RECORDATI

PRELIMINARY 2019 RESULTS CONFIRM CONTINUED GROWTH OF SALES AND PROFITS. SALES +9.6%. EBITDA +9.0% - Seite 2

⁽²⁾ Cash and short-term financial investments less bank overdrafts and medium/long-term loans which include the measurement at fair value of hedging derivatives.

Management Comments

“During the year just ended significant results were obtained and important transactions concluded for the growth and the reinforcement of our group” declared Andrea Recordati, Chief Executive Officer. “Thanks to the quality of our product portfolio we grow in all the main geographic areas both with our Specialty and Primary Care business as well as with our business dedicated to rare diseases. To further reinforce the Group, the most significant transaction is the agreement with Novartis for the acquisition of worldwide rights to Signifor and Signifor LAR for the treatment of Cushing’s disease and acromegaly. The agreement, which was completed in October, also covers the acquisition of worldwide rights to Isturisa (osilodrostat), an investigational innovative drug for the treatment of endogenous Cushing’s syndrome, approved by the European Commission in January 2020 and filed in the USA. These important additions to our product portfolio of treatments for severe rare diseases represent a fundamental step in the execution of our strategy to become a true global player in the treatment of rare diseases and to continue providing innovative therapeutic solutions for patients with rare serious conditions and unmet medical needs,” continued Andrea Recordati. “We are very pleased with the success and excellent results obtained in 2019. Going forward we will continue to develop the business, both organically as well as through a focused acquisition strategy, with the objective of strengthening our product portfolio and further reinforcing our pipeline, especially in the rare disease business segment. 2020 is going to be an important year of investment behind these new opportunities and of continued growth, in which we aim to achieve sales ranging from € 1,550 million to € 1,580 million, EBITDA of between € 580 and € 590 million, EBIT of between € 490 and € 500 million and net income of between € 360 and € 370 million.”

Declaration by the Manager responsible for preparing the company’s financial reports

The manager responsible for preparing the company’s financial reports, Fritz Squindo, declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.