Measures

Certain financial data included in this presentation, such as Adjusted EBITDA, Adjusted Gross Profit, LTM Revenue, LTM Adjusted EBITDA, Cash Conversion %, Net Leverage, Free Cash Flow, are “non-IFRS measures”. These measures have been defined in this

presentation, or in ADVANZ PHARMA’s most recent management’s discussion and analysis, filed on sedar.com. These measures are not recognized measures under International Financial Reporting Standards (“IFRS”) and do not have a standardized

meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. These measures are provided as additional information to complement IFRS measures by providing further understanding of the

Company’s results of operations from management’s perspective. Accordingly, they should not be considered in isolation nor as a substitute to the Company’s financial information reported under IFRS. Management uses non-IFRS measures to provide

supplemental information regarding the Company’s operating performance and thus highlight trends in the Company’s core business that may not otherwise be apparent when relying solely on IFRS measures.

Future-Oriented Financial Information

To the extent any forward-looking statements in this presentation constitute “future-oriented financial information” or “financial outlooks” within the meaning of applicable Canadian securities laws, such information is being provided to demonstrate the

potential benefits of the company and the recipient is cautioned that this information may not be appropriate for any purpose and the recipient should not place undue reliance on such future-oriented financial information and financial outlooks. No

representation or warranty is given, and no liability is accepted, as to the achievement or reasonableness of any projections, forecasts, estimates, or statements comprising future-oriented financial information or financial outlooks contained, or referred

to, in this presentation and nothing in this presentation is or should be relied on as a promise or representation as to the future. Future-oriented financial information and financial outlooks, as with forward-looking statements generally, are, without limitation,

based on the reasonable assumptions of management of the Company and subject to the risks set out above under the heading “Notice Regarding Forward-Looking Information”.

Notice Regarding Basis of Information

This document, which is personal to the recipient, is issued by ADVANZ PHARMA on a confidential basis solely for the purposes of preliminary discussions between the recipient and ADVANZ PHARMA (the “Discussions”). This document has been prepared

by ADVANZ PHARMA and not by any other person and is furnished to you by ADVANZ PHARMA solely for your information. Recipients of this document further agree to use and apply the confidential information solely for the purposes of the Discussions

and for no other purpose and that at no time will the recipient share the confidential information with any other person without ADVANZ PHARMA’s prior written consent. This document (together with any further information which may be provided to the

recipient) is made available on the condition that it is for use only by the recipient and shall not be passed on to or shared with any other person or reproduced in whole or part, and shall be returned along with any other copies at any time at the request

of any member of the ADVANZ PHARMA Group (as defined below).

No representation or warranty, express or implied, is made by ADVANZ PHARMA or any of its associates, affiliates, subsidiary undertakings or parent entities or subsidiary undertakings of such parent entities (collectively, the “ADVANZ PHARMA Group”) or

any of the respective directors, officers, employees, representatives, advisers or agents of the members of the ADVANZ PHARMA Group as to the fairness, accuracy or completeness of the information, views, expectations or opinions contained in this

document, and no liability whatsoever is accepted by any such person in relation to any such information, view, expectation or opinion. In furnishing this document, ADVANZ PHARMA and its directors, officers, employees, representatives, advisers and

agents undertake no obligation to provide the recipient with access to any additional information or to update this document or additional information or to correct any inaccuracies therein which may become apparent.

This document does not constitute a prospectus or an offer or invitation for the sale or purchase of, or constitute an offer to sell or solicitation of an offer to buy, any shares or other securities in, or any underlying assets of, any member of the ADVANZ

PHARMA Group and does not constitute any form of commitment on the part of any member of the ADVANZ PHARMA Group. Neither this document, nor any other written or oral information made available to any recipient, its agents or its advisers, will

form the basis of any contract or commitment whatsoever. Any proposal regarding a possible transaction between ADVANZ PHARMA and the recipient will only give rise to any contractual obligations on the part of such member of the ADVANZ PHARMA

Group when a definitive agreement has been executed. Members of the ADVANZ PHARMA Group will accept only these obligations which may be set forth in such definitive agreement. The recipient of this presentation is solely responsible for

conducting its own review and analysis of the information contained in this presentation and should consult its own advisers as to operational, legal, tax, accounting and other issues for considering a possible transaction with ADVANZ PHARMA.

