Deutsche Bank Securities Inc Figure 13: Relative Valuation - Pharmaceuticals Ce < < <- a> Bad Deer10195 Cape BS®, 11110~119 ®05 aim 111900/3 11111 Bda err menus ~pm 1113D851 1.19DA NERDS c E 7. "g Pheiliatalt106141 a N 0 g o m n Antai Phantasascril ~AG/ =375% Sanior Naas 0101/23 5600 BO B2 97200 8413% 612 0601023 5242 2.0X 434 Concorde Haelthcar•ICXRCN/ 9=0% la ~Bonds 0401/22 1360 642 CCO 35.750 13.46% 1328 0401/22 5328 332 10.1x Coraorciie Naltlicer• MCA0113 9230% Senior Nan 109222 1720 C D 10.260 10040% 10.764 10421/72 0926 10.24 10.1x Cortex® Harifficaa 1005CN/ 7000% Senior Net« 01/16,23 1736 C D 5200 1117% 6.760 04/10/23 1225 10.0x 10.1s a^' Endo Phanteatalals IENDPI 5275% 1st Lan8oras 121624 1300 82 BB 101.00 548% 330 041522 $1.777 1® 8.72 Endo IrlanneariAleas 15/4091 7280% Senor Notes 0=622 3396 83 COG 97230 1121% 903 013522 31277 42€ 8® Endo Plarrateutitals IENDet 5.750% Senor Notes 01/1622 $700 1113 COG 134.010 10.043% 951 01/1522 31.777 4® 8.34 Cr En® Phantacalitals IENDirt 5375% Senior Noin 01/1523 3750 B3 COG 76.375 11.01% 674 014621 $1.777 4.24 6.24 Endo Plarnwarlitas IENCIP/ 5000% Senior Nan 061623 31.036 03 CCC+ 75200 11.33% 1103 07/1623 11.777 4.72 8.24 En® Pharracsullials IENDF1 6000% Senior Notes 020125 31.3)0 03 CCO4 76.000 10.42% 931 0201/25 $1.777 44® 15.72 Mons® Pharmateutieals 0436121 64326% Senior Notes 0601/23 1476 03 B. 99.600 0.74% 446 0501/23 $424 3.02 86* te. Mont= Mar maeralials 04361111 8.7602 Senior Notes 11,01/24 1300 03 B. 106.875 7.31% 506 11,01/22 NU 3.02 111•11acKieSt (MNK) 42715% Senior Noin 043620 1700 81 0B. 96.750 610% 446 0416/20 51,438 1.1x 6.4x 111•114)0622 (MNK) 9.500% Sonar Notts 020122 $10 WA NA 122665 3.438% 1417 0120122 $1.436 1.1x 5.4* 1.1411inoKrocit (MNK) 5.760% Senior Noin 0501/22 1884 01 82 92.000