# EDGAR Filing Document

**Accession Number:** 0001012477
**File Stem:** 0001104659-26-013880
**Filing Date:** 2026-2
**Character Count:** 229094
**Document Hash:** 4a716fbdcb7e45fe295ff4d96e30f89f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-013880.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0001104659-26-013880

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260212

**ITEM INFORMATION**: Termination of a Material Definitive Agreement

**ITEM INFORMATION**: Completion of Acquisition or Disposition of Assets

**ITEM INFORMATION**: Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

**ITEM INFORMATION**: Material Modifications to Rights of Security Holders

**ITEM INFORMATION**: Changes in Control of Registrant

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AVADEL PHARMACEUTICALS PLC
- **CENTRAL INDEX KEY:** 0001012477
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37977
- **FILM NUMBER:** 26623447

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 10 EARLSFORT TERRACE
- **CITY:** DUBLIN 2
- **PROVINCE COUNTRY:** L2
- **ZIP:** D02 T380
- **BUSINESS PHONE:** 636-449-1830

**MAIL ADDRESS:**
- **STREET 1:** 16640 CHESTERFIELD GROVE ROAD
- **STREET 2:** SUITE 200
- **CITY:** CHESTERFIELD
- **STATE:** MO
- **ZIP:** 63005

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FLAMEL TECHNOLOGIES SA
- **DATE OF NAME CHANGE:** 19960422

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or Section 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported)**: February 12, 2026

**AVADEL PHARMACEUTICALS PLC**

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Ireland** | &nbsp;&nbsp;**001-37977** | &nbsp;&nbsp;**98-1341933** |
| &nbsp;&nbsp;(State or other jurisdiction | &nbsp;&nbsp;(Commission | &nbsp;&nbsp;(IRS Employer |
| &nbsp;&nbsp;of incorporation) | &nbsp;&nbsp;File Number) | &nbsp;&nbsp;Identification No.) |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**10 Earlsfort Terrace**<br> **Dublin 2**, **Ireland, D02 T380** | &nbsp;&nbsp;<br> **Not Applicable** |
| &nbsp;&nbsp;(Address of principal executive offices) | &nbsp;&nbsp;(Zip Code) |

---

**Registrant's telephone number, including area code**: **+353 1 901 5201**

**Not Applicable**

(Former name or former address, if changed since last report)

------

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which<br> registered |
| Ordinary Shares, nominal value $0.01 per share | AVDL | The Nasdaq Global Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

---

| | |
|:---|:---|
| **Item 1.02** | **Termination of a Material Definitive Agreement.** |

---

Effective as of February 12, 2026, in connection with the Acquisition (as defined below), Avadel Pharmaceuticals plc ("Avadel" or the "Company") exercised its right to terminate the Open Market Sale Agreement<sup>SM</sup> , dated May 8, 2024, by and between Avadel and Jefferies LLC, with respect to an "at-the-market" offering program under which the Company could sell, from time to time, its ordinary shares.

On February 12, 2026, in connection with the Acquisition, Avadel exercised its option to prepay RTW Royalty II DAC ("RTW") approximately $60,246,950 to terminate existing royalty payments and obligations pursuant to the Purchase and Sale Agreement, dated March 29, 2023, by and between Avadel, Avadel CNS Pharmaceuticals, LLC and RTW (the "Royalty Purchase Agreement"). The Royalty Purchase Agreement will automatically terminate upon receipt of such payments.

---

| | |
|:---|:---|
| **Item 2.01** | **Completion of Acquisition or Disposition of Assets.** |

---

On February 12, 2026, Avadel and Alkermes plc ("Alkermes"), completed the transactions contemplated by the previously announced Transaction Agreement (the "Original Transaction Agreement") dated October 22, 2025, as amended by Amendment No. 1 to the Transaction Agreement (the "Amendment") dated November 18, 2025, by and between Avadel and Alkermes (as amended, the "Transaction Agreement"). Pursuant to a court-sanctioned scheme of arrangement under Chapter 1 of Part 9 of the Irish Companies Act 2014 (the "Scheme"), Alkermes acquired the entire issued and outstanding ordinary share capital of Avadel (the "Acquisition") and Avadel became a wholly owned subsidiary of Alkermes. Capitalized terms used herein but not otherwise defined herein shall have the meanings assigned to them in the Transaction Agreement.

The Acquisition was conditioned on, among other things, the sanction of the Scheme by the High Court of Ireland (the "High Court") and the delivery of the order of the High Court sanctioning the Scheme (the "Court Order") to the Registrar of Companies in Dublin, Ireland. On February 10, 2026, the High Court sanctioned the Scheme. On February 12, 2026, the Court Order was delivered to the Registrar of Companies, at which time the Scheme became effective (the "Effective Time").

At the Effective Time, Alkermes acquired all of the issued and outstanding ordinary shares of Avadel, nominal value $0.01 per share (the "Avadel Shares"), other than Avadel Shares held by Alkermes or any of its concert parties (if any), and each holder of Avadel Shares outstanding as of 11:59 p.m., New York City time, on February 11, 2026, the business day prior to the occurrence of the Effective Time, became entitled to receive (i) $21.00 in cash (the "Cash Consideration") for each Avadel Share and (ii) one non-transferable contingent value right (a "CVR") for each Avadel Share, in each case in accordance with the terms of the Scheme and the Contingent Value Rights Agreement entered into at or prior to the Effective Time (the "CVR Agreement"), substantially in the form attached as Exhibit A to the Original Transaction Agreement ((i) and (ii) together, the "Total Consideration"). Each CVR represents a contractual right to receive a potential additional cash payment of $1.50 per Avadel Share upon the achievement of the milestone set forth in the CVR Agreement prior to the milestone expiration set forth in the CVR Agreement, subject to the terms and conditions thereof.

Pursuant to the Transaction Agreement, at the Effective Time:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) each option to purchase Avadel Shares granted under any Avadel equity incentive plan, program or arrangement under which equity awards
were outstanding (the "Avadel Share Plans") (each, an "Avadel Option") having an exercise price less than the
Cash Consideration (each such option, an "Avadel Cash-Out Option") that was outstanding immediately prior to the Effective
Time, whether or not vested, was cancelled and converted into the right to receive (without interest), in consideration of the cancellation
of such Avadel Cash-Out Option, (A) an amount in cash (less applicable tax and any other mandatory withholdings), equal to the product
of (x) the total number of Avadel Shares subject to such Avadel Cash-Out Option immediately prior to the Effective Time multiplied
by (y) the excess of the Cash Consideration over the applicable exercise price per Avadel Share under such Avadel Cash-Out Option,
and (B) one (1) CVR for each Avadel Share subject to such Avadel Cash-Out Option immediately prior to the Effective Time (without
regard to vesting);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) each Avadel Option that is not an Avadel Cash-Out Option and any Avadel Option with an exercise price equal to or greater than the
Cash Consideration that was outstanding immediately prior to the Effective Time, whether or not vested, was cancelled for no consideration;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) each award of restricted share units representing the right to receive one or more Avadel Shares or the cash value thereof upon vesting
and settlement whether granted pursuant to the Company Share Plans or otherwise (each, an "Avadel RSU Award") that was outstanding
was cancelled and, in exchange therefor, the holder of such cancelled Avadel RSU Award was entitled to receive (without interest), in
consideration of the cancellation of such Avadel RSU Award, (A) an amount in cash (less applicable tax or any other mandatory withholdings)
equal to the product of (x) the total number of Avadel Shares subject to such Avadel RSU Award immediately prior to the Effective
Time multiplied by (y) the Cash Consideration and (B) one (1) CVR for each Avadel Share subject to such Avadel RSU Award
immediately prior to the Effective Time (without regard to vesting); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) each award of Avadel Shares subject to vesting restrictions or forfeiture back to Avadel (each, an "Avadel Restricted Stock
Award"), whether granted pursuant to the Avadel Share Plans or otherwise that was outstanding immediately prior to the Effective
Time vested in full as of immediately prior to the Effective Time and was treated in the same manner as all other Avadel Shares.

The foregoing descriptions of the Original Transaction Agreement, the Amendment, and Appendix III to the Rule 2.7 Announcement (the "Conditions Appendix") do not purport to be complete and are subject to, and qualified in their entireties by, the full text of the Original Transaction Agreement, the Amendment and the Conditions Appendix, which are incorporated by reference as Exhibits 2.1, 2.2 and 2.3 to this Current Report on Form 8-K and incorporated by reference into this Item 2.01. References to the Transaction Agreement or Original Transaction Agreement from and after the entry into the Amendment on November 18, 2025 refer to the Original Transaction Agreement as amended by the Amendment.

---

| | |
|:---|:---|
| **Item 3.01** | **Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.** |

---

In connection with the completion of the Acquisition, Avadel requested that the Nasdaq Global Market ("Nasdaq") (a) halt trading of the Avadel Shares effective as of 7:50 p.m. New York City time on February 11, 2026 and (b) file with the Securities and Exchange Commission (the "SEC") a Notification of Removal from Listing and/or Registration under Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on Form 25 to delist the Avadel Shares. Upon effectiveness of such Form 25, Alkermes and Avadel intend to file with the SEC a Certification and Notice of Termination of Registration on Form 15 under the Exchange Act, requesting that the Avadel Shares be deregistered and that Avadel's reporting obligations under Sections 13 and 15(d) of the Exchange Act be suspended with respect to the Avadel Shares.

---

| | |
|:---|:---|
| **Item 3.03** | **Material Modification to Rights of Security Holders.** |

---

At the Effective Time, each holder of Avadel Shares outstanding immediately prior to the Effective Time ceased to have any rights as a shareholder of Avadel other than the right to receive the Total Consideration.

The information set forth in Items 2.01, 3.01, 5.01 and 5.03 is incorporated by reference into this Item 3.03.

---

| | |
|:---|:---|
| **Item 5.01** | **Changes in Control of Registrant.** |

---

As a result of the Scheme, a change in control of Avadel occurred, and Avadel became a wholly owned subsidiary of Alkermes.

The information set forth in Items 2.01, 3.01, 3.03, 5.02 and 5.03 is incorporated by reference into this Item 5.01.

---

| | |
|:---|:---|
| **Item 5.02** | **Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.** |

---

The information set forth in Item 2.01 is incorporated by reference into this Item 5.02.

In connection with the Acquisition and as of the Effective Time, Gregory J. Divis (Chief Executive Officer), Thomas S. McHugh (Chief Financial Officer), Susan Rodriguez (Chief Operating Officer) and Jerad G. Seurer (General Counsel and Corporate Secretary) ceased to serve in their capacities as executive officers of Avadel.

Additionally, as of the Effective Time, each of Geoffrey M. Glass, Gregory J. Divis, Dr. Eric J. Ende, Dr. Mark A. McCamish, Linda S. Palczuk, Peter J. Thornton and Dr. Naseem S. Amin ceased serving as a member of the board of directors of Avadel and each committee thereof on which such director served.

---

| | |
|:---|:---|
| **Item 5.03** | **Amendments to Articles of Incorporation or Bylaws; Change of Fiscal Year.** |

---

Pursuant to the Transaction Agreement and following the approval of the Avadel Shareholders at the EGM convened in connection with the Scheme, effective as of the Effective Time, the Memorandum and Articles of Association of the Company were amended. A copy of the amended Memorandum and Articles of Association of the Company is filed as Exhibit 3.1 to this Current Report on Form 8-K and incorporated herein by reference.

---

| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.** |

---

On February 12, 2026, the Company and Alkermes issued a joint press release announcing the successful completion of the Acquisition. A copy of the press release is furnished herewith as Exhibit 99.1 and incorporated by reference into this Item 7.01.

The information in this Item 7.01, and in Exhibit 99.1 furnished herewith, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |

---

(d) Exhibits

---

| | |
|:---|:---|
| **Exhibits** | **Description** |
| [2.1\*](https://www.sec.gov/Archives/edgar/data/1012477/000110465925101430/tm2529228d2_ex2-1.htm) | [Transaction Agreement, dated as of October 22, 2025, by and between Alkermes plc and Avadel Pharmaceuticals plc (incorporated by reference to Exhibit 2.1 to the Current Report on Form 8-K filed by the Company with the SEC on October 22, 2025).\*](https://www.sec.gov/Archives/edgar/data/1012477/000110465925101430/tm2529228d2_ex2-1.htm) |
| [2.2](https://www.sec.gov/Archives/edgar/data/1012477/000110465925113886/tm2529228d13_ex2-2.htm) | [Amendment No. 1 to the Transaction Agreement, dated as of November 18, 2025, by and between Alkermes plc and Avadel Pharmaceuticals plc (incorporated by reference to Exhibit 2.2 to the Current Report on Form 8-K filed by the Company with the SEC on November 19, 2025).](https://www.sec.gov/Archives/edgar/data/1012477/000110465925113886/tm2529228d13_ex2-2.htm) |
| [2.3](https://www.sec.gov/Archives/edgar/data/1012477/000110465925101430/tm2529228d2_ex2-2.htm) | [Appendix III to the Rule 2.7 Announcement, dated as of October 22, 2025 (Conditions Appendix) (incorporated by reference to Exhibit 2.2 to the Current Report on Form 8-K filed by the Company with the SEC on October 22, 2025).](https://www.sec.gov/Archives/edgar/data/1012477/000110465925101430/tm2529228d2_ex2-2.htm) |
| [3.1](tm265930d1_ex3-1.htm) | [Amended Memorandum and Articles of Association of Avadel Pharmaceuticals plc, effective as of February 12, 2026.](tm265930d1_ex3-1.htm) |
| [99.1](tm265930d1_ex99-1.htm) | [Press release issued by Alkermes plc and Avadel Pharmaceuticals plc on February 12, 2026.](tm265930d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

\* Certain schedules have been omitted pursuant to Item 601(a)(5) of Regulation S-K. The registrant agrees to furnish supplementally a copy of any omitted schedule or exhibit to the SEC upon request.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| Date: February 12, 2026 | **AVADEL PHARMACEUTICALS PLC** | **AVADEL PHARMACEUTICALS PLC** | **AVADEL PHARMACEUTICALS PLC** |
|  | By: | /s/ Declan O'Connor | /s/ Declan O'Connor |
|  |  | Name: | Declan O'Connor |
|  |  | Title: | Director |