In no circumstances will any member of the ADVANZ PHARMA Group be responsible for any costs or expenses incurred by any recipient in connection with any appraisal or investigation of any member of ADVANZ PHARMA Group or for any other costs

and expenses incurred by any recipient.

Our Vision

3

The leading platform for Niche Established Medicines, with advanced commercial capabilities throughout

Western Europe

The Leading Global Platform for Niche Established Medicines

4

Growth Outlook

Underpinned by 3

Strategic Pillars

Attractive Financial

Profile

Leading Global

PlatformGlobal footprint positions us as the partner of choice for mature brands and niche differentiated generics

Lean, asset-light operating model supported by the differentiated India Centre of Excellence

Diversified portfolio of niche established medicines with decades of prescription history and proven safety profile

2

3

1

Attractive growth prospects underpinned by highly active Business Development function along with best-in-class profitability and cash conversion8

Deep pipeline of ongoing product acquisition opportunities, supported by strong relationships with Large Cap Pharma, and an excellent Business Development and integration function

Strong and promising pipeline of niche and differentiated generic medicines from on-going development and in-licensing Business Development activities

5

4

Corporate M&A focused on further developing advanced commercial capabilities in Western Europe6

Skilled Management

Team

Experienced management team with proven M&A capabilities and strong relationships with Large Cap Pharma

7

Note: “Best-in-class” based on Management’s experiences and interactions with other companies

Nitrofurantoin

10%

Zonisamide

8%

Fusidic Acid

6%

Hydroxychloroquine

6%

Codeine Phosphate

5%

>50 years

71%

30-50 years

14%

<30 years

15%

Highly Diversified Portfolio Of Niche Established Medicines

5

Diversified Portfolio Across 180+ Molecules

Established Brands with Proven Safety and

Long-Term Prescription History

1

Revenue Breakdown by Molecules2019

180+Molecules

Years Since Launch Date(1)

Top 15 Molecules

Injectables

18%

Oral Modified Release

9%Ophthalmic

6%Oral Liquid

5%

Topical

4%Others

4%

Oral Solid

54%

Revenue Breakdown by Formulation2019

Differentiated and Complex Formulations

~46%

differentiated

formulations –

Difficult to

replicate

900+SKUs

Revenue Breakdown by SKUs2019

Product 1- 8%

Product 2- 6%

Product 3 - 3%

Product 4 - 3%

Product 5 - 3%

Portfolio of Molecules Split Across 900+ SKUs

1. Top 15 molecules represent ~60% of revenue

Global Product Portfolio Marketed Across 90+ Countries

6

Strong brand equity in

multiple markets

Global, highly diversified

portfolio

Global commercial

capabilities

Decades of prescription

history

• 113 molecules sold to pharmacies and hospitals

• Leading player with strong commercial capabilities and market insights

• Targeted promotion activities to key decision makers

• 52 molecules sold across 15 countries

• Acquisition strategy focused on expanding footprint and enhancing commercial capabilities across Europe

• Nordics represent largest segment In Europe (31% of revenues), followed by Southern Europe (28%)

• Portfolio comprising 14 key brands and 6 authorized generics

• Highly cash generative

• Stable revenues, driven by patient brand loyalty

KeyCharacteristics

• Highly diversified business, comprising 87 molecules, with predictable cash flow generation

• Predominantly branded markets with strong brand loyalty

UK and Ireland Europe RoWNorth America

RoW

16%

2019F Revenue Share (%) /

2019F Revenue Breakdown by Molecules (%)

23%

11%

10%8%7%

UK&I

44%

Well diversified portfolio supported by global commercial capabilities

EUR

14%

NA

26%

19%

10%

8%5%4%

13%

13%

11%

9%6%

31%

22%13%

10%

8%

Scale and Differentiated Profile Positions Us as the Partner of Choice

7

2

Full geographic reach and broad commercial capabilities

Best-in-class onboarding, tech transfer and product management skills

Strong established industry relationships and reputation

Prior experience with product vendors

Excellence in execution

UK & I

EU

NA

RoW

Select Partnership

Examples

Our Global Footprint and Commercial Capabilities…

…Provides a Competitive Advantage in Large Cap Pharma Product Divestment Processes

