1. – STRICTLY CONFIDENTIAL – Corporate Presentation October 2014 V6.0 August 20141

2. – STRICTLY CONFIDENTIAL – Outline V6.0 August 2014 2 About Menarini GroupMenarini Asia-PacificPartnering as a Model for SuccessOur Advantage

3. – STRICTLY CONFIDENTIAL – About Menarini Group Overview of Menarini Group R&D and Manufacturing Established Partnership Record V6.0 August 20143

4. – STRICTLY CONFIDENTIAL – Overview of Menarini Group Founded in 1886 Privately owned, headquartered in Florence, Italy Ranks 17 th out of 5,291 companies in Europe and 37 th out of 19,042 companies worldwide Pharmaceuticals, Biotech, and Medical Diagnostics 6 R&D centers and 14 manufacturing plants 2013 turnover > USD4.2 billion with over 16,000 employees V6.0 August 2014 4 Number 1 Italian biopharmaceutical company

5. – STRICTLY CONFIDENTIAL – Menarini is present in more than 100 countries overall, through affiliates, distributors or licenses. Sales & Marketing Presence V6.0 August 2014 5

6. – STRICTLY CONFIDENTIAL – Manufacturing and R&D in Europe V6.0 August 2014 6 R&D expertise in both small molecule and biological therapeutics Significant manufacturing presence across Europe Shannon Dresden L’Aquila Kaluga Istanbul Berlin Milan Pisa Barcelona Legend Manufacturing Manufacturing and R&D Centres v v v v v v v v v v v v v v v v v v v v v v

7. – STRICTLY CONFIDENTIAL – Established Partnership Record V6.0 August 2014 7

8. – STRICTLY CONFIDENTIAL – About Menarini Asia-Pacific Overview of Menarini Asia-Pacific Key Therapeutic Areas Management Team V6.0 August 20148

9. – STRICTLY CONFIDENTIAL – Overview of Menarini Asia-Pacific Broad geographic coverage with over 3,000 employees across 13 markets in Asia-Pacific (ex-Japan) Established Regulatory, Medical Marketing and Sales infrastructure with execution success Diverse portfolio of proprietary and partnered brands in a wide range of therapeutic areas Strong partner relationships with global and mid-size biopharma Seasoned international Management Team V6.0 August 2014 9 A leading biopharmaceutical company specialized in commercialising differentiated healthcare brands across the Asia-Pacific region

10. – STRICTLY CONFIDENTIAL – Key Therapeutic Areas V6.0 August 2014 10 Dermatology Consumer Health Select Specialty Care Men’s Health Cardiovascular Allergy / Respiratory

11. – STRICTLY CONFIDENTIAL – Management Committee V6.0 August 2014 11 John A. Graham Chief Executive Officer Sumeet Sud Chief Marketing Officer Christopher Tay Chief Administrative Officer Anne Bell Chief Financial Officer Brian Forrester Vice President, Consumer Health Seah Eng Seng Vice President, Medical & Regulatory Craig Kelly GM, Australia Mark Brown Vice President, ASEAN, Taiwan and Hong Kong Albert Kim GM, Korea Germano D’Amore Regional Director, Sales Force Effectiveness Brett Hayes Managing Director, China Ninia Torres GM, Philippines Reinhard Ehrenberger Managing Director, Indonesia Girdhar Balwani GM, India

12. – STRICTLY CONFIDENTIAL – Partnering as a Model for Success Core Competencies Featured Proprietary Brands Key Partnerships Development V6.0 August 201412

13. – STRICTLY CONFIDENTIAL – Core Competencies V6.0 August 2014 13 Regulatory Regulatory Strategy Regulatory Intelligence Over 60 Regional and Local Professionals within Asia- Pacific Extensive Experience with 466 Drug (202 new drug), 244 Cosmetics and 128 medical device applications throughout the region from 2009 to 2013. Medical Broad Therapeutic Area Medical Expertise Evidence Based Medical Marketing ICH-GCP compliant Clinical Operations Pharmacovigilance Promotional Compliance Quality Assurance Commercialization Corporate Marketing Market Intelligence Marketing Planning and Launch Readiness Alliance Management 2,300+ sales force Supply Chain / Logistics

14. – STRICTLY CONFIDENTIAL – Featured Proprietary Brands DermatologyConsumer Health Selected Specialty V6.0 August 2014 14 CardiovascularMen’s HealthAllergy / Respiratory

15. – STRICTLY CONFIDENTIAL – 2005Apr 2010 Dec 2010 Mar 2012 Apr 2012 Jan 2011 Jan 2012 May 2012 Aug 2012 Key Partnerships Development Dec 2012 July 2013 Apr 2013 Jul 2010 V6.0 August 2014 15 Jun 2013

16. – STRICTLY CONFIDENTIAL – Partnering in Dermatology Single Partner Solution for Dermatological Products across Asia-Pacific V6.0 August 2014 16 Sinclair Pharmaceuticals is a French multinational specialty pharma company focused on the commercialization of Dermatology and Oral Care products Announced in 4Q 2010 Long-term strategic partnership: commercial partner in the Asia-Pacific region for their entire Dermatology portfolio of 40 products Pan-Asian deal covering Australia, India, Indonesia, Singapore, Taiwan, Thailand, Hong Kong SAR, China, South Korea, Vietnam, Philippines & Malaysia Having worked with multiple regional partners in the past, Sinclair was keen to work with a single regional partner with the capability to commercialise their products across the entire region

17. – STRICTLY CONFIDENTIAL – Our Advantage Unique Value Proposition V6.0 August 201417

18. – STRICTLY CONFIDENTIAL – A Unique Value Proposition V6.0 August 2014 18 Gateway to Asia-Pacific (one stop solution)Strong Sales, Marketing and Regulatory FootprintFlexible Business ModelBroad Therapeutic ExpertiseFull suite of capabilities from R&D through Sales

19. – STRICTLY CONFIDENTIAL – Contact V6.0 August 2014 19 Navin Swaroop VP Corporate Development and Alliance Management T: +65 6307 7029 M: +65 9722 6724 Navin.Swaroop@menariniapac.com