---

## Exhibit 3.1

**Exhibit 3.1**

**Companies Act 2014**

**A PUBLIC COMPANY LIMITED BY SHARES**

**CONSTITUTION**

**of**

**AVADEL PHARMACEUTICALS PUBLIC LIMITED COMPANY**

**Incorporated on 1 December 2015**

**Companies Act 2014**

**A PUBLIC COMPANY LIMITED BY SHARES**

**CONSTITUTION**

**of**

**AVADEL PHARMACEUTICALS PUBLIC LIMITED COMPANY**

**MEMORANDUM OF ASSOCIATION**

**(Amended and restated by special resolution dated 20 December 2016)**

1. The name of the Company is Avadel Pharmaceuticals public limited company.

2. The Company is to be a public limited company for the purposes of Part 17 of the Companies Act 2014.

3. The objects for which the Company is established are:

3.1 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) To carry on the business of a pharmaceuticals company, and to research, develop, design, manufacture,
produce, supply, buy, sell, distribute, import, export, provide, promote and otherwise deal in pharmaceuticals, active pharmaceutical
ingredients and dosage pharmaceuticals and other devices or products of a pharmaceutical or healthcare character and to hold intellectual
property rights and to do all things usually dealt in by persons carrying on the above mentioned businesses or any of them or likely to
be required in connection with any of the said businesses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To carry on the business of a holding company and to co-ordinate the administration, finances and activities
of any subsidiary companies or associated companies, to do all lawful acts and things whatever that are necessary or convenient in carrying
on the business of such a holding company and in particular to carry on the business of a management services company, to act as managers
and to direct or coordinate the management of other companies or of the business, property and estates of any company or person and to
undertake and carry out all such services in connection therewith as may be deemed expedient by the Company's board of directors
and to exercise its powers as a shareholder of other companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.2 To acquire shares, stocks, debentures, debenture stock, bonds, obligations and securities by original
subscription, tender, purchase, exchange or otherwise and to subscribe for the same either conditionally or otherwise, and to guarantee
the subscription thereof and to exercise and enforce all rights and powers conferred by or incidental to the ownership thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.3 To facilitate and encourage the creation, issue or conversion of and to offer for public subscription
debentures, debenture stocks, bonds, obligations, shares, stocks, and securities and to act as trustees in connection with any such securities
and to take part in the conversion of business concerns and undertakings into companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.4 To purchase or by any other means acquire any freehold, leasehold or other property and in particular
lands, tenements and hereditaments of any tenure, whether subject or not to any charges or encumbrances, for any estate or interest whatever,
and any rights, privileges or easements over or in respect of any property, and any buildings, factories, mills, works, wharves, roads,
machinery, engines, plant, live and dead stock, barges, vessels or things, and any real or personal property or rights whatsoever which
may be necessary for, or may conveniently be used with, or may enhance the value or property of the Company, and to hold or to sell, let,
alienate, mortgage, charge or otherwise deal with all or any such freehold, leasehold, or other property, lands, tenements or hereditaments,
rights, privileges or easements.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 To sell or otherwise dispose of any of the property or investments of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.6 To establish and contribute to any scheme for the purchase of shares in the Company to be held for the
benefit of the Company's employees and to lend or otherwise provide money to such schemes or the Company's employees or the
employees of any of its subsidiary or associated companies to enable them to purchase shares of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.7 To grant, convey, transfer or otherwise dispose of any property or asset of the Company of whatever nature
or tenure for such price, consideration, sum or other return whether equal to or less than the market value thereof and whether by way
of gift or otherwise as the Directors shall deem fit and to grant any fee, farm grant or lease or to enter into any agreement for letting
or hire of any such property or asset for a rent or return equal to or less than the market or rack rent therefor or at no rent and subject
to or free from covenants and restrictions as the Directors shall deem appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.8 To acquire and undertake the whole or any part of the business, good-will and assets of any person, firm
or company carrying on or proposing to carry on any of the businesses which this Company is authorised to carry on, and as part of the
consideration for such acquisition to undertake all or any of the liabilities of such person, firm or company, or to acquire an interest
in, amalgamate with, or enter into any arrangement for sharing profits, or for co-operation, or for limiting competition or for mutual
assistance with any such person, firm or company and to give or accept by way of consideration for any of the acts or things aforesaid
or property acquired, any shares, debentures, debenture stock or securities that may be agreed upon, and to hold and retain or sell, mortgage
or deal with any shares, debentures, debenture stock or securities so received.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.9 To apply for, register, purchase, lease, hold, use, control, licence or otherwise acquire any patents,
brevets d'invention, copyrights, trademarks, licences, concessions and the like conferring any exclusive or non-exclusive or limited
rights to use or any secret or other information as to any invention which may seem capable of being used for any of the purposes of the
Company or the acquisition of which may seem calculated directly or indirectly to benefit the Company, and to use, exercise, develop or
grant licences in respect of or otherwise turn to account the property, rights or information so acquired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.10 To enter into partnership or into any arrangement for sharing profits, union of interests, co-operation,
joint venture, reciprocal concession or otherwise with any person or company carrying on or engaged in or about to carry on or engage
in any business or transaction which the Company is authorised to carry on or engage in or any business or transaction capable of being
conducted so as directly to benefit this Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.11 To invest and deal with the moneys of the Company not immediately required upon such securities and in
such manner as may from time to time be determined.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.12 To lend money to and guarantee the performance of the contracts or obligations of any company, firm or
person, and the repayment of the capital and principal of, and dividends, interest or premiums payable on, any stock, shares and securities
of any company, whether having objects similar to those of this Company or not, and to give all kinds of indemnities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.13 To engage in currency exchange and interest rate transactions including, but not limited to, dealings
in foreign currency, spot and forward rate exchange contracts, futures, options, forward rate agreements, swaps, caps, floors, collars
and any other foreign exchange or interest rate hedging arrangements and such other instruments as are similar to, or derived from, any
of the foregoing whether for the purpose of making a profit or avoiding a loss or managing a currency or interest rate exposure or any
other exposure or for any other purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.14 To guarantee, support or secure, whether by personal covenant or by mortgaging or charging all or any
part of the undertaking, property and assets (both present and future) and uncalled capital of the Company, or by both such methods, the
performance of the obligations of, and the repayment or payment of the principal amounts of and premiums, interest and dividends on any
securities of, any person, firm or company including (without prejudice to the generality of the foregoing) any company which is for the
time being the Company's holding company as defined by the Companies Act 2014 or a subsidiary as therein defined of any such holding
company or otherwise associated with the Company in business.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.15 To borrow or secure the payment of money in such manner as the Company shall think fit, and in particular
by the issue of debentures, debenture stocks, bonds, obligations and securities of all kinds, either perpetual or terminable and either
redeemable or otherwise and to secure the repayment of any money borrowed, raised or owing by trust deed, mortgage, charge, or lien upon
the whole or any part of the Company's property or assets (whether present or future) including its uncalled capital, and also by
a similar trust deed, mortgage, charge or lien to secure and guarantee the performance by the Company of any obligation or liability it
may undertake.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.16 To draw, make, accept, endorse, discount, execute, negotiate and issue promissory notes, bills of exchange,
bills of lading, warrants, debentures and other negotiable or transferable instruments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.17 To subscribe for, take, purchase or otherwise acquire and hold shares or other interests in, or securities
of any other company having objects altogether or in part similar to those of this Company, or carrying on any business capable of being
conducted so as directly or indirectly to benefit this Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.18 To hold in trust as trustees or as nominees and to deal with, manage and turn to account, any real or
personal property of any kind, and in particular shares, stocks, debentures, securities, policies, book debts, claims and chases in actions,
lands, buildings, hereditaments, business concerns and undertakings, mortgages, charges, annuities, patents, licences, and any interest
in real or personal property, and any claims against such property or against any person or company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.19 To constitute any trusts with a view to the issue of preferred and deferred or other special stocks or
securities based on or representing any shares, stocks and other assets specifically appropriated for the purpose of any such trust and
to settle and regulate and if thought fit to undertake and execute any such trusts and to issue, dispose of or hold any such preferred,
deferred or other special stocks or securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.20 To give any guarantee in relation to the payment of any debentures, debenture stock, bonds, obligations
or securities and to guarantee the payment of interest thereon or of dividends on any stocks or shares of any company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.21 To construct, erect and maintain buildings, houses, flats, shops and all other works, erections, and things
of any description whatsoever either upon the lands acquired by the Company or upon other lands and to hold, retain as investments or
to sell, let, alienate, mortgage, charge or deal with all or any of the same and generally to alter, develop and improve the lands and
other property of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.22 To provide for the welfare of persons in the employment of or holding office under or formerly in the
employment of or holding office under the Company including Directors and ex-Directors of the Company or any of its subsidiary or associated
companies and the spouses, civil partners, widows, widowers, families, dependants or connections of such persons by grants of money, pensions
or other payments and by forming and contributing to pension, provident or benefit funds or profit sharing or co-partnership schemes for
the benefit of such persons and to form, subscribe to or otherwise aid charitable, benevolent, religious, scientific, national or other
institutions, exhibitions or objects which shall have any moral or other claims to support or aid by the Company by reason of the locality
of its operation or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.23 To remunerate by cash payments or allotment of shares or securities of the Company credited as fully paid
up or otherwise any person or company for services rendered or to be rendered to the Company whether in the conduct or management of its
business, or in placing or assisting to place or guaranteeing the placing of any of the shares of the Company's capital, or any
debentures or other securities of the Company or in or about the formation or promotion of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.24 To enter into and carry into effect any arrangement for joint working in business or for sharing of profits
or for amalgamation with any other company or association or any partnership or person carrying on any business within the objects of
the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.25 To distribute in specie or otherwise as may be resolved, any assets of the Company among its members and
in particular the shares, debentures or other securities of any other company belonging to this Company or of which this Company may have
the power of disposing.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.26 To vest any real or personal property, rights or interest acquired or belonging to the Company in any
person or company on behalf of or for the benefit of the Company, and with or without any declared trust in favour of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.27 To transact or carry on any business which may seem to be capable of being conveniently carried on in
connection with any of these objects or calculated directly or indirectly to enhance the value of or facilitate the realisation of or
render profitable any of the Company's property or rights.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.28 To accept stock or shares in or debentures, mortgages or securities of any other company in payment or
part payment for any services rendered or for any sale made to or debt owing from any such company, whether such shares shall be wholly
or partly paid up.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.29 To pay all costs, charges and expenses incurred or sustained in or about the promotion and establishment
of the Company or which the Company shall consider to be preliminary thereto and to issue shares as fully or in part paid up, and to pay
out of the funds of the Company all brokerage and charges incidental thereto.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.30 To procure the Company to be registered or recognised in any part of the world.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.31 To do all or any of the matters hereby authorised in any part of the world or in conjunction with or as
trustee or agent for any other company or person or by or through any factors, trustees or agents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.32 To make gifts, pay gratuities or grant bonuses to current and former Directors (including substitute directors),
officers or employees of the Company or to make gifts or pay gratuities to any person on their behalf or to charitable organisations,
trusts or other bodies corporate nominated by any such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.33 To do all such other things that the Company may consider incidental or conducive to the attainment of
the above objects or as are usually carried on in connection therewith.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.34 To carry on any business which the Company may lawfully engage in and to do all such things incidental
or conducive to the business or activity of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.35 To make or receive gifts by way of capital contribution or otherwise.

The objects set forth in any sub-clause of this clause shall be regarded as independent objects and shall not, except where the context expressly so requires, be in any way limited or restricted by reference to or inference from the terms of any other sub-clause, or by the name of the Company. None of such sub-clauses or the objects therein specified or the powers thereby conferred shall be deemed subsidiary or auxiliary merely to the objects mentioned in the first sub-clause of this clause, but the Company shall have full power to exercise all or any of the powers conferred by any part of this clause in any part of the world notwithstanding that the business, property or acts proposed to be transacted, acquired or performed do not fall within the objects of the first sub-clause of this clause.

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| | |
|:---|:---|
| NOTE: | It is hereby declared that the word "company" in this clause, except where used in reference to this Company shall be deemed to include any partnership or other body of persons whether incorporated or not incorporated and whether domiciled in Ireland or elsewhere and the intention is that the objects specified in each paragraph of this clause shall except where otherwise expressed in such paragraph be in no way limited or restricted by reference to or inference from the terms of any other paragraph. |

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4. The liability of the members is limited.

5. The share capital of the Company is US$5,500,000 divided into 500,000,000 ordinary shares with a nominal
value of US$0.01 each, 50,000,000 preferred shares with a nominal value of US$0.01 each and €25,000 divided into 25,000 deferred
ordinary shares with a nominal value of €1.00 each.

6. The shares forming the capital, increased or reduced, may be increased or reduced and be divided into
such classes and issued with any special rights, privileges and conditions or with such qualifications as regards preference, dividend,
capital, voting or other special incidents, and be held upon such terms as may be attached thereto or as may from time to time be provided
by the original or any substituted or amended articles of association and regulations of the Company for the time being, but so that where
shares are issued with any preferential or special rights attached thereto such rights shall not be alterable otherwise than pursuant
to the provisions of the Company's articles of association for the time being.

**COMPANIES ACT 2014**

**A PUBLIC COMPANY LIMITED BY SHARES**

**ARTICLES OF ASSOCIATION**

**-of-**

**AVADEL PHARMACEUTICALS PUBLIC LIMITED COMPANY**

**(as amended by all special resolutions passed up to and including on 12 January 2026, with the effectiveness of article 145 being subject to the Scheme (as defined therein) itself becoming effective)**

**PRELIMINARY**

1. The provisions set out in these Articles of Association shall constitute the whole of the regulations
applicable to the Company and no "optional provision" as defined by section 1007(2) of the Companies Act 2014 (with the
exception of sections 83 and 84 of the Companies Act 2014) shall apply to the Company.

2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In these articles:

"**Act**" means the Companies Act 2014 and every statutory modification and re-enactment thereof for the time being in force.

"**Acts**" means the Act and all statutes and statutory instruments which are to be read as one with, or construed or read together with or as one with, the Act and every statutory modification and re-enactment thereof for the time being in force.

"**address**" includes any number or address used for the purposes of communication by way of electronic mail or other electronic communication.

"**Approved Nominee**" means a person appointed under contractual arrangements with the Company to hold shares or rights or interests in shares of the Company on a nominee basis;

"**articles**" means the articles of association of which this article 2 forms part, as the same may be amended and may be from time to time and for the time being in force.

"**Assistant Secretary**" means any person appointed by the Secretary from time to time to assist the Secretary.

"**Clear Days**" in relation to the period of notice, means that period excluding the day when the notice is given or deemed to be given and the day for which it is given or on which it is to take effect.

"**Chairman**" means the Director who is elected by the Directors from time to time to preside as chairman at all meetings of the Board and at general meetings of the Company.

"**Company**" means the company whose name appears in the heading to these articles.

"**Directors**" or "**Board**" means the directors from time to time and for the time being of the Company or the directors present at a meeting of the board of directors and includes any person occupying the position of director by whatever name called.

"**electronic communication**" has the meaning given to those words in the Electronic Commerce Act 2000.

"**electronic signature**" has the meaning given to those words in the Electronic Commerce Act 2000.

"**Group**" means the Company and its subsidiaries from time to time and for the time being.

"**Holder**" in relation to any share, means the member whose name is entered in the Register as the holder of the share or, where the context permits, the members whose names are entered in the Register as the joint holders of shares.

"**Office**" means the registered office from time to time and for the time being of the Company.

"**Ordinary Resolution**" means a resolution passed by a simple majority of the votes cast by members of the Company as, being entitled to do so, vote in person or by proxy at a general meeting of the Company, subject to any alternative definition in the Acts.

"**public announcement**" means disclosure in a press release reported by a national news service or in a document publicly filed by the Company in accordance with the applicable rules of any stock exchange to which the Company's shares are admitted to trading and the rules and regulations promulgated thereunder.

"**Redeemable Shares**" means redeemable shares in accordance with the Act.

"**Register**" means the register of members to be kept as required in accordance the Act.

"**seal**" means the common seal of the Company.

"**Secretary**" means any person appointed to perform the duties of the secretary of the Company.

"**Special Resolution**" means a special resolution of the Company's members within the meaning of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Expressions in these articles referring to writing shall be construed, unless the contrary intention appears,
as including references to printing, lithography, photography and any other modes of representing or reproducing words in a visible form
except as provided in these articles and/or where it constitutes writing in electronic form sent to the Company, and the Company has agreed
to its receipt in such form. Expressions in these articles referring to execution of any document shall include any mode of execution
whether under seal or under hand or any mode of electronic signature as shall be approved by the Directors. Expressions in these articles
referring to receipt of any electronic communications shall, unless the contrary intention appears, be limited to receipt in such manner
as the Company has approved.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Unless the contrary intention appears, words or expressions contained in these articles shall bear the
same meaning as in the Acts or in any statutory modification thereof in force at the date at which these articles become binding on the
Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) A reference to a statute or statutory provision shall be construed as a reference to the laws of Ireland
unless otherwise specified and includes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any subordinate legislation made under it including all regulations, by-laws, orders and codes made thereunder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any repealed statute or statutory provision which it re-enacts (with or without modification); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) any statute or statutory provision which modifies, consolidates, re-enacts or supersedes it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) The masculine gender shall include the feminine and neuter, and vice versa, and the singular number shall
include the plural, and vice versa, and words importing persons shall include firms or companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Reference to US$, USD, or dollars shall mean the currency of the United States of America and reference
to €, euro, EUR or cent shall mean the currency of Ireland.

**SHARE CAPITAL AND VARIATION OF RIGHTS**

3. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The share capital of the Company is US$5,500,000 divided into 500,000,000 ordinary shares with a nominal
value of US$0.01 each, 50,000,000 preferred shares with a nominal value of US$0.01 each and €25,000 divided into 25,000 deferred
ordinary shares with a nominal value of €1.00 each.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The rights and restrictions attaching to the ordinary shares shall be as follows:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) subject to the right of the Company to set record dates for the purposes of determining the identity of
members entitled to notice of and/or to vote at a general meeting, the right to attend and speak at any general meeting of the Company
and to exercise one vote per ordinary share held at any general meeting of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the right to participate pro rata in all dividends and interim dividends declared in relation to the ordinary
shares; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the right, in the event of the Company's winding up, to participate pro rata in the total assets
of the Company.

The rights attaching to the ordinary shares may be subject to the terms of issue of any series or class of preferred shares allotted by the Directors from time to time in accordance with article 3(d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Directors may issue and allot deferred ordinary shares subject to the rights, privileges, limitations
and restrictions set out in this article 3(c):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Income

The holder of a deferred ordinary share shall not be entitled to receive any dividend or distribution declared, made or paid or any return of capital (save as provided for in this article) and shall not entitle its holder to any further or other right of participation in the assets of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) Capital

On a winding up of, or other return of capital (other than on a redemption of any class of shares in the capital of the Company) by the Company, the holders of deferred ordinary shares shall be entitled to participate in such return of capital or winding up of the Company, such entitlement to be limited to the repayment of the amount paid up or credited as paid up on such deferred ordinary shares and shall be paid only after the holders of ordinary shares shall have received payment in respect of such amount as is paid up or credited as paid up on those ordinary shares held by them at that time, plus the payment in cash of €100,000,000 on each such ordinary share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) Acquisition of Deferred Ordinary Shares

The Company as agent for the holders of deferred ordinary shares shall have the irrevocable authority to authorise and instruct the Secretary (or any other person appointed for the purpose by the Directors) to acquire, or to accept the surrender of, the deferred ordinary shares for no consideration and to execute on behalf of such holders such documents as are necessary in connection with such acquisition or surrender, and pending such acquisition or surrender to retain the certificates, to the extent issued, for such deferred ordinary shares. Any request by the Company to acquire, or for the surrender of, any deferred ordinary shares may be made by the Directors depositing at the Office a notice addressed to such person as the Directors shall have nominated on behalf of the holders of deferred ordinary shares. A person whose shares have been acquired or surrendered in accordance with this article shall cease to be a member in respect of such deferred ordinary shares but shall notwithstanding remain liable to pay the Company all monies which, at the date of acquisition or surrender, were payable by him or her to the Company in respect of such shares, but his or her liability shall cease if and when the Company has received payment in full of all such monies in respect of such shares. A notice issued pursuant to this paragraph shall be deemed to be validly issued notwithstanding the provisions of articles 132 to 137 inclusive.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) Voting

The holders of deferred ordinary shares shall not be entitled to receive notice of, nor attend, speak or vote at, any general meeting.

