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8% Alliance group sales in 2017 Nizoral will enhance Alliance’s APAC distributor footprint Potential distribution nizoral fungus nizoral shampoo available stores nizoral cream 2 percent nizoral foam nizoral canada synergies for Vamousse (head lice treatment) Limited operational management overlap with Diclectin launch in UK / EU Balanced asset acquisition risk: Registered across 15 main regional markets Good growth potential: Brand deprioritised by J&J with little investment in recent years APAC is a dynamic and flourishing economy Potential to increase sales & market share through: Enhanced communication to HCPs & consumers + distributor engagement Geographical expansion within APAC e . Increase in resource to manage acquired business Strong nizoral and proven Alliance APAC management: growing existing Alliance business at >40% moving annual total growth; APAC represented 10 .
nizoral Pakistan New SKUs e . g Shampoo launch in Japan Note: * Proforma EBITDA is EBITDA adjusted to reflect future costs under the TSA/MSA Investor Presentation June 2018 Alliance current APAC distributor footprint Alliance existing distributor footprint Alliance existing APAC sales: £11m (2017) APAC sales 2017: split by territory APAC sales 2017: split by brand FLAMMA FRANCHISE Examples of existing regional partners: Menarini, Conbio, Investor Presentation June 2018 Nizoral enhances Alliance APAC distributor footprint Alliance existing distributor footprint Distributor footprint synergy - existing Alliance + Nizoral Incremental distributor footprint - enhanced with Nizoral Alliance + Nizoral combined APAC sales 2017: £30m Currency conversion rate 13th nizoral shampoo retailers nizoral dandruff shampoo nizoral shampoo retailers nizoral shampoo uk May 2018: 1 USD = 0 . 750898 GBP Investor Presentation June 2018 Existing Nizoral distributor network J&J operate the business mostly through distributors in APAC nizoral for Nizoral, e .


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