Our Differentiated Proposition

We provide a global and reliable platform for both large cap divestitures

as well as licensing and development partnerships

Product Acquired Fucithalmic Salagen / Panretin Erythrocin / Akineton /

Transact

Hygroton /

Cafergot

Neomercazole

Centre of Excellence

UK&I

44%

EUR

14%

NA

26%

RoW

16%

Revenue by Region(1)

Global Footprint Positions Us as Partner of Choice for Established Niche Medicines

8

• Global network covering over 90 countries

• ~95 commercial employees

• Direct presence in the UK, Ireland, Nordics, US and Australia

• Strong external distributor partnerships managed through a team of area managers located in France, Italy, Latvia, Algeria, South Africa, Singapore and Argentina

Geographic Presence

CorporateHead Office

Chicago

Ireland

Jersey

France

Benelux

Southern Europe

Maghreb/Africa

Middle East

Nordics

CIS/CEE

Australia

South AfricaLatin America

India

UK

Asia Pacific

Global platform with an extensive commercial footprint

Direct Presence Today

Indirect Markets

Area Manager

ADVANZ PHARMA Offices

Centre of Excellence

Lean, Asset-light Operating Model Underpinned by the Differentiated India Centre of Excellence

9

3

Note: Financial data as of FY2018; employee breakdown as of Jun-19 (including new hire in BD department after June)

Lean,

Asset-light

Operating

Model

Highly

Differentiated

India Centre

of Excellence

• Robust corporate infrastructure

• Critical parts of value chain managed internally

• Minimal capex requirements

• No manufacturing

• Lower operating costs

• Full range of operating activities

• Highly qualified team

• Cost effective

• Scalable

Key Competitive

Advantage

BusinessDevelopment

• BD-led pipeline and product acquisition

• Strong integration team

• Product development outsourced

• Strong internal team of regulatory, quality, medical and technical experts

• Global capabilities

• Professional and scalable project delivery office

• Outsourced to CMOs

• Managed by internal supply chain team

• Highly experienced tech transfer team

• Direct sales

• Area managers

• Longstanding distributor relationships in several markets

• Global commercial support team

Sales andMarketing

ManufacturingScientific Affairs

India

CoE

255

UK

112

EU

12

RoW

44

60% of Employee Base

14%Scientific

Affairs

118

Supply Chain

17

Support and

Management

98Commercial

21

Corporate

Development

1

14% of Employee Costs

6%

6% of Total Costs

Employee Breakdown

Lean, cost efficient and scalable operating model providing distinctive competitive advantage

423 255

India CoE – Highly Scalable Platform with an Experienced and Qualified Workforce

10

Note: Employee data as of June 2019

43

43

16

16Fully Fledged

Scientific

Affairs Team

1

Highly

Experienced

Supply Chain

Management

Team

Commercial Team

Supporting All The

Key Markets

2

3

Well Invested Platform

Function # of

employees

Scientific affairs 118

Supply chain management 23

Commercial/Corp dev 22

Support and management

- Finance- IT- HR- Legal- Other Admin

92

422383

16

Total 255

1

2

3

Highly Skilled and Qualified Workforce

118

Regulatory

Quality

Medical

Technical Operations

15

6

2

23

1110 21UK

RoW

Inventory

Management

Project Delivery Office

Technical Operations

Highly scalable platform with capabilities across the full range of operating activities

Manufacturing Outsourced to a Network of Blue-chip CMOs

11

Strong Relationship with Key CMOs

Wide network of high quality CMOs ensuring local presence, supply reliability and continuity

Wide Portfolio across Various Product Technologies and Formulations

Favourable Supply Terms

Skilled Network of 70 High Quality CMOs Primarily in Europe and North America(1)

Typical Contract

Terms

• Typically five year contracts

• Long termination notice

• No change of control clause

• Exclusive arrangement for key products (CMO cannot supply to others) as IP is owned by ADVANZ PHARMA

IP / MA Ownership

• Marketing Authorisations (MAs) directly or indirectly controlled by us

• Batch documentation, reports, developments etc. owned by us

On-going supply relationship with 7 of the top European 10 CMOs Key CMOs have been suppliers to us for over 10 years

Sterile Injections

• Plastic / glass ampoules, liquid filled / lyophilized vials, terminally sterilized, infusion bags, PF syringes