The rights attaching to the deferred ordinary shares may be subject to the terms of issue of any series or class of preferred shares allotted by the Directors from time to time in accordance with article 3(d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Directors are authorised to issue preferred shares from time to time in one or more classes or series,
and to fix for each such class or series such voting power, full or limited, or no voting power, and such designations, preferences and
relative, participating, optional or other special rights and such qualifications, limitations or restrictions thereof, as shall be stated
and expressed in the resolution or resolutions adopted by the Board providing for the issuance of such class or series, including, without
limitation, the authority to provide that any such class or series may be:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) redeemable at the option of the Company, or the Holders, or both, with the manner of the redemption to
be set by the Board, and redeemable at such time or times, including upon a fixed date, and at such price or prices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) entitled to receive dividends (which may be cumulative or non-cumulative) at such rates, on such conditions
and at such times, and payable in preference to, or in such relation to, the dividends payable on any other class or classes of shares
or any other series;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) entitled to such rights upon the dissolution of, or upon any distribution of the assets of, the Company;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) convertible into, or exchangeable for, shares of any other class or classes of shares, or of any other
series of the same or any other class or classes of shares, of the Company at such price or prices or at such rates of exchange and with
such adjustments as the Directors determine,

which rights and restrictions may be as stated in such resolution or resolutions of the Directors as determined by them in accordance with this article 3(d). The Board may at any time before the allotment of any preferred share by further resolution in any way amend the designations, preferences, rights, qualifications, limitations or restrictions, or vary or revoke the designations of such preferred shares.

The rights conferred upon the Holder of any pre-existing shares in the share capital of the Company shall be deemed not to be varied by the creation, issue and allotment of preferred shares in accordance with this article 3(d).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Unless the Directors specifically elect to treat such acquisition as a purchase for the purposes of the
Acts, an ordinary share shall be deemed to be a Redeemable Share on, and from the time of, the existence or creation of an agreement,
transaction or trade between the Company and any third party pursuant to which the Company acquires or will acquire ordinary shares, or
an interest in ordinary shares, from such third party. In these circumstances, the acquisition of such shares or interest in shares by
the Company, save where acquired otherwise than for valuable consideration in accordance with the Act, shall constitute the redemption
of a Redeemable Share in accordance with the Acts. No resolution, whether special or otherwise, shall be required to be passed to deem
any ordinary share a Redeemable Share.

4. Subject to the provisions of the Acts and the other provisions of this article, the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) pursuant to the Acts, issue any shares of the Company which are to be redeemed or are liable to be redeemed
at the option of the Company or the member on such terms and in such manner as may be determined by the Company in general meeting (by
Special Resolution) on the recommendation of the Directors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) subject to and in accordance with the provisions of the Acts and without prejudice to any relevant special
rights attached to any class of shares, pursuant to the Acts, purchase any of its own shares (including any Redeemable Shares and without
any obligation to purchase on any pro rata basis as between members or members of the same class) and may cancel any shares so purchased
or hold them as treasury shares (as defined by the Acts) and may reissue any such shares as shares of any class or classes.

5. Without prejudice to any special rights previously conferred on the Holders of any existing shares or
class of shares, any share in the Company may be issued with such preferred or deferred or other special rights or such restrictions,
whether in regard to dividend, voting, return of capital or otherwise, as the Company may from time to time by Ordinary Resolution determine.

6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Without prejudice to the authority conferred on the Directors pursuant to article 3 to issue preferred
shares in the capital of the Company, if at any time the share capital is divided into different classes of shares, the rights attached
to any class may, whether or not the Company is being wound up, be varied or abrogated with the consent in writing of the Holders of three-quarters
of all the votes of the issued share of that class, or with the sanction of a Special Resolution passed at a separate general meeting
of the Holders of the shares of that class, provided that, if the relevant class of Holders has only one Holder, that person present in
person or by proxy, shall constitute the necessary quorum for such a meeting. To every such meeting the provisions of article 35 shall
apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The redemption or purchase of preferred shares or any class of preferred shares shall not constitute a
variation of rights of the preferred Holders where the redemption or purchase of the preferred shares has been authorised solely by a
resolution of the ordinary Holders.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The issue, redemption or purchase of any preferred shares shall not constitute a variation of the rights
of the Holders of ordinary shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The issue of preferred shares or any class of preferred shares which rank *pari passu* with, or junior
to, any existing preferred shares or class of preferred shares shall not constitute a variation of the existing preferred shares or class
of preferred shares.

7. The rights conferred upon the Holders of the shares of any class issued with preferred or other rights
shall not, unless otherwise expressly provided by the terms of issue of the shares of that class, be deemed to be varied by the creation
or issue of further shares ranking *pari passu* therewith.

8. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the provisions of these articles relating to new shares, the shares shall be at the disposal
of the Directors, and they may (subject to the provisions of the Acts) allot, grant options over or otherwise dispose of them to such
persons, on such terms and conditions and at such times as they may consider to be in the best interests of the Company and its members,
but so that no share shall be issued at a discount save in accordance with the Acts, and so that the amount payable on application on
each share shall not be less than one-quarter of the nominal amount of the share and the whole of any premium thereon. To the extent permitted
by the Acts, shares may also be allotted by a committee of the Directors or by any other person where such committee or person is so authorised
by the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Subject to any requirement to obtain the approval of members under any laws, regulations or the rules of
any stock exchange to which the Company is subject, the Board is authorised, from time to time, in its discretion, to grant such persons,
for such periods and upon such terms as the Board deems advisable, options to purchase or subscribe for such number of shares of any class
or classes or of any series of any class as the Board may deem advisable, and to cause warrants or other appropriate instruments evidencing
such options to be issued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Directors are, for the purposes of the Acts, generally and unconditionally authorised to exercise
all powers of the Company to allot and issue relevant securities (as defined by the section 1021 of the Act) up to the amount of Company's
authorised share capital as of the date of adoption of these articles, and to allot and issue any shares purchased by the Company pursuant
to the provisions of the Acts and held as treasury shares, and this authority shall expire five years from the date of adoption of these
articles. The Company may before the expiry of such authority make an offer or agreement which would or might require relevant securities
to be allotted after such expiry and the Directors may allot relevant securities in pursuance of such an offer or agreement notwithstanding
that the authority hereby conferred has expired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Directors are hereby empowered pursuant to section 1021 of the Act to allot equity securities within
the meaning of section 1023 of the Act for cash pursuant to the authority conferred by paragraph (c) of this article 8 as if section
1022(1) of the Act did not apply to any such allotment. The Company may before the expiry of such authority make an offer or agreement
which would or might require equity securities to be allotted after such expiry and the Directors may allot equity securities in pursuance
of such an offer or agreement as if the power conferred by this paragraph (d) had not expired.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Nothing in these articles shall preclude the Directors from recognising a renunciation of the allotment
of any shares by any allottee in favour of some other person.

9. If by the conditions of allotment of any share the whole or part of the amount or issue price thereof
shall be payable by instalments, every such instalment when due shall be paid to the Company by the person who for the time being shall
be the Holder of the share.

10. The Company may pay commission to any person in consideration of a person subscribing or agreeing to subscribe,
whether absolutely or conditionally, for any shares in the Company or procuring or agreeing to procure subscriptions, whether absolute
or conditional, for any shares in the Company on such terms and subject to such conditions as the Directors may determine, including,
without limitation, by paying cash or allotting and issuing fully or partly paid shares or any combination of the two. The Company may
also, on any issue of shares, pay such brokerage as may be lawful.

11. Except as required by law, no person shall be recognised by the Company as holding any share upon any
trust, and the Company shall not be bound by or be compelled in any way to recognise (even when having notice thereof) any equitable,
contingent, future or partial interest in any share or any interest in any fractional part of a share or (except only as by these articles
or by law otherwise provided) any other rights in respect of any share except an absolute right to the entirety thereof in the Holder.

12. No person shall receive a share certificate in respect of any ordinary share held by them in the share
capital of the Company, whether such ordinary share was allotted or transferred to them, unless so requested in accordance with the Acts.

13. The Company shall not give, whether directly or indirectly and whether by means of a loan, guarantee,
the provision of security or otherwise, any financial assistance for the purpose of or in connection with a purchase or subscription made
or to be made by any person of or for any shares in the Company or in its holding company, except as permitted by the Acts.

**LIEN**

14. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall have a first and paramount lien on every share (not being a fully paid share) for all
moneys (whether presently payable or not) payable at a fixed time or called in respect of that share. The Directors, at any time, may
declare any share to be wholly or in part exempt from the provisions of this article. The Company's lien on a share shall extend
to all moneys payable in respect of it.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company may sell in such manner as the Directors determine any share on which the Company has a lien
if a sum in respect of which the lien exists is presently payable and is not paid within fourteen Clear Days after notice demanding payment,
and stating that if the notice is not complied with the share may be sold, has been given to the Holder of the share or to the person
entitled to it by reason of the death or bankruptcy of the Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To give effect to a sale, the Directors may authorise some person to execute an instrument of transfer
of the share sold to, or in accordance with the directions of, the purchaser. The transferee shall be entered in the Register as the Holder
of the share comprised in any such transfer and he shall not be bound to see to the application of the purchase moneys nor shall his title
to the share be affected by any irregularity in or invalidity of the proceedings in reference to the sale, and after the name of the transferee
has been entered in the Register, the remedy of any person aggrieved by the sale shall be in damages only and against the Company exclusively.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The net proceeds of the sale, after payment of the costs, shall be applied in payment of so much of the
sum for which the lien exists as is presently payable and any residue (upon surrender to the Company for cancellation of the certificate
for the shares sold and subject to a like lien for any moneys not presently payable as existed upon the shares before the sale) shall
be paid to the person entitled to the shares at the date of the sale.

**CALLS ON SHARES**

15. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the terms of allotment, the Directors may make calls upon the members in respect of any moneys
unpaid on their shares, including shares where the conditions of allotment provide for payment at fixed times, and each member (subject
to receiving at least fourteen Clear Days' notice specifying when and where payment is to be made) shall pay to the Company as required
by the notice the amount called on his shares. A call may be required to be paid by instalments. A call may be revoked before receipt
by the Company of a sum due thereunder, in whole or in part and payment of a call may be postponed in whole or in part. A person upon
whom a call is made shall remain liable for calls made upon him notwithstanding the subsequent transfer of the shares in respect of which
the call was made.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A call shall be deemed to have been made at the time when the resolution of the Directors authorising
the call was passed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The joint Holders of a share shall be jointly and severally liable to pay all calls in respect thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) If a call remains unpaid after it has become due and payable the person from whom it is due and payable
shall pay interest on the amount unpaid from the day it became due until it is paid at the rate fixed by the terms of allotment of the
share or in the notice of the call or, if no rate is fixed, at the appropriate rate (as defined by the Acts) but the Directors may waive
payment of the interest wholly or in part.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) An amount payable in respect of a share on allotment or at any fixed date, whether in respect of nominal
value or as an instalment of a call, shall be deemed to be a call and if it is not paid the provisions of these articles shall apply as
if that amount had become due and payable by virtue of a call.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Subject to the terms of allotment, the Directors may make arrangements on the issue of shares for a difference
between the Holders in the amounts and times of payment of calls on their shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) The Directors, if they think fit, may receive from any member willing to advance the same all or any part
of the moneys uncalled and unpaid upon any shares held by him, and upon all or any of the moneys so advanced may pay (until the same would,
but for such advance, become payable) interest at such rate, not exceeding (unless the Company in general meeting otherwise directs) fifteen
percent per annum, as may be agreed upon between the Directors and the member paying such sum in advance.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) (i) If a member fails to pay any call or instalment of a call on the day appointed for payment thereof, the Directors, at any time thereafter
and during such times as any part of the call or instalment remains unpaid, may serve a notice on him requiring payment of so much of
the call or instalment as is unpaid together with any interest which may have accrued.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The notice shall name a further day (not earlier than the expiration of fourteen Clear Days from the date
of service of the notice) on or before which the payment required by the notice is to be made, and shall state that in the event of non-payment
at or before the time appointed the shares in respect of which the call was made will be liable to be forfeited.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) If the requirements of any such notice as aforesaid are not complied with then, at any time thereafter
before the payment required by the notice has been made, any shares in respect of which the notice has been given may be forfeited by
a resolution of the Directors to that effect. The forfeiture shall include all dividends or other moneys payable in respect of the forfeited
shares and not paid before forfeiture. The Directors may accept a surrender of any share liable to be forfeited hereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) On the trial or hearing of any action for the recovery of any money due for any call it shall be sufficient
to prove that the name of the member sued is entered in the Register as the Holder, or one of the Holders, of the shares in respect of
which such debt accrued, that the resolution making the call is duly recorded in the minute book and that notice of such call was duly
given to the member sued, in pursuance of these articles, and it shall not be necessary to prove the appointment of the Directors who
made such call nor any other matters whatsoever, but the proof of the matters aforesaid shall be conclusive evidence of the debt.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) A forfeited share may be sold or otherwise disposed of on such terms and in such manner as the Directors
think fit and at any time before a sale or disposition the forfeiture may be cancelled on such terms as the Directors think fit. Where
for the purposes of its disposal such a share is to be transferred to any person, the Directors may authorise some person to execute an
instrument of transfer of the share to that person. The Company may receive the consideration, if any, given for the share on any sale
or disposition thereof and may execute a transfer of the share in favour of the person to whom the share is sold or disposed of and thereupon
he shall be registered as the Holder of the share and shall not be bound to see to the application of the purchase money, if any, nor
shall his title to the share be affected by any irregularity or invalidity in the proceedings in reference to the forfeiture, sale or
disposal of the share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) A person whose shares have been forfeited shall cease to be a member in respect of the forfeited shares,
but nevertheless shall remain liable to pay to the Company all moneys which, at the date of forfeiture, were payable by him to the Company
in respect of the shares, without any deduction or allowance for the value of the shares at the time of forfeiture but his liability shall
cease if and when the Company shall have received payment in full of all such moneys in respect of the shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) A statutory declaration that the declarant is a Director or the Secretary of the Company, and that a share
in the Company has been duly forfeited on the date stated in the declaration, shall be conclusive evidence of the facts therein stated
as against all persons claiming to be entitled to the share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(l) The provisions of these articles as to forfeiture shall apply in the case of non-payment of any sum which,
by the terms of issue of a share, becomes payable at a fixed time, whether on account of the nominal value of the share or by way of premium,
as if the same had been payable by virtue of a call duly made and notified.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(m) The Directors may accept the surrender of any share which the Directors have resolved to have been forfeited
upon such terms and conditions as may be agreed and, subject to any such terms and conditions, a surrendered share shall be treated as
if it has been forfeited.

**TRANSFER OF SHARES**

16. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The instrument of transfer of any share may be executed for and on behalf of the transferor by the Secretary,
an Assistant Secretary or any such person that the Secretary or an Assistant Secretary nominates for that purpose (whether in respect
of specific transfers or pursuant to a general standing authorisation), and the Secretary, Assistant Secretary or the relevant nominee
shall be deemed to have been irrevocably appointed agent for the transferor of such share or shares with full power to execute, complete
and deliver in the name of and on behalf of the transferor of such share or shares all such transfers of shares held by the members in
the share capital of the Company. Any document which records the name of the transferor, the name of the transferee, the class and number
of shares agreed to be transferred, the date of the agreement to transfer shares and the price per share, shall, once executed by the
transferor or the Secretary, Assistant Secretary or the relevant nominee as agent for the transferor, and by the transferee where required
by the Act, be deemed to be a proper instrument of transfer for the purposes of the Act. The transferor shall be deemed to remain the
Holder of the share until the name of the transferee is entered on the Register in respect thereof, and neither the title of the transferee
nor the title of the transferor shall be affected by any irregularity or invalidity in the proceedings in reference to the sale should
the Directors so determine.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company, at its absolute discretion, may, or may procure that a subsidiary of the Company shall, pay
Irish stamp duty arising on a transfer of shares on behalf of the transferee of such shares of the Company. If stamp duty resulting from
the transfer of shares in the Company which would otherwise be payable by the transferee is paid by the Company or any subsidiary of the
Company on behalf of the transferee, then in those circumstances, the Company shall, on its behalf or on behalf of its subsidiary (as
the case may be), be entitled to (i) seek reimbursement of the stamp duty from the transferee, (ii) set-off the stamp duty against
any dividends payable to the transferee of those shares and (iii) claim a first and permanent lien on the shares on which stamp duty
has been paid by the Company or its subsidiary for the amount of stamp duty paid. The Company's lien shall extend to all dividends
paid on those shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding the provisions of these articles and subject to any provision of the Acts, title to any
shares in the Company may also be evidenced and transferred without a written instrument in accordance with the Acts or any regulations
made thereunder. The Directors shall have power to permit any class of shares to be held in uncertificated form and to implement any arrangements
they think fit for such evidencing and transfer which accord with such regulations and in particular shall, where appropriate, be entitled
to disapply or modify all or part of the provisions in these articles with respect to the requirement for written instruments of transfer
and share certificates (if any), in order to give effect to such regulations.

17. Subject to such of the restrictions of these articles and to such of the conditions of issue of any share
warrants as may be applicable, the shares of any member and any share warrant may be transferred by instrument in writing in any usual
or common form or any other form which the Directors may approve.

18. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors in their absolute discretion and without assigning any reason therefor may decline to register:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any transfer of a share which is not fully paid; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) any transfer to or by a minor or person of unsound mind;

but this shall not apply to a transfer of such a share resulting from a sale of the share through a stock exchange on which the share is listed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Directors may decline to recognise any instrument of transfer unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the instrument of transfer is accompanied by the certificate of the shares to which it relates and such
other evidence as the Directors may reasonably require to show the right of the transferor to make the transfer;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the instrument of transfer is in respect of one class of share only;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) a fee of €10 or such lesser sum as the Directors may from time to time require, is paid to the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the instrument of transfer is in favour of four transferees or fewer; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) it is lodged at the Office or at such other place as the Directors may appoint.

