The New Notes may not be offered or sold in the United States or to any U.S.

The New Notes will not be registered under the Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws. LLC served as Co-Dealer Managers and Solicitation Agents for the Exchange Offers and Consent Solicitations. LLC, RBC Capital Markets, LLC and Morgan Stanley & Co. served as Joint Lead Dealer Manager and Solicitation Agent, and each of BofA Securities, Inc., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Goldman Sachs & Co. Morgan Securities LLC served as Lead Dealer Manager and Solicitation Agent, Citigroup Global Markets Inc. Each Supplemental Indenture became effective upon execution thereof by the relevant Issuers, the guarantors thereto and Wells Fargo Bank, National Association, the trustee for each series of Old Notes (the 'Trustee'), but each Supplemental Indenture will not become operative until the Settlement Date. As of the Expiration Date, the Issuers had received the Requisite Consents with respect to each series of Old Notes and the Issuers executed a supplemental indenture to each applicable Indenture (each, a 'Supplemental Indenture'). The adoption of the Proposed Amendments with respect to each series of Old Notes requires the consent of the holders of at least a majority of the outstanding principal amount of each such series of Old Notes (with respect to each series of Old Notes, collectively, the 'Requisite Consents'). In conjunction with the Exchange Offers, the Issuers also solicited consents (collectively, the 'Consent Solicitations') to proposed amendments (the 'Proposed Amendments') from eligible holders of each series of Old Notes to the respective indentures governing the Old Notes, providing for, among other matters, the elimination of most of the restrictive covenants, certain of the affirmative covenants and certain of the events of default contained in each of the Old Notes (the 'Consents'). The Issuers expect to settle each Exchange Offer and Consent Solicitation on the Settlement Date. In addition to the applicable Total Consideration and Exchange Consideration (each as described in the table above), eligible holders whose Old Notes are exchanged in the Exchange Offers will receive accrued and unpaid interest, if any, in cash in respect of all of their exchanged Old Notes from the applicable last interest payment date to, but not including, the settlement date, which is currently expected to be J(the 'Settlement Date'). (1) Based on the aggregate principal amount outstanding tendered at 5:00 p.m., New York City time, on for the Old 6.000% 2023 Notes and the Old 6.000% 2025 Notes, and 11:59 p.m., New York City time, on Jfor the Old 5.375% 2023 Notes (respectively, the 'Early Tender Deadline'). $526.40 principal amount of New Unsecured Notes $344.44 principal amount of New Second Lien Notes $129.16 principal amount of New First Lien Notes $950.00 principal amount of New Unsecured Notes $456.86 principal amount of New Unsecured Notes $362.09 principal amount of New Second Lien Notes

$181.05 principal amount of New First Lien Notes $201.13 principal amount of New Second Lien Notes $567.76 principal amount of New First Lien Notes The table below also sets forth the Total Consideration and Exchange Consideration that holders of the Old Notes will receive.ĭollars per $1,000 Principal Amount of Notes The aggregate principal amount of each series of Old Notes that were validly tendered and not validly withdrawn as of 11:59 p.m., New York City time, on J(the 'Expiration Date'), as reported by the Exchange Agent and Information Agent, are specified in the table below. The complete terms and conditions of the Exchange Offers and Consent Solicitations, including the actual composition of the consideration each holder may receive, are more fully described in the Offering Memorandum and Consent Solicitation Statement, dated May 14, 2020, as supplemented on and J(as supplemented, the 'Offering Memorandum and Consent Solicitation Statement').

$2,507,848,000 aggregate principal amount of 6.000% Senior Notes due 2028 co-issued by Endo DAC, Endo Finance and Endo Finco (the 'New Unsecured Notes,' and collectively with the New First Lien Notes and the New Second Lien Notes, the 'New Notes'), and $947,220,000 aggregate principal amount of 9.500% Second Lien Senior Secured Notes due 2027 co–issued by Endo DAC, Endo Finance and Endo Finco (the 'New Second Lien Notes,' and together with the New First Lien Notes, the 'New Secured Notes'), $516,000,000 aggregate principal amount of 7.500% Senior Secured Notes due 2027 issued by PPI (the 'New First Lien Notes'),

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