Liquids and Semi-

solids

• Syrups, aqueous based creams, oil based ointments, suspensions, aseptic drops, gels, plastic / laminated tubes

Oral Solid Dosage

• Granules, effervescent tablets, modified release tablets, soft gel / hard gel capsules, high potency tablets, sugar / film coated tables, oral dispersible tablets

EU

64%

UK

19%

US

11%

Asia

5%Australia

1%

(1) Breakdown of Cost of Goods Sold for Top 10 CMOs

Growth Strategy

AMCo Success Story

Concordia History

From Goldshield to Mercury Pharma ADVANZ PHARMA Today

Amdipharm History

Track Record of M&A and Shareholder Value Creation

13

• Founded in 2002

• Focused on niche mature brands

• Asset light business model

• 75% of sales outside the UK

• Sold to Cinven by the founders in

2012

• New management team

• Deleveraged from 11.8x to

4.6x net debt/EBITDA post-

recapitalization(1) (Sep-18)

• Rebranded to ADVANZ

PHARMA

• Renewed strategic and

operational plan

• Robust growth outlook£299MM £175MM £2.3bn

• Founded in 1989

• Taken private by HgCapital in 2009

• Implemented several initiatives including:

− Divested non-pharma segments

− Refocused on UK mature brands and generics

− Renamed to Mercury Pharma in 2012

• Sold to Cinven in 2012

• Mercury and Amdipharm combined to form AMCo

• Highly successful integration with significant

synergies realised

• Multiple value enhancing acquisitions, including

Focus Pharma, Abcur, Primegen, BNM Group

• Significant increase in scale and geographic reach

• Sold to Concordia in 2015

£108MM £45MM £367MM

Legend

= Revenue at exit

= LTM EBITDA at exit

= Transaction Value at Exit

= EBITDA Multiple at Exit

£97MM £47MM £465MM c.10x c.13x

• Multiple acquisitions including

AMCo in 2015

• Regulatory / competitive pressure

on certain molecules

• High leverage resulting in

constrained balance sheet

• Underwent recapitalisation led by

GSO, Bybrook and Solusc.8x

(1) $250MM FY2018 expected EBITDA at the time of the transaction

Focus on Further Diversifying the Portfolio Mix Towards Higher Value Medicines

14

Definition Selected Brands Key Highlights

• Medicines based on existing molecules that are repurposed to improve outcomes and fulfil unmet patient needs

• Growth products aimed at improving clinicaloutcomes

• Command higher prices due to investment requirements

• Specialised products with a high degree of difficulty to develop and manufacture

• Imminent entry into segment

• High complexity and S&M investments create a sustainable revenue stream

• Generic molecules available in new or exclusive presentations (e.g. form, pack, strength)

• Entered organically through leveraging niche generics business

• Focus on identifying attractive market segments

• Generics aimed at attractive niche therapeutic areas

• Current portfolio was generated through historical and on-going pipeline investments

• BD-led pipeline effort is a key differentiation vs. other mature brands platforms

• Branded, off-patent medicines with long prescription history

• Long term core focus

• Stable products which have been marketed for decades

• Pockets of growth potential for assets acquired with global licenses

Present in Segment Imminent entry into segment Future focus area

Value Added Medicines

High Barrier Specialty

Differentiated Generics

Niche Generics

Established Brands

We maintain a focused product portfolio of niche established medicines and engage in a strategy of

investment and innovation around unmet patient needs

Growth Outlook Underpinned By 3 Strategic Pillars

15

Product PipelineProduct

Acquisitions

Corporate

M&A

Business Development

active projects for

Western European

platforms2

development and in-

licensing launches in

2020-23100+

44 5 6

Fully equipped to successfully execute on business development and M&A plan

active and near-term

product acquisition

opportunities in pipeline25+

Multi-faceted Pipeline Engine

Moving up the Value CurvePipeline Categories

16

Continued investment into product pipeline with increasing focus on differentiated product profiles

Dossier in-Licensing

• In-license rights to a 3rd party product for certain territories

• Leverage existing market presence

• Generally entails full ownership of MA and ability to change manufacturer over time