19. If the Directors refuse to register a transfer, they shall, within two months after the date on which
the transfer was lodged with the Company, send to the transferee notice of the refusal.

20. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors may from time to time fix a record date for the purposes of determining the rights of members
to notice of and/or to vote at any general meeting of the Company. The record date shall not precede the date upon which the resolution
fixing the record date is adopted by the Directors, and the record date shall be not more than eighty nor less than ten days before the
date of such meeting. If no record date is fixed by the Directors, the record date for determining members entitled to notice of or to
vote at a meeting of the members shall be the close of business on the day next preceding the day on which notice is given. Unless the
Directors determine otherwise, the determination of those members of record entitled to notice of or to vote at a meeting of members shall
apply also to any adjournment or postponement of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) In order that the Directors may determine the members entitled to receive payment of any dividend or other
distribution or allotment of any rights or the members entitled to exercise any rights in respect of any change, conversion or exchange
of shares, or for the purpose of any other lawful action, the Board may fix a record date, which record date shall not precede the date
upon which the resolution fixing the record date is adopted, and which record date shall be not more than 60 nor less than ten days prior
to such action. If no record date is fixed, the record date for determining members for such purpose shall be at the close of business
on the day on which the Directors adopt the resolution relating thereto.

21. Registration of transfers may be suspended at such times and for such period, not exceeding in the whole
30 days in each year, as the Directors may from time to time determine subject to the requirements of the Acts.

22. All instruments of transfer shall upon their being lodged with the Company remain the property of the
Company and the Company shall be entitled to retain them.

23. Subject to the provisions of these articles, whenever as a result of a consolidation of shares or otherwise
any members would become entitled to fractions of a share, the Directors may sell or cause to be sold, on behalf of those members, the
shares representing the fractions for the best price reasonably obtainable to any person and distribute the proceeds of sale (subject
to any applicable tax, abandoned property laws and the reasonable expenses of sale) in due proportion among those members, except that
any proceeds in respect of any holding which is less than a sum fixed by the Board may be retained for the benefit of the Company. The
Directors may authorise some person to execute an instrument of transfer of the shares to, or in accordance with the directions of, the
purchaser. The transferee shall not be bound to see to the application of the purchase money nor shall his title to the shares be affected
by any irregularity in or invalidity of the proceedings in reference to the sale.

**TRANSMISSION OF SHARES**

24. In the case of the death of a member, the survivor or survivors where the deceased was a joint Holder,
and the personal representatives of the deceased where he was a sole Holder, shall be the only persons recognised by the Company as having
any title to his interest in the shares; but nothing herein contained shall release the estate of a deceased joint Holder from any liability
in respect of any share which had been jointly held by him with other persons.

25. Any person becoming entitled to a share in consequence of the death or bankruptcy of a member may, upon
such evidence being produced as may from time to time properly be required by the Directors and subject as herein provided, elect either
to be registered himself as Holder of the share or to have some person nominated by him registered as the transferee thereof, but the
Directors shall, in either case, have the same right to decline or suspend registration as they would have had in the case of a transfer
of the shares by that member before his death or bankruptcy, as the case may be.

26. If the person so becoming entitled elects to be registered himself, he shall deliver or send to the Company
a notice in writing signed by him stating that he so elects. If he elects to have another person registered, he shall testify his election
by executing to that person a transfer of the share. All the limitations, restrictions and provisions of these articles relating to the
right to transfer and the registration of transfers of shares shall be applicable to any such notice or transfer as aforesaid as if the
death or bankruptcy of the member had not occurred and the notice of transfer were a transfer signed by that member.

27. A person becoming entitled to a share by reason of the death or bankruptcy of the Holder shall be entitled
to the same dividends and other advantages to which he would be entitled if he were the registered Holder of the share, except that he
shall not, before being registered as a member in respect of the share, be entitled in respect of it to exercise any right conferred by
membership in relation to the meetings of the Company, so, however, that the Directors may at any time give notice requiring such person
to elect either to be registered himself or to transfer the share, and if the notice is not complied with within 90 days, the Directors
may thereupon withhold payment of all dividends, bonuses or other moneys payable in respect of the share until the requirements of the
notice have been complied with.

**AMENDMENT OF MEMORANDUM OF ASSOCATION; CHANGE OF LOCATION OF REGISTERED OFFICE; AND ALTERATION OF CAPITAL**

28. The Company may from time to time by Ordinary Resolution increase the authorised share capital by such
sum, to be divided into shares of such amount, as the resolution shall prescribe.

29. The Company may by Ordinary Resolution:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) divide its share capital into several classes and attach to them respectively any preferential, deferred,
qualified or special rights, privileges or conditions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) increase the authorised share capital by such sum to be divided into shares of such nominal value, as
such Ordinary Resolution shall prescribe;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) consolidate and divide all or any of its share capital into shares of larger amount than its existing
shares;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) by subdivision of its existing shares or any of them divide the whole or any part of its share capital
into shares of smaller nominal value than is fixed by the memorandum of association subject to the Acts, so, however, that in the sub-division
the proportion between the amount paid and the amount, if any, unpaid on each reduced share shall be the same as it was in the case of
the Share from which the reduced share is derived;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) cancel any shares that at the date of the passing of the relevant Ordinary Resolution have not been taken
or agreed to be taken by any person; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) subject to applicable law, change the currency denomination of its share capital.

30. Subject to the provisions of the Acts, the Company may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) by Special Resolution change its name, alter or add to the memorandum of association with respect to any
objects, powers or other matters specified therein or alter or add to these articles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) by Special Resolution reduce its company capital (including its share capital and any capital redemption
reserve or share premium account) in any way it thinks expedient and, without prejudice to the generality of the foregoing, may

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) extinguish or reduce the liability on any of its shares in respect of share capital not paid up;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) either with or without extinguishing or reducing liability on any of its shares, cancel any paid up company
capital which is lost or unrepresented by available assets; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) either with or without extinguishing or reducing liability on any of its shares, pay off any paid up company
capital which is in excess of the wants of the Company,

and in relation to such reductions, the Company may by Special Resolution determine the terms upon which the reduction is to be effected, including in the case of a reduction of part only of any class of shares, those shares to be affected; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) by resolution of the Directors change the location of its Office.

**GENERAL MEETINGS**

31. The Company shall in each year hold a general meeting as its annual general meeting in addition to any
other meeting in that year, and shall specify the meeting as such in the notices calling it. Not more than fifteen months shall elapse
between the date of one annual general meeting of the Company and that of the next. This article shall not apply in the case of the first
general meeting, in respect of which the Company shall convene the meeting within the time periods required by the Act.

32. Subject to the Acts, all general meetings of the Company may be held outside of Ireland.

33. All general meetings other than annual general meetings shall be called extraordinary general meetings.

34. The Directors may, whenever they think fit, convene an extraordinary general meeting, and extraordinary
general meetings shall also be convened on such requisition, or in default may be convened by such requisitionists, as provided in the
Acts. Where any enactment confers rights on the members of a company to convene a general meeting and expresses such rights to apply save
where a company's articles of association or constitution provides otherwise, including, but not limited to, section 178(2) of
the Act, such rights shall not apply to the members of the Company.

35. All provisions of these articles relating to general meetings of the Company shall, mutatis mutandis,
apply to every separate general meeting of the Holders of any class of shares in the capital of the Company, except that the necessary
quorum shall be two or more persons holding or representing by proxy (whether or not such Holder actually exercises his voting rights
in whole, in part or at all at the relevant general meeting) at least a majority in nominal value of the issued shares of the class or,
at any adjourned meeting of such Holders, one Holder holding or representing by proxy (whether or not such Holder actually exercises his
voting rights in whole, in part or at all at the relevant general meeting) at least a majority in nominal value of the issued shares of
the class, shall be deemed to constitute a meeting.

36. A Director shall be entitled, notwithstanding that he is not a member, to attend and speak at any general
meeting and at any separate meeting of the Holders of any class of shares in the Company.

**NOTICE OF GENERAL MEETINGS**

37. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the provisions of the Acts allowing a general meeting to be called by shorter notice, an annual
general meeting and an extraordinary general meeting for the passing of a Special Resolution shall be called by not more than 60 Clear
Days' notice and not less than 21 Clear Days' notice and all other extraordinary general meetings shall be called by not less
than 14 Clear Days' notice.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any notice convening a general meeting shall specify the time and place of the meeting and, in the case
of special business, the general nature of that business and, in reasonable prominence, that a member entitled to attend and vote is entitled
to appoint a proxy to attend, speak and vote in his place and that a proxy need not be a member of the Company. It shall also give particulars
of any Directors who are to retire at the meeting and of any persons who are recommended by the Directors for appointment or re-appointment
as Directors at the meeting or in respect of whom notice has been duly given to the Company of the intention to propose them for appointment
or re-appointment as Directors at the meeting. Provided that the latter requirement shall only apply where the intention to propose the
person has been received by the Company in accordance with the provisions of these articles. Subject to any restrictions imposed on any
shares, the notice of the meeting shall be given to all the members of the Company as of the record date set by the Directors and to the
Directors and the statutory auditors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The accidental omission to give notice of a meeting to, or the non-receipt of notice of a meeting by,
any person entitled to receive notice shall not invalidate the proceedings at the meeting.

38. Where, by any provision contained in the Acts, notice of a greater length than that required by article
37(a) is required of a resolution, the resolution shall not be effective (except where the Directors of the Company have resolved
to submit it) unless notice of the intention to move it has been given to the Company not less than 28 days (or such period as the Acts
permit) before the meeting at which it is moved, and the Company shall give to the members notice of any such resolution as required by
and in accordance with the provisions of the Acts.

**PROCEEDINGS AT GENERAL MEETINGS**

39. All business shall be deemed special that is transacted at an extraordinary general meeting, and also
that is transacted at an annual general meeting, with the exception of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the consideration of the Company's statutory financial statements and the report of the directors
and the report of the statutory auditors on those statements and that report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the review by the members of the Company's affairs;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the declaration of a dividend (if any) of an amount not exceeding the amount recommended by the directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) the authorisation of the directors to approve the remuneration of the statutory auditors; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) the election and re-election of directors.

40. At any annual general meeting of the members, only such nominations of persons for election to the Board
shall be made, and only such other business shall be conducted or considered, as shall have been properly brought before the meeting.
For nominations to be properly made at an annual general meeting, and proposals of other business to be properly brought before an annual
meeting, nominations and proposals of other business must be: (a) specified in the Company's notice of meeting (or any supplement
thereto) given by or at the direction of the Board, (b) otherwise properly made at the annual general meeting, by or at the direction
of the Board or (c) otherwise properly requested to be brought before the annual general meeting by a member of the Company in accordance
with these articles. For nominations of persons for election to the Board or proposals of other business to be properly requested by a
member to be made at an annual general meeting, a member must (i) be a member at the time of giving of notice of such annual general
meeting by or at the direction of the Board and at the time of the annual general meeting, (ii) be entitled to vote at such annual
general meeting and (iii) comply with the procedures set forth in these articles as to such business or nomination. The immediately
preceding sentence shall be the exclusive means for a member to make nominations or other business proposals (other than matters properly
brought under the applicable rules of any stock exchange to which the Company's shares are admitted to trading and included
in the Company's notice of meeting) before an annual general meeting of members.

41. At any extraordinary general meeting of the members, only such business shall be conducted or considered,
as shall have been properly brought before the meeting pursuant to the Company's notice of meeting. To be properly brought before
an extraordinary general meeting, proposals of business must be (a) specified in the Company's notice of meeting (or any supplement
thereto) given by or at the direction of the Board, (b) otherwise properly brought before the extraordinary general meeting, by or
at the direction of the Board, or (c) otherwise properly brought before the meeting by any members of the Company pursuant to the
valid exercise of power granted to them under the Acts.

42. No shareholder shall be entitled to propose any person to be appointed, elected or re-elected as Director
at any extraordinary general meeting.

43. Except as otherwise provided by the Acts, the memorandum of association or these articles, the Chairman
of any general meeting shall have the power to determine whether a nomination or any other business proposed to be brought before the
general meeting was made or proposed, as the case may be, in accordance with these articles and, if any proposed nomination or other business
is not in compliance with these articles, to declare that no action shall be taken on such nomination or other proposal and such nomination
or other proposal shall be disregarded.

44. No business shall be transacted at any general meeting unless a quorum is present at the time when the
meeting proceeds to business. Five or more Holders of shares, present in person or by proxy (whether or not such Holder actually exercises
his voting rights in whole, in part or at all at the relevant general meeting), entitling them to exercise a majority of the voting power
of the Company on the relevant record date shall constitute a quorum. Abstentions and broker non-votes will be regarded as present for
the purposes of establishing the presence of a quorum.

45. Any general meeting duly called at which a quorum is not present shall be adjourned and the Company shall
provide notice pursuant to article 38 in the event that such meeting is to be reconvened.

46. The Chairman, if any, of the Board shall preside as Chairman at every general meeting of the Company,
or if there is no such Chairman, or if he is not present within fifteen minutes after the time appointed for the holding of the meeting
or is unwilling to act, the Directors present shall elect one of their number to be Chairman of the meeting.

47. If at any meeting no Director is willing to act as Chairman or if no Director is present within fifteen
minutes after the time appointed for holding the meeting, the members present shall choose one of their number to be Chairman of the meeting.

48. The Chairman may, with the consent of any meeting at which a quorum is present, and shall if so directed
by the meeting, adjourn the meeting from time to time and from place to place without notice other than by announcement of the time and
place of the adjourned meeting by the Chairman of the meeting. The Chairman of the meeting may at any time without the consent of the
meeting adjourn the meeting to another time and/or place if, in his opinion, it would facilitate the conduct of the business of the meeting
to do so or if he is so directed by the Board. Save as aforesaid, it shall not be necessary to give any notice of an adjournment or of
the business to be transacted at an adjourned meeting.

49. At any general meeting a resolution put to the vote of the meeting shall be decided by poll.

50. A poll shall be taken in such manner as the Chairman directs, and the result of the poll shall be deemed
to be the resolution of the meeting at which the poll was taken.

51. Unless the Directors otherwise determine, no member shall be entitled to vote at any general meeting or
any separate meeting of the Holders of any class of shares in the Company, either in person or by proxy, or to exercise any privilege
as a member in respect of any share held by him unless all monies then payable by him in respect of that share have been paid.

**ADVANCE NOTICE OF MEMBER BUSINESS AND NOMINATIONS**

52. Without qualification or limitation, subject to article 62, for any nominations or any other business
to be properly brought before an annual general meeting by a member pursuant to article 40, the member must have given timely notice thereof
(including, in the case of nominations, the completed and signed questionnaire, representation and agreement required by article 63),
and timely updates and supplements thereof, in writing to the Secretary, and such other business must otherwise be a proper matter for
member action.

53. To be timely, a member's notice for any nominations or any other business to be properly brought
before an annual general meeting by a member pursuant to article 40 shall be delivered to the Secretary at the Office by close of business
on that day that is not less than 120 days prior to the first anniversary of the day of release to shareholders of the Company's
proxy statement, issued pursuant to the applicable rules of any stock exchange to which the Company's shares are admitted to
trading, in respect of the preceding year's annual general meeting; provided, however, that in the event that the date of the annual
general meeting is changed by more than 30 days from the date contemplated at the time of the previous year's proxy statement, notice
by the member must be so delivered by close of business on the day that is not less than the later of (a) 150 days prior to the day
of the contemplated annual general meeting or (b) ten days after the day on which public announcement of the date of the contemplated
annual general meeting is first made by the Company; provided, further, that with respect to the first annual general meeting of the Company,
notice by the member must be so delivered by close of business on the day that is not less than ten days after the day on which public
announcement of the date of such meeting is first made by the Company. In no event shall any adjournment or postponement of an annual
general meeting, or the public announcement thereof, commence a new time period for the giving of a member's notice as described
above.

54. Notwithstanding anything in article 53 to the contrary, in the event that the number of directors to be
elected to the Board is increased by the Board, and there is no public announcement by the Company naming all of the nominees for director
or specifying the size of the increased Board at least 130 days prior to the first anniversary of the day of release to shareholders of
the Company's proxy statement issued pursuant to the applicable rules of any stock exchange to which the Company's shares
are admitted to trading in respect of the preceding year's annual general meeting, a member's notice required by articles

delivered to the Secretary at the Office not later than the close of business on the day that is ten days after the day on which such
public announcement is first made by the Company.

55. In addition, to be considered timely, a member's notice shall further be updated and supplemented,
if necessary, so that the information provided or required to be provided in such notice shall be true and correct as of the record date
for the meeting and as of the date that is ten business days prior to the meeting or any adjournment or postponement thereof, and such
update and supplement shall be delivered to the Secretary at the Office not later than five business days after the record date for the
meeting in the case of the update and supplement required to be made as of the record date, and not later than eight business days prior
to the date for the meeting or any adjournment or postponement thereof in the case of the update and supplement required to be made as
of ten business days prior to the meeting or any adjournment or postponement thereof.

56. Subject to article 62, in the event the Company calls an extraordinary general meeting of members for
the purpose of electing one or more directors to the Board, any member may nominate a person or persons (as the case may be) for election
to such position(s) as specified in the Company's notice of meeting, provided that the member gives timely notice thereof (including
the completed and signed questionnaire, representation and agreement required by article 63), and timely updates and supplements thereof,
in writing, to the Secretary.

