Endo Inc

Ladies and gentlemen, thank you for standing by, and welcome to Mellon Cod's second quarter 2025 results conference call. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If anyone has any difficulties hearing the conference, please press star zero for operator assistance at any time. Please note, this event is being recorded. I will now try to call over to Gerard Muechner to cover forward-looking statements. Please go ahead.

Thank you, and welcome, everyone. Before we begin, let me remind you that we will make forward-looking statements on this call. And it's possible that actual results could be materially different from our stated expectations. Please note these forward-looking statements are made as of today, and we assume no obligation to update them. Even in the event of new information or if actual results or future expectations change materially, accept as required by law. We encourage you to refer to the cautionary statements contained in our SEC filings for a more in-depth explanation of the inherent limitations of such forward-looking statements. We will also provide select -GAAP-adjusted measures related to our financial performance on this call. A reconciliation of these non-GAAP measures is included in our earnings release, which can be found on our website, -endo.com. We use our website as a channel to distribute important and time-critical company information, and you should look to the investor relations page of -endo.com for this information. As noted in our earnings release, the second quarter for Legacy Malacart ended on June 27, 2025, and the second quarter for Legacy Endo ended on June 30, 2025. Additionally, unless otherwise specified for Legacy Malacart results, the net sales percentage changes we discussed will be on a constant currency basis. I'll now turn the call

over to Sigi. Thanks, Gerard, and good morning, everyone. Just last week, we completed the merger of Malacart and Endo, and we are very excited to be speaking with you for the first time as a combined company. Today, we will cover the financial results of each Legacy business for the second quarter of 2025, which ended a few weeks before completion of the merger. I'm joined by the Legacy CFOs of each business, Brian Reasons for Malacart, and Mark Bradley for Endo. They will walk you through the numbers and performance highlights from both standalone companies, and then I'll share our outlook for the combined company. Before we dive into the numbers, I'd like to start with an update on two subjects. Our merger and announcement this morning of our new president and CFO, Cristiana Stamoulis, as we announced this morning. As I mentioned, we were very pleased to announce the successful completion of the combination of Malacart and Endo on July 31st. When we first announced the merger in March, we saw an extraordinary opportunity to combine two highly complimentary pharmaceutical organizations, and our excitement about what Malacart and Endo can accomplish together has only grown since then. Over the past few months, we have had a team dedicated to developing a comprehensive integration plan and preparing for our future as one organization. Through these efforts, we have seen how well our teams work together and how closely our cultures align, and we are starting this new chapter ready to hit the ground running. I'd like to thank the employees and leaders from both companies for their extraordinary efforts. We are now focused on executing on our vision for the future of our combined company, and in that regard, I'm excited to announce that we have recruited Cristiana Stamoulis as our new president and CFO. Building a new organization requires not only bringing together the existing talent of both companies, but also bringing in a new talent with experiences and ideas different from our own. In that regard, we are really excited to have Cristiana on board. She is an exceptional talent with deep experience in biotech, finance, and strategy, and we are looking forward to the contributions she will make to forging our new future. The new Mullencroft combines two organizations with rich legacies of innovation committed to accelerating the value creation we can deliver to our stakeholders. Our specialty brands portfolio spans a wide range of therapeutic areas of significant unmet need and with durable on-market products, we are well positioned for growth. We also have a strong balance sheet and meaningful financial flexibility to invest in innovation and business development. Our combined generics and sterile injectables business, which operates under the power health name features a broad product portfolio. Our leading controlled substance is franchised and best in class capabilities across the value chain. With financing secured for the merger, and I should acknowledge the effort of our financing bankers led by Avercore, we are all well positioned to move forward with our planned spin-off in the fourth quarter of 2025. Subject to our board's approval and all the conditions. We are moving forward with urgency and energy to unlock our full potential as a larger and more diversified company. And while we are in early days of executing our integration plans, we remain on track to achieve our seniority targets of generating at least $150 million of annual pre-tax run rate operating synodies by year three and approximately $75 million of pre-tax run rate synodies in the first 12 months post-merger. Before turning over the call, I want to emphasize that the strong financial results we are sharing today only reinforce my confidence in this combination. And what we can achieve as one organization. On that note, I'll flip the call over to Mark, who will discuss the legacy Endos financial reserves for the second quarter.