Product Development

• Attractive opportunities for generic versions in niche / complex areas

• New formulation / strengths of existing products

• Fee for service model with selected development partner

• IP owned by ADVANZ PHARMA

Distribution Agreements

• Leverage market knowledge and relationships with distributors

• Low cost, low risk agreements

• Leverage existing market presence

• IP remains property of the partner

1

2

3

1 2

1 2

3

Established Brands

Niche Generics

Differentiated Generics

High BarrierSpecialty

Value AddedMedicines

Ris

k P

rofile

Growth Potential

1 2

1 2

3

Deep Pipeline of Near-term Product Launches

17

Top 15 Products

2019 2020 2021 2022 Geography# of

CountriesProduct Type Project Status

Product A NZ 1 Niche Gx MA Approved

Product B UK 1 Niche Gx Pre-Registration

Product C Europe, RoW 13 High Barrier Specialty MA Submitted

Product D UK 1 Differentiated Gx MA Submitted

Product E UK 1 Differentiated Gx MA Submitted

Product F UK 1 Niche Gx MA Submitted

Product G Nordics 4 Differentiated Gx Pre-Registration

Product H UK 1 Differentiated Gx Pre-Registration

Product I UK, NO, NZ 6 Niche Gx Pre-Registration

Product J France 1 Niche Gx Pre-Registration

Product K EU, ANZ 12Value Added Medicine

Pre-Registration

Product L Europe, RoW 14 High Barrier Specialty MA Submitted

Product M UK 1 Niche Gx Pre-Registration

Product N UK 1 Niche Gx Pre-Registration

Product O ZA 1 Niche Gx Pre-Registration

Development In-licensing Out-licensing

Strong Product Divestment Momentum in the Mature Brands Sector

18

2013 2014 2015 2016 2017 2019 YTD2018

ADVANZ PHARMA / predecessor transactions

(Salagen®, Panretin ®)

Sunstar

Suisse(GelX)

(Indocin)

(Sylvant)

(Rohypnol)

(Reisegold)

(Ophthalmic portfolio)

(Fucithalmic®)

(pedriatic porfolio)

(5 products)

(Non-U.S. Developed

Markets)

(IRENAT)

(Zonegran®)

(Donnatal®)

(Ulesfia®)

Lachlan

Pharma

(Vesanoid Japan &

Dilatrend)

(Calcivit)

(Seloken & Logimax)

(Ametop)

(Vamousse)

(3 products)

(Prilosec)

(3 products)

(Aldactone)

(UCB Package)

(Streptosil)

(Entocort)

(Portfolio in India)

(18 products)

(Betapace,

Betapace AF)

(Altoprev)

(27 dermatology

assets)

(Hemostasis portfolio)

(Xenical & Anexate)

(Dermatology business)

(Non-aesthetics

business)

(4 products)

(Sular)

(Esidrex, Sintrom, Digoxin)

(Toprol-XL)

(5 products)

(Tekturna & Rasilez)

(14 brands)

“We continue to streamline our portfolio, allowing AstraZeneca to allocate resources more effectively(…)”AstraZeneca CEO, Nov-18

“(…) the time is right for Novartis to divest a non-core asset (…) to allocate capital to grow our core businesses, drive shareholder returns, and execute valuecreating bolt-on acquisitions (…)” Novartis CEO, Mar-18

“Takeda seeks to divest $10bn of assets after £46bn Shire deal”Forbes, 7 January 2019

ADVANZ PHARMA’s capital structure constrained

(4 products)

(Visudyne)

(5 products)

(Atacand)

(Portfolio in the Nordics)

(Seroquel)

(Sandoz portfolio and

generics)

(Nizoral)

(Synagis)

(3 products)

(Recothrom &

Preveleak)

(Skenan, Actisken)

(Signifor))