57. To be timely, a member's notice for any nomination to be properly brought before such an extraordinary
general meeting shall be delivered to the Secretary at the Office by close of business on the day that is not less than 120 days prior
to the date of such extraordinary general meeting or, if the first public announcement of the date of such extraordinary general meeting
is less than 130 days prior to the date of such extraordinary general meeting, by close of business on the day that is ten days after
the day on which public announcement of the date of the extraordinary general meeting and of the nominees proposed by the Board to be
elected at such meeting is first made by the Company. In no event shall any adjournment or postponement of an extraordinary general meeting,
or the public announcement thereof, commence a new time period for the giving of a member's notice as described above.

58. In addition, to be considered timely, a member's notice shall further be updated and supplemented,
if necessary, so that the information provided or required to be provided in such notice shall be true and correct as of the record date
for the meeting and as of the date that is ten business days prior to the meeting or any adjournment or postponement thereof, and such
update and supplement shall be delivered to the Secretary at the Office not later than five business days after the record date for the
meeting in the case of the update and supplement required to be made as of the record date, and not later than eight business days prior
to the date for the meeting, any adjournment or postponement thereof in the case of the update and supplement required to be made as of
ten business days prior to the meeting or any adjournment or postponement thereof.

59. To be in proper form, a member's notice (whether given pursuant to articles 52-55 or articles 56-58)
to the Secretary must include the following, as applicable:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) As to the member giving the notice and the beneficial owner, if any, on whose behalf the nomination or
proposal is made, a member's notice must set forth: (i) the name and address of such member, as they appear on the Company's
books, of such beneficial owner, if any, and of their respective affiliates or associates or others acting in concert therewith, (ii) (A) the
class or series and number of shares of the Company which are, directly or indirectly, owned beneficially and of record by such member,
such beneficial owner and their respective affiliates or associates or others acting in concert therewith, (B) any option, warrant,
convertible security, share appreciation right, or similar right with an exercise or conversion privilege or a settlement payment or mechanism
at a price related to any class or series of shares of the Company or with a value derived in whole or in part from the value of any class
or series of shares of the Company, or any derivative or synthetic arrangement having the characteristics of a long position in any class
or series of shares of the Company, or any contract, derivative, swap or other transaction or series of transactions designed to produce
economic benefits and risks that correspond substantially to the ownership of any class or series of shares of the Company, including
due to the fact that the value of such contract, derivative, swap or other transaction or series of transactions is determined by reference
to the price, value or volatility of any class or series of shares of the Company, whether or not such instrument, contract or right shall
be subject to settlement in the underlying class or series of shares of the Company, through the delivery of cash or other property, or
otherwise, and without regard to whether the member, the beneficial owner, if any, or any affiliates or associates or others acting in
concert therewith, may have entered into transactions that hedge or mitigate the economic effect of such instrument, contract or right,
or any other direct or indirect opportunity to profit or share in any profit derived from any increase or decrease in the value of shares
of the Company (any of the foregoing, a "**Derivative Instrument**") directly or indirectly owned beneficially by such
member, the beneficial owner, if any, or any affiliates or associates or others acting in concert therewith, (C) any proxy, contract,
arrangement, understanding, or relationship pursuant to which such member has a right to vote any class or series of shares of the Company,
(D) any agreement, arrangement, understanding, relationship or otherwise, including any repurchase or similar so-called "stock
borrowing" agreement or arrangement, involving such member, directly or indirectly, the purpose or effect of which is to mitigate
loss to, reduce the economic risk (of ownership or otherwise) of any class or series of the shares of the Company by, manage the risk
of share price changes for, or increase or decrease the voting power of, such member with respect to any class or series of the shares
of the Company, or which provides, directly or indirectly, the opportunity to profit or share in any profit derived from any decrease
in the price or value of any class or series of the shares of the Company (any of the foregoing, a "**Short Interest** "),
(E) any rights to dividends on the shares of the Company owned beneficially by such member that are separated or separable from the
underlying shares of the Company, (F) any proportionate interest in shares of the Company or Derivative Instruments held, directly
or indirectly, by a general or limited partnership in which such member is a general partner or, directly or indirectly, beneficially
owns an interest in a general partner of such general or limited partnership, (G) any performance-related fees (other than an asset-based
fee) that such member is entitled to base on any increase or decrease in the value of shares of the Company or Derivative Instruments,
if any, including without limitation any such interests held by members of such member's immediate family sharing the same household,
(H) any significant equity interests or any Derivative Instruments or Short Interests in any principal competitor of the Company
held by such member, and (I) any direct or indirect interest of such member in any contract with the Company, any affiliate of the
Company or any principal competitor of the Company (including, in any such case, any employment agreement, collective bargaining agreement
or consulting agreement), and (iii) any other information relating to such member and beneficial owner, if any, that would be required
to be disclosed in a proxy statement and form or proxy or other filings required to be made in connection with solicitations of proxies
for, as applicable, the proposal and/or for the election of directors in a contested election pursuant to the applicable rules of
any stock exchange to which the Company's shares are admitted to trading and the regulations promulgated thereunder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) If the notice relates to any business other than a nomination of a director or directors that the member
proposes to bring before the meeting, a member's notice must, in addition to the matters set forth in article 59(a) above,
also set forth: (i) a brief description of the business desired to be brought before the meeting, the reasons for conducting such
business at the meeting and any material interest of such member and beneficial owner, if any, in such business, (ii) the text of
the proposal or business (including the text of any resolutions proposed for consideration and, in the event that such proposal or business
includes a proposal to amend these articles, the text of the proposed amendment), and (iii) a description of all agreements, arrangements
and understandings between such member and beneficial owner, if any, and any other person or persons (including their names) in connection
with the proposal of such business by such member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As to each person, if any, whom the member proposes to nominate for election or re-election to the Board,
a member's notice must, in addition to the matters set forth in article 59(a) above, also set forth: (i) all information
relating to such person that would be required to be disclosed in a proxy statement or other filings required to be made in connection
with solicitations of proxies for election of directors in a contested election pursuant to the applicable rules of any stock exchange
to which the Company's shares are admitted to trading and the rules and regulations promulgated thereunder (including such
person's written consent to being named in the proxy statement as a nominee and to serving as a director if elected) and (ii) a
description of all direct and indirect compensation and other material monetary agreements, arrangements and understandings during the
past three years, and any other material relationships, between or among such member and beneficial owner, if any, and their respective
affiliates and associates, or others acting in concert therewith, on the one hand, and each proposed nominee, and his or her respective
affiliates and associates, or others acting in concert therewith, on the other hand, including, without limitation all information that
would be required to be disclosed pursuant to the applicable rules of any stock exchange to which the Company's shares are
admitted to trading if the member making the nomination and any beneficial owner on whose behalf the nomination is made, if any, or any
affiliate or associate thereof or person acting in concert therewith, were the "registrant" for purposes of such rule and
the nominee were a director or executive officer of such registrant.

60. With respect to each person, if any, whom the member proposes to nominate for election or re-election
to the Board, a member's notice must, in addition to the matters set forth in articles 59(a) and 59(c) above, also include
a completed and signed questionnaire, representation and agreement required by article 63 of these articles. The Company may require any
proposed nominee to furnish such other information as may reasonably be required by the Company to determine the eligibility of such proposed
nominee to serve as an independent director of the Company or that could be material to a reasonable member's understanding of the
independence, or lack thereof, of such nominee.

61. Notwithstanding the provisions of these articles, a member shall also comply with all applicable requirements
of the applicable rules of any stock exchange to which the Company's shares are admitted to trading and the rules and
regulations thereunder with respect to the matters set forth in articles 52-63.

62. Nothing in these articles shall be deemed to affect any rights (i) of members to request inclusion
of proposals in the Company's proxy statement pursuant to the applicable rules of any stock exchange to which the Company's
shares are admitted to trading, (ii) of the holders of any series of preferred shares if and to the extent provided for under law,
the memorandum of association or these articles or (iii) of members of the Company to bring business before an extraordinary general
meeting pursuant to the valid exercise of power granted to them under the Acts. Subject to the applicable rules of any stock exchange
to which the Company's shares are admitted to trading, nothing in these articles shall be construed to permit any member, or give
any member the right, to include or have disseminated or described in the Company's proxy statement any nomination of director or
directors or any other business proposal.

63. Subject to the rights of members of the Company to propose nominations at an extraordinary general meeting
pursuant to the valid exercise of power granted to them under the Acts, to be eligible to be a nominee for election or re-election as
a director of the Company, a person must deliver (in accordance with the time periods prescribed for delivery of notice under articles
52-62) to the Secretary at the Office a written questionnaire with respect to the background and qualification of such person and the
background of any other person or entity on whose behalf the nomination is being made (which questionnaire shall be provided by the Secretary
upon written request), and a written representation and agreement (in the form provided by the Secretary upon written request) that such
person (A) is not and will not become a party to (1) any agreement, arrangement or understanding with, and has not given any
commitment or assurance to, any person or entity as to how such person, if elected as a director of the Company, will act or vote on any
issue or question (a "**Voting Commitment**") that has not been disclosed to the Company or (2) any Voting Commitment
that could limit or interfere with such person's ability to comply, if elected as a director of the Company, with such person's
fiduciary duties under applicable law, (B) is not and will not become a party to any agreement, arrangement or understanding with
any person or entity other than the Company with respect to any direct or indirect compensation, reimbursement or indemnification in connection
with service or action as a director that has not been disclosed therein, and (C) in such person's individual capacity and
on behalf of any person or entity on whose behalf the nomination is being made, would be in compliance, if elected as a director of the
Company, and will comply with all applicable corporate governance, conflict of interest, confidentiality and share ownership and trading
policies and guidelines of the Company publicly disclosed from time to time.

**VOTES OF MEMBERS**

64. Subject to any special rights or restrictions as to voting for the time being attached by or in accordance
with these articles to any class of shares, on a poll every member who is present in person or by proxy shall have one vote for each share
of which he is the Holder.

65. When there are joint Holders, the vote of the senior who tenders a vote, whether in person or by proxy,
shall be accepted to the exclusion of the votes of the other joint Holders; and for this purpose, seniority shall be determined by the
order in which the names stand in the Register.

66. A member of unsound mind, or in respect of whom an order has been made by any court having jurisdiction
(whether in Ireland or elsewhere) in matters concerning mental disorder, may vote by his committee, receiver, guardian or other person
appointed by that court and any such committee, receiver, guardian or other person may vote by proxy on a poll. Evidence to the satisfaction
of the Directors of the authority of the person claiming to exercise the right to vote shall be received at the Office or at such other
address as is specified in accordance with these articles for the receipt of appointments of proxy, not less than forty-eight hours before
the time appointed for holding the meeting or adjourned meeting at which the right to vote is to be exercised and in default the right
to vote shall not be exercisable.

67. No objection shall be raised to the qualification of any voter except at the meeting or adjourned meeting
at which the vote objected to is given or tendered, and every vote not disallowed at such meeting shall be valid for all purposes. Any
such objection made in due time shall be referred to the Chairman of the meeting, whose decision shall be final and conclusive.

68. Votes may be given either personally or by proxy.

69. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Every member entitled to attend and vote at a general meeting may appoint a proxy to attend, speak and
vote on his behalf and may appoint more than one proxy to attend, speak and vote at the same meeting. The appointment of a proxy shall
be in any form which the Directors may approve, subject to compliance with any requirements as to form under the Acts, and shall be signed
by or on behalf of the appointer. A body corporate must sign a form of proxy under its common seal (if applicable) or under the hand of
a duly authorised officer thereof. A proxy need not be a member of the Company. The appointment of a proxy in electronic or other form
shall only be effective in such manner as the Directors may approve, subject to any requirements of the Acts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Without limiting the foregoing, the Directors may from time to time permit appointments of a proxy to
be made by means of an electronic or internet communication or facility and may in a similar manner permit supplements to, or amendments
or revocations of, any such electronic or internet communication or facility to be made. For the avoidance of doubt, such appointments
of proxy as made by electronic or internet communication or facility as permitted by the Directors will be deemed to be deposited at the
place specified for such purpose once received by the Company. The Directors may in addition prescribe the method of determining the time
at which any such electronic or internet communication or facility is to be treated as deposited at the place specified for such purpose.
The Directors may treat any such electronic or internet communication or facility which purports to be or is expressed to be sent on behalf
of a Holder of a share as sufficient evidence of the authority of the person sending that instruction to send it on behalf of that Holder.

70. A body corporate which is a member of the Company may authorise such person as it thinks fit to act as
its representative at any meeting of the Company or of any class of members of the Company and the person so authorised shall be entitled
to exercise the same powers on behalf of the body corporate which he represents as that body corporate could exercise if it were an individual
member of the Company. The Company may require evidence from the body corporate of the due authorisation of such person to act as the
representative of the relevant body corporate.

71. An appointment of proxy relating to more than one meeting (including any adjournment thereof) having once
been received by the Company for the purposes of any meeting shall not require to be delivered, deposited or received again by the Company
for the purposes of any subsequent meeting to which it relates.

72. Receipt by the Company of an appointment of proxy in respect of a meeting shall not preclude a member
from attending and voting at the meeting or at any adjournment thereof. An appointment proxy shall be valid, unless the contrary is stated
therein, as well for any adjournment of the meeting as for the meeting to which it relates.

73. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A vote given or poll demanded in accordance with the terms of an appointment of proxy or a resolution
authorising a representative to act on behalf of a body corporate shall be valid notwithstanding the death or insanity of the principal,
or the revocation of the appointment of proxy or of the authority under which the proxy was appointed or of the resolution authorising
the representative to act or transfer of the share in respect of which the proxy was appointed or the authorisation of the representative
to act was given, provided that no intimation in writing (whether in electronic form or otherwise) of such death, insanity, revocation
or transfer shall have been received by the Company at the Office, before the commencement of the meeting or adjourned meeting at which
the appointment of proxy is used or at which the representative acts, provided, however, that where such intimation is given in electronic
form it shall have been received by the Company before the commencement of the meeting

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Directors may send, at the expense of the Company, by post, electronic mail or otherwise, to the members
forms for the appointment of a proxy (with or without stamped envelopes for their return) for use at any general meeting or at any class
meeting, either in blank or nominating any one or more of the Directors or any other persons in the alternative.

74. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Except in the case of the removal of statutory auditors or Directors and subject to the Acts, anything
which may be done by resolution in general meeting of all or any class or resolution in writing, signed by all of the holders or any class
thereof or their proxies (or in the case of a holder that is a corporation (whether or not a company within the meaning of the Acts) on
behalf of such holder) being all of the holders of the Company or any class thereof, who at the date of the resolution in writing would
be entitled to attend a meeting and vote on the resolution shall be valid and effective for all purposes as if the resolution had been
passed at a general meeting of the Company or any class thereof duly convened and held, and if described as a Special Resolution shall
be deemed to be a Special Resolution within the meaning of the Acts. Any such resolution in writing may be signed in as many counterparts
as may be necessary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the purposes of any written resolution under article 74(a), the date of the resolution in writing
is the date when the resolution is signed by, or on behalf of, the last holder to sign and any reference in any enactment to the date
of passing of a resolution is, in relation to a resolution in writing made in accordance with this section, a reference to such date.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) A resolution in writing made in accordance with article 74(a) is valid as if it had been passed by
the Company in general meeting or, if applicable, by a meeting of the relevant class of holders of the Company, as the case may be. A
resolution in writing made in accordance with this section shall constitute minutes for the purposes of the Acts and these articles.

**DIRECTORS**

75. Subject to article 94, the number of Directors shall not be less than two (the "**prescribed minimum** ")
nor more than thirteen and shall be determined by the Board (the "**Authorised Number** "). The continuing Directors may
act notwithstanding any vacancy in their body provided that, if the number of the Directors is reduced below the prescribed minimum, the
remaining Director or Directors shall appoint forthwith an additional Director or additional Directors so that the Board comprises such
minimum or shall convene a general meeting of the Company for the purpose of making such appointment. If, at any general meeting of the
Company, (a) the Chairman determines that the number of persons properly nominated to serve as Directors exceeds the Authorised Number
and (b) the number of Directors is reduced below the Authorised Number due to the failure of one or more Directors to be elected
or re-elected (as the case may be) by way of a majority of the votes cast at that meeting or any adjournment thereof, then from the persons
properly nominated to serve as Directors those receiving the highest number of votes in favour of election or re-election (as the case
may be) shall be elected or re-elected (as the case may be) to the Board so that the number of Directors equals the Authorised Number
and shall be Directors until the next annual general meeting. Where the number of Directors falls to less than the Authorised Number and
there are no Director or Directors capable of acting then any two members may summon a general meeting for the purpose of appointing Directors.
Any additional Director so appointed shall hold office (subject to the provisions of the Acts and these articles) only until the conclusion
of the annual general meeting of the Company next following such appointment. If, at any meeting of the Company, resolutions are passed
by a majority of the votes cast at that meeting or any adjournment thereof in respect of the election or re-election (as the case may
be) of Directors which would result in the Authorised Number being exceeded, then those Director(s), in such number as exceeds such Authorised
Number, receiving at that meeting the lowest number of votes in favour of election or re-election (as the case may be) shall, notwithstanding
the passing of any resolution by a majority of the votes cast at that meeting or any adjournment thereof in their favour, not be elected
or re-elected (as the case may be) to the Board; provided, that nothing in this provision will require or result in the removal of a Director
whose election or re-election to the Board was not voted on at such meeting.

76. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Each Director, not being an employee, shall be paid a fee for their services and each Director who is
an employee of the Company or the Group shall be paid remuneration (to include benefits in kind) for their employment. The fee or remuneration
paid to each Director shall be at such rate and on such basis as may from time to time be determined by the Board. The Directors may also
be paid all travelling, hotel and other expenses properly incurred by them in attending and returning from meetings of the Directors or
any committee of the Directors or general meetings of the Company or in connection with the business of the Company. The amount, rate
or basis of the fees, remuneration or expenses paid to the Directors shall not require approval or ratification by the Company in general
meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Each Director may use the property of the Company pursuant to or in connection with: the exercise or performance
of his or her duties, functions and powers as Director or employee; the terms of any contract of service or employment or letter of appointment;
and, or in the alternative, any other usage authorised by the Directors (or a person authorised by the Directors) from time to time; and
including in each case for a Director's own benefit or for the benefit of another person.

77. If any Director shall be called upon to perform extra services which in the opinion of the Directors are
outside the scope of the ordinary duties of a Director, the Company may remunerate such Director either by a fixed sum or by a percentage
of profits or otherwise as may be determined by a resolution passed at a meeting of the Directors and such remuneration may be either
in addition to or in substitution for any other remuneration to which he may be entitled as a Director.

78. No shareholding qualification for Directors shall be required. A Director (whether or not a member of
the Company) shall be entitled to attend and speak at general meetings.

79. Unless the Company otherwise directs, a Director of the Company may be or become a Director or other officer
of, or otherwise interested in, any company promoted by the Company or in which the Company may be interested as Holder or otherwise,
and no such Director shall be accountable to the Company for any remuneration or other benefits received by him as a Director or officer
of, or from his interest in, such other company.

**BORROWING POWERS**

80. Subject to the Acts, the Directors may exercise all the powers of the Company to borrow or raise money,
and to mortgage or charge its undertaking, property, assets and uncalled capital or any part thereof and to issue debentures, debenture
stock and other securities whether outright or as collateral security for any debt, liability or obligation of the Company or of any third
party, without any limitation as to amount.

**POWERS AND DUTIES OF THE DIRECTORS**

81. The business of the Company shall be managed by the Directors, who may pay all expenses incurred in promoting
and registering the Company and may exercise all such powers of the Company as are not, by the Acts or by these articles, required to
be exercised by the Company in general meeting, subject, nevertheless, to any of these articles and to the provisions of the Acts.

82. The Directors may from time to time and at any time by power of attorney appoint any company, firm or
person or body of persons, whether nominated directly or indirectly by the Directors, to be the attorney or attorneys of the Company for
such purposes and with such powers, authorities and discretions (not exceeding those vested in or exercisable by the Directors under these
articles) and for such period and subject to such conditions as they may think fit, and any such power of attorney may contain such provisions
for the protection of persons dealing with any such attorney as the Directors may think fit, and may also authorise any such attorney
to delegate all or any of the powers, authorities and discretions vested in him.

83. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A Director who is in any way, whether directly or indirectly, interested in a contract or proposed contract
with the Company shall declare the nature of his interest at a meeting of the Directors in accordance with the Acts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A Director may vote in respect of any contract, appointment or arrangement in which he is interested,
and he shall be counted in the quorum present at the meeting.

84. As recognised by section 228(1)(e) of the Act, the Directors may agree to restrict their power to
exercise an independent judgement but only where this has been approved by a resolution of the board of directors of the Company.

85. A Director may hold and be remunerated in respect of any other office or place of profit under the Company
or any other company in which the Company may be interested (other than the office of auditor of the Company or any subsidiary thereof)
in conjunction with his office of Director for such period and on such terms as to remuneration and otherwise as the Directors may determine,
and no Director or intending Director shall be disqualified by his office from contracting or being interested, directly or indirectly,
in any contract or arrangement with the Company or any such other company either with regard to his tenure of any such other office or
place of profit or as vendor, purchaser or otherwise nor shall any Director so contracting or being so interested be liable to account
to the Company for any profits and advantages accruing to him from any such contract or arrangement by reason of such Director holding
that office or of the fiduciary relationship thereby established.

86. The Directors may exercise the voting powers conferred by shares of any other company held or owned by
the Company in such manner in all respects as they think fit and in particular they may exercise their voting powers in favour of any
resolution appointing the Directors or any of them as Directors or officers of such other company or providing for the payment of remuneration
or pensions to the Directors or officers of such other company.

87. Any Director may act by himself or his firm in a professional capacity for the Company, and he or his
firm shall be entitled to remuneration for professional services as if he were not a Director, but nothing herein contained shall authorise
a Director or his firm to act as auditor to the Company.

88. All cheques, promissory notes, drafts, bills of exchange and other negotiable instruments and all receipts
for money paid to the Company shall be signed, drawn, accepted, endorsed or otherwise executed, as the case may be, by such person or
persons and in such manner as the Directors shall from time to time by resolution determine.

89. The Directors shall cause minutes to be made in books provided for the purpose of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all appointments of officers made by the Directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the names of the Directors present at each meeting of the Directors and of any committee of the Directors;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all resolutions and proceedings at all meetings of the Company and of the Directors and of committees
of Directors.

90. The Directors may procure the establishment and maintenance of or participate in, or contribute to any
non-contributory or contributory pension or superannuation fund, scheme or arrangement or life assurance scheme or arrangement for the
benefit of, and pay, provide for or procure the grant of donations, gratuities, pensions, allowances, benefits or emoluments to any persons
(including Directors or other officers) who are or shall have been at any time in the employment or service of the Company or of any company
which is or was a subsidiary of the Company or of the predecessor in business of the Company or any such subsidiary or holding Company
and the spouses, civil partners, widows, widowers, families, relatives or dependants of any such persons. The Directors may also procure
the establishment and subsidy of or subscription to and support of any institutions, associations, clubs, funds or trusts calculated to
be for the benefit of any such persons as aforesaid or otherwise to advance the interests and wellbeing of the Company or of any such
other Company as aforesaid, or its members, and payments for or towards the insurance of any such persons as aforesaid and subscriptions
or guarantees of money for charitable or benevolent objects or for any exhibition or for any public, general or useful object. Provided
that any Director shall be entitled to retain any benefit received by him under this article, subject only, where the Acts require, to
disclosure to the members and the approval of the Company in general meeting.

**DISQUALIFICATION OF DIRECTORS**

91. The office of a Director shall be vacated ipso facto if the Director:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) is restricted or disqualified to act as a Director under the Acts; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) resigns his office by notice in writing to the Company or in writing offers to resign and the Directors
resolve to accept such offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) is requested to resign in writing by not less than three quarters of the other Directors; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) is removed from office under article 95.

**APPOINTMENT, ROTATION AND REMOVAL OF DIRECTORS**

92. At every annual general meeting of the Company, all of the Directors shall retire from office unless re-elected
by Ordinary Resolution at the annual general meeting. A Director retiring at a meeting shall retain office until the close or adjournment
of the meeting.

93. If, before the expiration of his or her term of office, a Director should be replaced for whatever reason,
the term of office of the newly elected member of the Board shall expire at the end of the term of office of his or her predecessor.

94. The Company may from time to time by Special Resolution increase or reduce the minimum or maximum number
of Directors as set out in article 75, provided however that if a majority of the Board makes a recommendation to the members to change
the minimum or maximum number of Directors, then an Ordinary Resolution to increase or reduce such minimum or maximum number shall be
required.

95. The Company may, by Ordinary Resolution, of which notice has been given in accordance with the Acts, remove
any Director before the expiration of his period of office notwithstanding anything in these articles or in any agreement between the
Company and such Director. Such removal shall be without prejudice to any claim such Director may have for damages for breach of any contract
of service between him and the Company.

96. The Company may, by Ordinary Resolution, appoint another person in place of a Director removed from office
under article 95 and without prejudice to the powers of the Directors under article 75 the Company in general meeting by Ordinary Resolution
may appoint any person to be a Director either to fill a casual vacancy or as an additional Director, subject to the maximum number of
Directors set out in article 75.

97. The Directors may appoint a person who is willing to act to be a Director, either to fill a vacancy or
as an additional Director, provided that the appointment does not cause the number of Directors to exceed any number fixed by or in accordance
with these articles as the maximum number of Directors.

98. The Directors are not entitled to appoint alternate directors.

99. The Directors may appoint any person to fill the following positions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Chairman of the Board:

If the Directors have elected a Director to be the Chairman, the Chairman shall preside at all meetings of the Board and at general meetings of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Secretary:

It shall be the duty of the Secretary to make and keep records of the votes, doings and proceedings of all meetings of the members and Board of the Company, and of its Committees, and to authenticate records of the Company. The Secretary shall be appointed by the Directors for such term, at such remuneration and upon such conditions as they may think fit; and any Secretary so appointed may be removed by them. A provision of the Acts or these articles requiring or authorising a thing to be done by or to a Director and the Secretary shall not be satisfied by its being done by or to the same person acting both as Director and as, or in place of, the Secretary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Such other officers as the Directors may, from time to time, determine, including but not limited to,
chief executive officer, president, vice president, vice chairman, assistant secretary, Treasurer, controller and assistant treasurer.

The powers and duties of all other officers are at all times subject to the control of the Directors, and any other officer may be removed from that office at any time at the pleasure of the Board.

In addition to the Board's power to delegate to committees pursuant to article 104, the Board may delegate any of its powers to any individual Director or member of the management of the Company or any of its subsidiaries as it sees fit; any such individual shall, in the exercise of the powers so delegated, conform to any regulations that may be imposed on them by the Board.

**PROCEEDINGS OF DIRECTORS**

100. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors may meet together for the dispatch of business, adjourn and otherwise regulate their meetings
as they may think fit. The quorum necessary for the transaction of the business of the Directors shall be a majority of the Directors
in office at the time when the meeting is convened. Questions arising at any meeting shall be decided by a majority of votes. Each director
present and voting shall have one vote.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any Director may participate in a meeting of the Directors by means of telephonic or other such communication
whereby all persons participating in the meeting can hear each other speak, and participation in a meeting in this manner shall be deemed
to constitute presence in person at such meeting and any director may be situated in any part of the world for any such meeting.

101. The Chairman or a majority of the Directors may, and the Secretary on the requisition of the Chairman
or a majority of the Directors shall, at any time summon a meeting of the Directors. Any provision of an enactment permitting the Secretary
to summon a meeting of the Directors on the requisition of a Director acting alone shall not apply to the Company.

102. The continuing Directors may act notwithstanding any vacancy in their number but, if and so long as their
number is reduced below the number fixed by or pursuant to these articles as the minimum number of Directors, the continuing Directors
or Director may act for the purpose of increasing the number of Directors to that number or of summoning a general meeting of the Company
but for no other purpose.

103. The Directors may elect a Chairman of their meetings and determine the period for which he is to hold
office. Any Director may be elected no matter by whom he was appointed but if no such Chairman is elected, or if at any meeting the Chairman
is not present within five minutes after the time appointed for holding the same, the Directors present may choose one of their number
to be Chairman of the meeting.

104. The Board may from time to time designate committees of the Board, with such powers and duties as the
Board may decide to confer on such committees (including the power to sub-delegate), and shall, for those committees and any others provided
for herein, elect a director or directors to serve as the member or members, designating, if it desires, other directors as alternate
members who may replace any absent or disqualified member at any meeting of the committee. Adequate provision shall be made for notice
to members of all meetings; a majority of the members shall constitute a quorum unless the committee shall consist of one or two members,
in which event one member shall constitute a quorum; and all matters shall be determined by a majority vote of the members present. Action
may be taken by any committee without a meeting if all members thereof consent thereto in writing, and the writing or writings are filed
with the minutes of the proceedings of such committees.

105. A committee may elect a chairman of its meeting. If no such chairman is elected, or if at any meeting
the chairman is not present within five minutes after the time appointed for holding the same, the members present may choose one of their
number to be chairman of the meeting.

106. All acts done by any meeting of the Directors or of a committee of Directors or by any person acting as
a Director shall, notwithstanding that it be afterwards discovered that there was some defect in the appointment of any such Director
or person acting as aforesaid, or that they or any of them were disqualified, be as valid as if every such person had been duly appointed
and was qualified to be a Director.

107. Notwithstanding anything in these articles or in the Acts which might be construed as providing to the
contrary, notice of every meeting of the Directors shall be given to all Directors either by mail not less than 48 hours before the date
of the meeting, by telephone, email, or any other electronic means on not less than 24 hours' notice, or on such shorter notice
as person or persons calling such meeting may deem necessary or appropriate and which is reasonable in the circumstances. Any director
may waive any notice required to be given under these articles, and the attendance of a director at a meeting shall be deemed to be a
waiver by such Director.

108. A resolution or other document in writing (in electronic form or otherwise) signed (whether by electronic
signature, advanced electronic signature or otherwise as approved by the Directors) by (a) all of the Directors entitled to receive
notice of a meeting of Directors or of a committee of Directors or (b) a majority of the Directors where notice in accordance with
article 107 of the resolution or other document in writing has been given to all Directors entitled to receive notice of a meeting of
Directors or of a committee of Directors, shall be as valid as if it had been passed at a meeting of Directors or (as the case may be)
a committee of Directors duly convened and held, and may consist of several documents in the like form each signed by one or more Directors,
and such resolution or other document or documents when duly signed may be delivered or transmitted (unless the Directors shall otherwise
determine either generally or in any specific case) by facsimile transmission, electronic mail or some other similar means of transmitting
the contents of documents.

**THE SEAL**

109. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Directors shall ensure that the Seal (including any official securities seal kept pursuant to the
Acts) shall be used only by the authority of the Directors or of a committee authorised by the Directors and that every instrument to
which the seal shall be affixed shall be signed by a Director or some other person appointed by the Directors for that purpose.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Company may have an official seal for use in any place abroad.

**DIVIDENDS AND RESERVES**

110. The Company in general meeting may declare dividends, but no dividends shall exceed the amount recommended
by the Directors.

111. The Directors may from time to time pay to the members such interim dividends as appear to the Directors
to be justified by the profits of the Company.

112. No dividend or interim dividend shall be paid otherwise than in accordance with the provisions of the
Acts.

113. The Directors may, before recommending any dividend, set aside out of the profits of the Company such
sums as they think proper as a reserve or reserves which shall, at the discretion of the Directors, be applicable for any purpose to which
the profits of the Company may be properly applied and pending such application may at the like discretion either be employed in the business
of the Company or be invested in such investments as the Directors may lawfully determine. The Directors may also, without placing the
same to reserve, carry forward any profits which they may think it prudent not to distribute.

114. Subject to the rights of persons, if any, entitled to shares with special rights as to dividend, all dividends
shall be declared and paid according to the amounts paid or credited as paid on the shares in respect whereof the dividend is paid. All
dividends shall be apportioned and paid proportionately to the amounts paid or credited as paid on the shares during any portion or portions
of the period in respect of which the dividend is paid; but if any share is issued on terms providing that it shall rank for dividend
as from a particular date, such share shall rank for dividend accordingly.

115. The Directors may deduct from any dividend payable to any member all sums of money (if any) immediately
payable by him to the Company in relation to the shares of the Company.

116. Any general meeting declaring a dividend or bonus and any resolution of the Directors declaring an interim
dividend may direct payment of such dividend or bonus or interim dividend wholly or partly by the distribution of specific assets and
in particular of paid up shares, debentures or debenture stocks of any other company or in any one or more of such ways, and the Directors
shall give effect to such resolution, and where any difficulty arises in regard to such distribution, the Directors may settle the same
as they think expedient, and in particular may fix the value for distribution of such specific assets or any part thereof and may determine
that cash payments shall be made to any members upon the footing of the value so fixed, in order to adjust the rights of all the parties,
and may vest any such specific assets in trustees as may seem expedient to the Directors.

117. Any dividend or other moneys payable in respect of any share may be paid by cheque or warrant sent by
post, at the risk of the person or persons entitled thereto, to the registered address of the Holder or, where there are joint Holders,
to the registered address of that one of the joint Holders who is first named on the members Register or to such person and to such address
as the Holder or joint Holders may in writing direct. Every such cheque or warrant shall be made payable to the order of the person to
whom it is sent and payment of the cheque or warrant shall be a good discharge to the Company. Any joint Holder or other person jointly
entitled to a share as aforesaid may give receipts for any dividend or other moneys payable in respect of the share. Any such dividend
or other distribution may also be paid by any other method (including payment in a currency other than €, electronic funds transfer,
direct debit, bank transfer or by means of a relevant system) which the Directors consider appropriate and any member who elects for such
method of payment shall be deemed to have accepted all of the risks inherent therein. The debiting of the Company's account in respect
of the relevant amount shall be evidence of good discharge of the Company's obligations in respect of any payment made by any such
methods.

118. No dividend shall bear interest against the Company.

119. If the Directors so resolve, any dividend which has remained unclaimed for twelve years from the date
of its declaration shall be forfeited and cease to remain owing by the Company. The payment by the Directors of any unclaimed dividend
or other moneys payable in respect of a share into a separate account shall not constitute the Company a trustee in respect thereof.

**SHAREHOLDER RIGHTS PLAN**

120. Subject to applicable law, the Directors are hereby expressly authorised to adopt any shareholder rights
plan (a "**Rights Plan** "), upon such terms and conditions as the Directors deem expedient and in the best interests of
the Company, including, without limitation, where the Directors are of the opinion that a Rights Plan could grant them additional time
to gather relevant information or pursue strategies in response to or anticipation of, or could prevent, a potential change of control
of the Company or accumulation of shares in the Company or interests therein.