… As Demonstrated by Our Track Record of Value Enhancing Product Acquisitions

Eltroxin®, Liothyronine®

Diamox® Hygroton®, Ludiomil®, Cafergot®

Hytrin® Salagen®, Panretin®

Macrodantin®, Furadantin®,

Macrobid®, Furabid®

Erythrocin®, Akineton®, Transact®

Neomercazole® Fucithalmic®

1992 1999 2001 2004 2006 2007 2008 2019

Donnatal®Kapvay®, Orapred®

2013

Zonegran®

2014

19

Our Strategic Mindset for Corporate M&A

20

Business model fit

Product portfolio fit

Synergy potential

Enhance commercial

capabilities in Western Europe

Value creation

Enhancing our Commercial Footprint Will Add Further Growth Levers to our Model

21

Drive volume of selected mature brands within our existing portfolio and

pipeline of niche products

Further increase our appeal to vendors of established brands through deeper

commercial presence and strengthened ability to optimally manage the

divested product in key European markets

Reinforce our position as partner of choice to in-license / develop and market

high value, niche established medicines with high barriers to entry

Drive Volume Growth

Enhanced Profile for

Established Brands

Vendors

Platform for High Value

Pipeline Opportunities

Expand to patented and biosimilar products, through partnering with non-EU

pharma companies seeking a leading commercial platform to out-license

their products

Become Preferred

Partner for Specialty

Medicines

Highly Experienced Management Team With Proven M&A Capabilities And Strong Relationships With Large Cap Pharma

22

Highly experienced management team with deep sector and M&A experience

Graeme Duncan

Chief Executive Officer

Rob Sully

General

Counsel

• Joined Goldshield in Jun-11

• Extensive experience in M&A, integration and anti trust dispute resolution in the pharma sector

Fiona Huzarski

Vice President

Global Human

Resources

• Joined ADVANZ PHARMA in Aug-19

• Previously Head of HR at Britannia Pharmaceuticals

Karl Belk

Chief

Operations

Officer

• Joined Mercury Pharma in Nov-12

• 26 years at Teva, most recently as Operations Director

Guy Clark

Chief Corporate

Development

Officer

• Joined Concordia in May-18

• Chief Strategy Officer at Mercury Pharma for 2010-15

• Previously President of Glenmark Europe

Simon Tucker

President

International

• Joined Goldshield in Jun-00

• President of the International segment since 2013

Paul Burden

President of UK &

Ireland &

Corporate

Communications

• Joined Concordia in Sep-16

• Previously Senior Director at Teva UK

• 20+ years of commercial strategy experience

Adeel Ahmad

Chief Financial Officer

7

• Joint oversight of India Centre of Excellence

Attractive Financial Profile

23

8Financial Profile (US$m) As of Sep-19

LTM Revenue(2) 504

LTM Adj. EBITDA(2) 233

Adj. EBITDA Margin (%) 46%

Cash Conversion (%)(3) 99%

Net Leverage (x) 4.6x

Quarterly Adjusted EBITDA and Margin

(1) Includes US and Canada(2) As reported (i.e. does not include the full year impact of Salagen®/Panretin® acquisitions, US$11m of revenue

and US$7m of EBITDA, and full year impact of cost optimization initiatives)

(3) (Adj. EBITDA – Capex) / Adj. EBITDA

7267

5953

6560 56

47% 48% 46% 45%48% 46% 47%

0%

10%

20%

30%

40%

0

20

40

60

80

100

120

Q1-2018 Q2-2018 Q3-2018 Q4-2018 Q1-2019 Q2-2019 Q3-2019

Adjusted EBITDA Margin

Attractive financial profile with leading

profitability and cash conversion

Highly cash generative business with strong

EBITDA margins

Net Leverage below industry peers

Relatively consistent financial performance

over the last four quarters.

Adjusted EBITDA margins have remained

stable over the past two years despite a

challenging competitive environment.

Commentary

What’s Next – Move Up the Value Curve

24

Focused on moving up the value curve and becoming a leading specialty pharmaceutical platform with

advanced commercial capabilities in Europe

Product Portfolio

Commercial Capabilities

Platform for Partnership

FutureToday

• Highly diversified product portfolio

• Established brands

• Niche and differentiated generics

• Continue to enrich portfolio via BD-led product pipeline and acquisitions

• Add high barrier specialty products

• Value added medicines and other products which require promotion

• Capabilities in selected European

markets, Australia and North America

• Global reach with strong relationships

with distributors in over 90 countries

• Expand Western European

commercial platform via corporate

M&A

• Deeper commercial capabilities will

enable high value pipeline

opportunities

• Preferred licensing partner for niche

generics

• Become preferred partner for

innovative or biosimilar medicines

ADVANZ PHARMA Corporate Summary

Jefferies Healthcare Conference November 2019