121. The Directors may exercise any power of the Company to grant rights (including approving the execution
of any documents relating to the grant of such rights) to subscribe for ordinary shares or preferred shares in the share capital of the
Company ()"**Rights**") in accordance with the terms of a Rights Plan.

122. For the purposes of effecting an exchange of Rights for ordinary shares or preferred shares in the share
capital of the Company (an "**Exchange** "), the Directors may:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) resolve to capitalise an amount standing to the credit of the reserves of the Company (including, but
not limited to, the share premium account, capital redemption reserve, any undenominated capital and profit and loss account), whether
or not available for distribution, being an amount equal to the nominal value of the ordinary shares or preferred shares which are to
be exchanged for the Rights; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) apply that sum in paying up in full ordinary shares or preferred shares and allot such shares, credited
as fully paid, to those holders of Rights who are entitled to them under an Exchange effected pursuant to the terms of a Rights Plan.

123. The duties of the Directors to the Company under applicable law, including, but not limited to, the Acts
and common law, are hereby deemed amended and modified such that the adoption of a Rights Plan and any actions taken thereunder by the
Directors (if so approved by the Directors) shall be deemed to constitute an action in the best interests of the Company in all circumstances,
and any such action shall be deemed to be immediately confirmed, approved and ratified.

**ACCOUNTING RECORDS**

124. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall cause to be kept adequate accounting records, whether in the form of documents, electronic
form or otherwise, that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) correctly record and explain the transactions of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) will at any time enable the assets, liabilities, financial position and profit or loss of the Company
to be determined with reasonable accuracy;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) will enable the Directors to ensure that any financial statements of the Company complies with the requirements
of the Acts; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) will enable those financial statements of the Company to be readily and properly audited.

The accounting records shall be kept on a continuous and consistent basis and entries therein shall be made in a timely manner and be consistent from year to year. Adequate accounting records shall be deemed to have been maintained if they comply with the provisions of the Act and explain the Company's transactions and facilitate the preparation of financial statements that give a true and fair view of the assets, liabilities, financial position and profit and loss of the Company and, if relevant, the Group and include any information and returns referred to in section 283(2) of the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The accounting records shall be kept at the Office or, subject to the provisions of the Acts, at such
other place as the Directors think fit and shall be open at all reasonable times to the inspection of the Directors.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) In accordance with the provisions of the Acts, the Directors shall cause to be prepared and to be laid
before the annual general meeting of the Company from time to time such statutory financial statements of the Company and reports as are
required by the Acts to be prepared and laid before such meeting.

125. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company may send by post, electronic mail or any other means of electronic communication:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Company's statutory financial statements,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the directors' report, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the statutory auditors' report and copies of those documents shall also be treated for the purposes
of the Acts, as sent to a person where:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) the Company and that person have agreed to his or her having access to the documents on a website (instead
of their being sent to him or her);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) the documents are documents to which that agreement applies; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) that person is notified, in a manner for the time being agreed for the purpose between that person and
the company, of –

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(I) the publication of the documents on a website,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(II) the address of that website, and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(III) the place on that website where the documents may be accessed and how they may be accessed.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The documents listed at articles 125(a)(i) to 125(a)(iii) shall be treated as sent to a person
not less than 21 days before the date of a meeting if, and only if –

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the documents are published on the website throughout a period beginning at least 21 days before the date
of the meeting and ending with the conclusion of the meeting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the notification given for the purposes of paragraph (c) is given not less than 21 days before the
date of the meeting.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Nothing shall invalidate the proceedings of a meeting where—

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) any documents that are required to be published are published for a part, but not all, of the 21 day period
mentioned above; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) the failure to publish those documents throughout that period is wholly attributable to circumstances
which it would not be reasonable to have expected the company to prevent or avoid.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Where copies of documents are sent out pursuant to this article over a period of days, references elsewhere
in the Acts to the day on which those copies are sent out shall be read as references to the last day of that period.

126. The Directors shall determine from time to time whether and to what extent and at what times and places
and under what conditions or regulations the accounts and books of the Company or any of them shall be open to the inspection of members,
not being Directors, and no member (not being a Director) shall have any right of inspecting any account or book or document of the Company
except as conferred by the Acts or authorised by the Directors or by the Company in general meeting. No member shall be entitled to require
discovery of or any information respecting any detail of the Company's trading, or any matter which is or may be in the nature of
a trade secret, mystery of trade, or secret process which may relate to the conduct of the business of the Company and which in the opinion
of the Directors it would be inexpedient in the interests of the members of the Company to communicate to the public.

**CAPITALISATION OF PROFITS**

127. Without prejudice to any powers conferred on the Directors as aforesaid and subject to the Directors'
authority to issue and allot shares under articles 8(c) and 8(d), the Directors or any duly appointed committee thereof may resolve
to capitalise any part of the amount for the time being standing to the credit of any of the Company's reserve accounts (including,
but not limited to, the capital redemption reserve, capital conversion reserve, profit and loss account, share premium account, any undenominated
capital or other reserve account not available for distribution) or to the credit of the profit and loss account which is not available
for distribution by applying such sum in paying up in full unissued shares to be allotted as fully paid bonus shares to those members
of the Company who would have been entitled to that sum if it were distributable and had been distributed by way of dividend (and in the
same proportions). Whenever such a resolution is passed in pursuance of this article, the Directors shall make all appropriations and
applications of the amounts resolved to be capitalised thereby and all allotments and issues of fully paid shares or debentures, if any.
Any such capitalisation will not require approval or ratification by the members of the Company.

128. Without prejudice to any powers conferred on the Directors by these articles, and subject to the Directors'
authority to issue and allot shares under articles 8(c) and 8(d), the Directors or any duly appointed committee thereof may resolve
that any sum for the time being standing to the credit of any of the Company's reserve accounts (including any reserve account available
for distribution) or to the credit of the profit and loss account be capitalised and applied on behalf of the members who would have been
entitled to receive that sum if it had been distributed by way of dividend (and in the same proportions) either in or towards paying up
amounts for the time being unpaid on any shares held by them respectively, or in paying up in full unissued shares or debentures of the
Company of a nominal amount equal to the sum capitalised (such shares or debentures to be allotted and distributed and credited as fully
paid up to and amongst such Holders in the proportions aforesaid) or partly in one way and partly in another, so, however, that the only
purposes for which sums standing to the credit of the capital redemption reserve, the capital conversion reserve or the share premium
account or any undenominated capital shall be applied shall be those permitted by the Acts.

129. The Directors may from time to time at their discretion, subject to the provisions of the Acts and, in
particular, to their being duly authorised pursuant to the Acts, to allot the relevant shares, offer to the Holders of ordinary shares
the right to elect to receive in lieu of any dividend or proposed dividend or part thereof an allotment of additional ordinary shares
credited as fully paid. In any such case the following provisions shall apply.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) The basis of allotment shall be determined by the Directors so that, as nearly as may be considered convenient
in the Directors' absolute discretion, the value (calculated by reference to the average quotation) of the additional ordinary shares
(excluding any fractional entitlement) to be allotted in lieu of any amount of dividend shall equal such amount. For such purpose the
 "average quotation" of an ordinary share shall be the average of the five amounts resulting from determining whichever of
the following ((A), (B) or (C) specified below) in respect of ordinary shares shall be appropriate for each of the first five
business days on which ordinary shares are quoted "ex" the relevant dividend and as determined from the information published
by the stock exchange (if any) to which the Company's ordinary shares are admitted to trading reporting the business done on each
of these five business days:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) if there shall be more than one dealing reported for the day, the average of the prices at which such
dealings took place; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) if there shall be only one dealing reported for the day, the price at which such dealing took place; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) if there shall not be any dealing reported for the day, the average of the closing bid and offer prices
for the day;

and if there shall be only a bid (but not an offer) or an offer (but not a bid) price reported, or if there shall not be any bid or offer price reported, for any particular day then that day shall not count as one of the said five business days for the purposes of determining the average quotation. If the means of providing the foregoing information as to dealings and prices by reference to which the average quotation is to be determined is altered or is replaced by some other means, then the average quotation shall be determined on the basis of the equivalent information published by the relevant authority in relation to dealings on the stock exchange (if any) to which the Company's ordinary shares are admitted to trading.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) The Directors shall give notice in writing (whether in electronic form or otherwise) to the Holders of
ordinary shares of the right of election offered to them and shall send with or following such notice forms of election and specify the
procedure to be followed and the place at which, and the latest date and time by which, duly completed forms of election must be lodged
in order to be effective. The Directors may also issue forms under which Holders may elect in advance to receive new ordinary shares instead
of dividends in respect of future dividends not yet declared (and, therefore, in respect of which the basis of allotment shall not yet
have been determined).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) The dividend (or that part of the dividend in respect of which a right of election has been offered) shall
not be payable on ordinary shares in respect of which the right of election as aforesaid has been duly exercised (the "**Subject Ordinary Shares**") and in lieu thereof additional ordinary shares (but not any fraction of a share) shall be allotted to the
Holders of the Subject Ordinary Shares on the basis of allotment determined aforesaid and for such purpose the Directors shall capitalise,
out of such of the sums standing to the credit of any of the Company's reserves (including any capital redemption reserve fund or
share premium account) or to the credit of the profit and loss account as the Directors may determine, a sum equal to the aggregate nominal
amount of additional ordinary shares to be allotted on such basis and apply the same in paying up in full the appropriate number of unissued
ordinary shares for allotment and distribution to and amongst the holders of the Subject Ordinary Shares on such basis.

130. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The additional ordinary shares allotted pursuant to articles 127, 128 or 129 shall rank pari passu in
all respects with the fully paid ordinary shares then in issue save only as regards participation in the relevant dividend or share election
in lieu.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Directors may do all acts and things considered necessary or expedient to give effect to any capitalisation
pursuant to articles 127, 128 or 129 with full power to the Directors to make such provisions as they think fit where shares would otherwise
have been distributable in fractions (including provisions whereby, in whole or in part, fractional entitlements are disregarded and the
benefit of fractional entitlements accrues to the Company rather than to the holders concerned). The Directors may authorise any person
to enter on behalf of all the Holders interested into an agreement with the Company providing for such capitalisation and matters incidental
thereto and any agreement made under such authority shall be effective and binding on all concerned.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Directors may on any occasion determine that rights of election shall not be offered to any Holders
of ordinary shares who are citizens or residents of any territory where the making or publication of an offer of rights of election or
any exercise of rights of election or any purported acceptance of the same would or might be unlawful, and in such event the provisions
aforesaid shall be read and construed subject to such determination.

**AUDIT**

131. Statutory auditors shall be appointed and their duties regulated in accordance with the Acts.

**NOTICES**

132. Any notice to be given, served, sent or delivered pursuant to these articles shall be in writing (whether
in electronic form or otherwise).

133. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) A notice or document to be given, served, sent or delivered in pursuance of these articles may be given
to, served on or delivered to any member by the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) by handing same to him or his authorised agent;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) by leaving the same at his registered address;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) by sending the same by the post in a pre-paid cover addressed to him at his registered address;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) by sending the same to the member by electronic means, to the maximum extent permitted by any optional
provisions of the Acts notwithstanding article 1 to the address of the member notified to the Company by the member for such purpose (or
if not so notified, then to the address of the member last known to the Company); or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) by sending, with the consent of the member, the same by means of electronic mail or other means of electronic
communication approved by the Directors, with the consent of the member, to the address of the member notified to the Company by the member
for such purpose (or if not so notified, then to the address of the member last known to the Company).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) For the purposes of these articles and the Act, a document shall be deemed to have been sent to a member
if a notice is given, served, sent or delivered to the member and the notice specifies the website or hotlink or other electronic link
at or through which the member may obtain a copy of the relevant document.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Where a notice or document is given, served or delivered pursuant to sub-paragraph (a)(i) or (ii) of
this article, the giving, service or delivery thereof shall be deemed to have been effected at the time the same was handed to the member
or his authorised agent, or left at his registered address (as the case may be).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Where a notice or document is given, served or delivered pursuant to sub-paragraph (a)(iii) of this
article, the giving, service or delivery thereof shall be deemed to have been effected at the expiration of twenty-four hours after the
cover containing it was posted. In proving service or delivery it shall be sufficient to prove that such cover was properly addressed,
stamped and posted.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Where a notice or document is given, served or delivered pursuant to sub-paragraph (a)(iv) or (a)(v) of
this article, the giving, service or delivery thereof shall be deemed to have been effected at the expiration of 48 hours after despatch.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) Every legal personal representative, committee, receiver, curator bonis or other legal curator, assignee
in bankruptcy, examiner or liquidator of a member shall be bound by a notice given as aforesaid if sent to the last registered address
of such member, or, in the event of notice given or delivered pursuant to sub-paragraph (a)(iv) or (a)(v) of this article, if
sent to the address notified by the Company by the member for such purpose notwithstanding that the Company may have notice of the death,
lunacy, bankruptcy, liquidation or disability of such member.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) Notwithstanding anything contained in this article the Company shall not be obliged to take account of
or make any investigations as to the existence of any suspension or curtailment of postal services within or in relation to all or any
part of any jurisdiction or other area other than Ireland.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) Any requirement in these articles for the consent of a member in regard to the receipt by such member
of electronic mail or other means of electronic communications approved by the Directors, including the receipt of the Company's
audited accounts and the directors' and auditor's reports thereon, shall be deemed to have been satisfied where the Company
has written to the member informing him/her of its intention to use electronic communications for such purposes and the member has not,
within four weeks of the issue of such notice, served an objection in writing on the Company to such proposal. Where a member has given,
or is deemed to have given, his/her consent to the receipt by such member of electronic mail or other means of electronic communications
approved by the Directors, he/she may revoke such consent at any time by requesting the Company to communicate with him/her in documented
form; provided, however, that such revocation shall not take effect until five days after written notice of the revocation is received
by the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) Without prejudice to the provisions of sub-paragraphs (a)(i) and (a)(ii) of this article, if
at any time by reason of the suspension or curtailment of postal services in any territory, the Company is unable effectively to convene
a general meeting by notices sent through the post, a general meeting may be convened by a public announcement and such notice shall be
deemed to have been duly served on all members entitled thereto at noon on the day on which the said public announcement is made. In any
such case the Company shall put a full copy of the notice of the general meeting on its website.

134. A notice may be given by the Company to the joint Holders of a share by giving the notice to the joint
Holder whose name stands first in the Register in respect of the share and notice so given shall be sufficient notice to all the joint
Holders.

135. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Every person who becomes entitled to a share shall before his name is entered in the Register in respect
of the share, be bound by any notice in respect of that share which has been duly given to a person from whom he derives his title.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) A notice may be given by the Company to the persons entitled to a share in consequence of the death or
bankruptcy of a member by sending or delivering it, in any manner authorised by these articles for the giving of notice to a member, addressed
to them at the address, if any, supplied by them for that purpose. Until such an address has been supplied, a notice may be given in any
manner in which it might have been given if the death or bankruptcy had not occurred.

136. The signature (whether electronic signature, an advanced electronic signature or otherwise) to any notice
to be given by the Company may be written (in electronic form or otherwise) or printed.

137. A member present, either in person or by proxy, at any meeting of the Company or the Holders of any class
of shares in the Company shall be deemed to have received notice of the meeting and, where requisite, of the purposes for which it was
called.

**WINDING UP**

138. If the Company shall be wound up and the assets available for distribution among the members as such shall
be insufficient to repay the whole of the paid up or credited as paid up share capital, such assets shall be distributed so that, as nearly
as may be, the losses shall be borne by the members in proportion to the capital paid up or credited as paid up at the commencement of
the winding up on the shares held by them respectively. And if in a winding up the assets available for distribution among the members
shall be more than sufficient to repay the whole of the share capital paid up or credited as paid up at the commencement of the winding
up, the excess shall be distributed among the members in proportion to the capital at the commencement of the winding up paid up or credited
as paid up on the said shares held by them respectively. Provided that this article shall not affect the rights of the Holders of shares
issued upon special terms and conditions.

139. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In case of a sale by the liquidator under the Act, the liquidator may by the contract of sale agree so
as to bind all the members for the allotment to the members directly of the proceeds of sale in proportion to their respective interests
in the Company and may further by the contract limit a time at the expiration of which obligations or shares not accepted or required
to be sold shall be deemed to have been irrevocably refused and be at the disposal of the Company, but so that nothing herein contained
shall be taken to diminish, prejudice or affect the rights of dissenting members conferred by the said section.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The power of sale of the liquidator shall include a power to sell wholly or partially for debentures,
debenture stock, or other obligations of another company, either then already constituted or about to be constituted for the purpose of
carrying out the sale.

140. If the Company is wound up, the liquidator, with the sanction of a Special Resolution and any other sanction
required by the Acts, may divide among the members in specie or kind the whole or any part of the assets of the Company (whether they
shall consist of property of the same kind or not), and, for such purpose, may value any assets and determine how the division shall be
carried out as between the members or different classes of members. The liquidator, with the like sanction, may vest the whole or any
part of such assets in trustees upon such trusts for the benefit of the contributories as, with the like sanction, he determines, but
so that no member shall be compelled to accept any assets upon which there is a liability.

**INDEMNITY**

141. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Subject to the provisions of and so far as may be admitted by the Acts, every Director and the Secretary
of the Company shall be entitled to be indemnified by the Company against all costs, charges, losses, expenses and liabilities incurred
by him in the execution and discharge of his duties or in relation thereto including any liability incurred by him in defending any proceedings,
civil or criminal, which relate to anything done or omitted or alleged to have been done or omitted by him as an officer or employee of
the Company and in which judgement is given in his favour (or the proceedings are otherwise disposed of without any finding or admission
of any material breach of duty on his part) or in which he is acquitted or in connection with any application under any statute for relief
from liability in respect of any such act or omission in which relief is granted to him by the Court.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Directors shall have power to purchase and maintain for any Director, the Secretary or any employees
of the Company or its subsidiaries insurance against any such liability as referred to in the Acts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As far as is permissible under the Acts, the Company shall indemnify any current or former executive officer
of the Company (excluding any present or former Directors of the Company or Secretary of the Company), or any person who is serving or
has served at the request of the Company as a director or executive officer of another company, joint venture, trust or other enterprise,
including any Company subsidiary (each individually, a "**Covered Person** "), against any expenses, including attorney's
fees, judgements, fines, and amounts paid in settlement actually and reasonably incurred by him or her in connection with any threatened,
pending, or completed action, suit or proceeding, whether civil, criminal, administrative or investigative, to which he or she was or
is threatened to be made a party, or is otherwise involved (a "**proceeding** "), by reason of the fact that he or she is
or was a Covered Person; provided, however, that this provision shall not indemnify any Covered Person against any liability arising out
of (a) any fraud or dishonesty in the performance of such Covered Person's duty to the Company, or (b) such Covered Party's
conscious, intentional or wilful breach of the obligation to act honestly and in good faith with a view to the best interests of the Company.
Notwithstanding the preceding sentence, this section shall not extend to any matter which would render it void pursuant to the Acts or
to any person holding the office of auditor in relation to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In the case of any threatened, pending or completed action, suit or proceeding by or in the name of the
Company, the Company shall indemnify each Covered Person against expenses, including attorneys' fees, actually and reasonably incurred
in connection with the defence or the settlement thereof, except no indemnification shall be made in respect of any claim, issue or matter
as to which such person shall have been adjudged to be liable for fraud or dishonesty in the performance of his or her duty to the Company,
or for conscious, intentional or wilful breach of his or her obligation to act honestly and in good faith with a view to the best interests
of the Company, unless and only to the extent that the High Court of Ireland or the court in which such action or suit was brought shall
determine upon application that despite the adjudication of liability, but in view of all the circumstances of the case, such Covered
Person is fairly and reasonably entitled to indemnity for such expenses as the court shall deem proper. Notwithstanding the preceding
sentence, this section shall not extend to any matter which would render it void pursuant to the Acts or to any person holding the office
of auditor in relation to the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Any indemnification under this article (unless ordered by a court) shall be made by the Company only as
authorised in the specific case upon a determination that indemnification of the Covered Person is proper in the circumstances because
such person has met the applicable standard of conduct set forth in this article. Such determination shall be made by any person or persons
having the authority to act on the matter on behalf of the Company. To the extent, however, that any Covered Person has been successful
on the merits or otherwise in defence of any proceeding, or in defence of any claim, issue or matter therein, such Covered Person shall
be indemnified against expenses (including attorneys' fees) actually and reasonably incurred by such person in connection therewith,
without necessity of authorisation in the specific case.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) As far as permissible under the Acts, expenses, including attorneys' fees, incurred in defending
any proceeding for which indemnification is permitted pursuant to this article shall be paid by the Company in advance of the final disposition
of such proceeding upon receipt by the Board of an undertaking by the particular indemnitee to repay such amount if it shall ultimately
be determined that he or she is not entitled to be indemnified by the Company pursuant to these articles.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) It being the policy of the Company that indemnification of the persons specified in this article shall
be made to the fullest extent permitted by law, the indemnification provided by this article shall not be deemed exclusive (a) of
any other rights to which those seeking indemnification or advancement of expenses may be entitled under these articles, any agreement,
any insurance purchased by the Company, vote of members or disinterested directors, or pursuant to the direction (however embodied) of
any court of competent jurisdiction, or otherwise, both as to action in his or her official capacity and as to action in another capacity
while holding such office, or (b) of the power of the Company to indemnify any person who is or was an employee or agent of the Company
or of another company, joint venture, trust or other enterprise which he or she is serving or has served at the request of the Company,
to the same extent and in the same situations and subject to the same determinations as are hereinabove set forth. As used in this article,
references to the "Company" include all constituent companies in a scheme of arrangement, consolidation or merger in which
the Company or a predecessor to the Company by scheme of arrangement, consolidation or merger was involved. The indemnification provided
by this article shall continue as to a person who has ceased to be a Covered Person and shall inure to the benefit of their heirs, executors,
and administrators.

**UNTRACED HOLDERS**

142. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company shall be entitled to sell at the best price reasonably obtainable any share or stock of a
member or any share or stock to which a person is entitled by transmission if and provided that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) for a period of twelve years (not less than three dividends having been declared and paid) no cheque or
warrant sent by the Company through the post in a prepaid letter addressed to the member or to the person entitled by transmission to
the share or stock at his address on the Register or other last known address given by the member or the person entitled by transmission
to which cheques and warrants are to be sent has been cashed and no communication has been received by the Company from the member or
the person entitled by transmission; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) at the expiration of the said period of twelve years the Company has given notice by advertisement in
a leading Dublin newspaper and a newspaper circulating in the area in which the address referred to in paragraph (a)(i) of this article
is located of its intention to sell such share or stock; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) the Company has not during the further period of three months after the date of the advertisement and
prior to the exercise of the power of sale received any communication from the member or person entitled by transmission.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) To give effect to any such sale the Company may appoint any person to execute as transferor an instrument
of transfer of such share or stock and such instrument of transfer shall be as effective as if it had been executed by the registered
Holder of or person entitled by transmission to such share or stock. The Company shall account to the member or other person entitled
to such share or stock for the net proceeds of such sale by carrying all monies in respect thereof to a separate account which shall be
a permanent debt of the Company and the Company shall be deemed to be a debtor and not a trustee in respect thereof for such member or
other person. Monies carried to such separate account may either be employed in the business of the Company or invested in such investments
(other than shares of the Company or its holding company if any) as the Directors may from time to time think fit.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) To the extent necessary in order to comply with any laws or regulations to which the Company is subject
in relation to escheatment, abandonment of property or other similar or analogous laws or regulations ()"**Applicable Escheatment Laws** "), the Company may deal with any share of any member and any unclaimed cash payments relating to such share in any manner
which it sees fit, including (but not limited to) transferring or selling such share and transferring to third parties any unclaimed cash
payments relating to such share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Company may only exercise the powers granted to it in sub-paragraph (a) above in circumstances
where it has complied with, or procured compliance with, the required procedures (as set out in the Applicable Escheatment Laws) with
respect to attempting to identify and locate the relevant member of the Company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) Any stock transfer form to be executed by the Company in order to sell or transfer a share pursuant to
sub-paragraph (a) may be executed in accordance with article 16(a).

**DESTRUCTION OF DOCUMENTS**

143. The Company may implement such document destruction policies as it so chooses in relation to any type
of documents (whether in paper, electronic or other formats), and in particular (without limitation to the foregoing) may destroy:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) any dividend mandate or any variation or cancellation thereof or any notification of change of name or
address, at any time after the expiry of two years from the date such mandate variation, cancellation or notification was recorded by
the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) any instrument of transfer of shares which has been registered, at any time after the expiry of six years
from the date of registration; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) any other document on the basis of which any entry in the Register was made, at any time after the expiry
of six years from the date an entry in the Register was first made in respect of it,

and it shall be presumed conclusively in favour of the Company that every share certificate (if any) so destroyed was a valid certificate duly and properly sealed and that every instrument of transfer so destroyed was a valid and effective instrument duly and properly registered and that every other document destroyed hereunder was a valid and effective document in accordance with the recorded particulars thereof in the books or records of the Company provided always that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the foregoing provisions of this article shall apply only to the destruction of a document in good faith
and without express notice to the Company that the preservation of such document was relevant to a claim;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) nothing contained in this article shall be construed as imposing upon the Company any liability in respect
of the destruction of any such document earlier than as aforesaid or in any case where the conditions of proviso (a) above are not
fulfilled; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) references in this article to the destruction of any document include references to its disposal in any
manner.

**BUSINESS COMBINATION**

144. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Notwithstanding anything to the contrary contained in these articles, the Company shall not engage in
any Business Combination with any Interested Holder for a period of three years following the time that such Holder became an Interested
Holder, unless:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) prior to such time the Directors approved either the Business Combination or the transaction which resulted
in the member becoming an Interested Holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) upon consummation of the transaction which resulted in the member becoming an Interested Holder, the Interested
Holder owned at least 85% of the voting shares of the Company outstanding at the time the transaction commenced, excluding for purposes
of determining the voting shares outstanding (but not the outstanding voting shares owned by the Interested Holder) those shares owned
(A) by persons who are directors and also officers and (B) employee shares plans in which employee participants do not have
the right to determine confidentially whether shares held subject to the plan will be tendered in a tender or exchange offer; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) at or subsequent to such time the Business Combination is approved by the Directors and authorised by
way of Special Resolution without the Interested Holder.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The Directors shall have the power and duty to determine, on the basis of information known to them after
reasonable inquiry, all facts necessary to determine compliance with this article, including, without limitation, (i) whether a Person
is an Interested Holder, (ii) the number of shares or other securities beneficially owned by any Person, (iii) whether a Person
is an Affiliate or Associate of another, and (iv) the fair market value of the Company's securities or securities of any subsidiary
of the Company, and the good faith determination of the Directors on such matters shall be conclusive and binding for all the purposes
of this article.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) As used in this article only, the term:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) "**Affiliate**" means a person that directly, or indirectly through one or more intermediaries,
controls or is controlled by, or is under common control with, another person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) "**Associate** ", when used to indicate a relationship with any person, means: (A) any
company, partnership, unincorporated association or other entity of which such person is a director, officer or partner or is, directly
or indirectly, the owner of 20% or more of any class of voting shares; (B) any trust or other estate in which such person has at
least a 20% beneficial interest or as to which such person serves as trustee or in a similar fiduciary capacity; and (C) any relative
or spouse of such person, or any relative of such spouse, who has the same residence as such person.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) "**Business Combination** ", when used in reference to any company and any Interested Holder
of such company, means:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) any scheme of arrangement, merger or consolidation of the Company or any direct or indirect majority-owned
subsidiary of the Company with (1) the Interested Holder, or (2) any other company, partnership, unincorporated association
or other entity if the scheme of arrangement, merger or consolidation is caused by the Interested Holder;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) any sale, lease, exchange, mortgage, pledge, transfer or other disposition (in one transaction or a series
of transactions), except proportionately as a member of such company, to or with the Interested Holder, whether as part of a dissolution
or otherwise, of assets of the Company or of any direct or indirect majority-owned subsidiary of the Company which assets have an aggregate
market value equal to 10% or more of either the aggregate market value of all the assets of the Company determined on a consolidated basis
or the aggregate market value of all the outstanding shares of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) any transaction which results in the issuance or transfer by the Company or by any direct or indirect
majority-owned subsidiary of the Company of any shares of the Company or of such subsidiary to the Interested Holder, except: (1) pursuant
to the exercise, exchange or conversion of securities exercisable for, exchangeable for or convertible into shares of such company or
any such subsidiary which securities were outstanding prior to the time that the Interested Holder became such; (2) pursuant to a
dividend or distribution paid or made, or the exercise, exchange or conversion of securities exercisable for, exchangeable for or convertible
into shares of such company or any such subsidiary which security is distributed, pro rata to all holders of a class or series of shares
of such company subsequent to the time the Interested Holder became such; (3) pursuant to an exchange offer by the Company to purchase
shares made on the same terms to all holders of said shares; or (4) any issuance or transfer of shares by the Company; provided however,
that in no case under items (3) and (4) of this subparagraph shall there be an increase in the Interested Holder's proportionate
share of the shares of any class or series of the Company or of the voting shares of the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(D) any transaction involving the Company or any direct or indirect majority-owned subsidiary of the Company
which has the effect, directly or indirectly, of increasing the proportionate share of the shares of any class or series, or securities
convertible into the shares of any class or series, of the Company or of any such subsidiary which is owned by the Interested Holder,
except as a result of immaterial changes due to fractional share adjustments or as a result of any purchase or redemption of any shares
of shares not caused, directly or indirectly, by the Interested Holder; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(E) any receipt by the Interested Holder of the benefit, directly or indirectly (except proportionately as
a member of such company), of any loans, advances, guarantees, pledges or other financial benefits (other than those expressly permitted
in subparagraphs (A)-(D) of this paragraph) provided by or through the Company or any direct or indirect majority-owned subsidiary.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iv) "**Control** ", including the terms "controlling", "controlled by"
and "under common control with", means the possession, directly or indirectly, of the power to direct or cause the direction
of the management and policies of a person, whether through the ownership of voting shares, by contract or otherwise. A person who is
the owner of 20% or more of the outstanding voting shares of any company, partnership, unincorporated association or other entity shall
be presumed to have control of such entity, in the absence of proof by a preponderance of the evidence to the contrary. Notwithstanding
the foregoing, a presumption of control shall not apply where such person holds voting shares, in good faith and not for the purpose of
circumventing this article, as an agent, bank, broker, nominee, custodian or trustee for one or more owners who do not individually or
as a group have control of such entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(v) "**Interested Holder**" means any Person, including its Affiliates and Associates (other
than the Company and any direct or indirect majority-owned subsidiary of the Company), that is, or was at any time within the three-year
period immediately prior to the date in question, the Owner of 15% or more of the outstanding voting shares of the Company; provided,
however, that the term "Interested Holder" shall not include any person whose ownership of shares in excess of the 15% limitation
set forth herein is the result of action taken solely by the Company; provided that such person shall be an Interested Holder if thereafter
such person acquires additional voting shares of the Company, except as a result of further corporate action not caused, directly or indirectly,
by such person. For the purpose of determining whether a person is an Interested Holder, the voting shares of the Company deemed to be
outstanding shall include shares deemed to be owned by the person through application of (viii) of this subsection but shall not
include any other unissued shares of such company which may be issuable pursuant to any agreement, arrangement or understanding, or upon
exercise of conversion rights, warrants or options, or otherwise.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vi) "**Person**" means any individual, company, partnership, unincorporated association or
other entity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(vii) "**Shares**" means, with respect to any company, capital shares and, with respect to any
other entity, any equity interest.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(viii) "**Voting shares**" means, with respect to any company, shares of any class or series entitled
to vote generally in the election of directors and, with respect to any entity that is not a company, any equity interest entitled to
vote generally in the election of the governing body of such entity. Every reference to a percentage of voting shares shall refer to such
percentage of the votes of such voting shares.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ix) "**Owner** ", including the terms "own" and "owned", when used with
respect to any Shares, means a person that individually or with or through any of its Affiliates or Associates:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(A) beneficially owns such Shares, directly or indirectly; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(B) has (1) the right to acquire such Shares (whether such right is exercisable immediately or only after
the passage of time) pursuant to any agreement, arrangement or understanding, or upon the exercise of conversion rights, exchange rights,
warrants or options, or otherwise; provided, however, that a person shall not be deemed the Owner of Shares tendered pursuant to a tender
or exchange offer made by such person or any of such person's affiliates or associates until such tendered Shares are accepted for
purchase or exchange; or (2) the right to vote such shares pursuant to any agreement, arrangement or understanding; provided, however,
that a person shall not be deemed the Owner of any Shares because of such person's right to vote such Shares if the agreement, arrangement
or understanding to vote such shares arises solely from a revocable proxy or consent given in response to a proxy or consent solicitation
made to 10 or more persons; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(C) has any agreement, arrangement or understanding for the purpose of acquiring, holding, voting (except
voting pursuant to a revocable proxy or consent as described in item (2) of subparagraph (B) of this paragraph), or disposing
of such Shares with any other person that beneficially owns, or whose Affiliates or Associates beneficially own, directly or indirectly,
such Shares.

**SCHEME OF ARRANGEMENT**

145. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) In this article 145, the "**Scheme**" means the scheme of arrangement dated December 3,
2025 between the Company and the holders of the scheme shares (which comprise the ordinary shares of the Company that are transferred
under the Scheme) (the "**Scheme Shares**") under Chapter 1 of Part 9 of the Act in its original form or with or subject
to any modification(s), addition(s) or condition(s) approved or imposed by the High Court of Ireland. Unless otherwise defined,
expressions defined in the Scheme shall have the same meanings in this article 145.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Notwithstanding any other provision of these articles or the terms of any resolution, whether ordinary
or special, passed by the Company in any general meeting, if the Company allots and issues any ordinary shares (other than to Alkermes
plc ()"**Alkermes**") and/or its nominee(s)) on or after the Voting Record Time and prior to the Scheme Record Time, such
shares shall be allotted and issued subject to the terms of the Scheme and the holder or holders of those shares shall be bound by the
Scheme accordingly.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Notwithstanding any other provision of these articles, if any new ordinary shares of the Company are allotted
or issued to any person (other than to Alkermes and/or its nominee(s)) (a "**new member**") on or after the Scheme Record
Time, the new member shall, provided that the Scheme has become effective, have such shares transferred immediately, free of all encumbrances,
to Alkermes and/or its nominee(s) in consideration of and conditional on the payment by Alkermes to the new member of the Scheme
Consideration to which the new member would have been entitled under the terms of the Scheme had such ordinary shares transferred to Alkermes
hereunder been Scheme Shares at the Scheme Record Time.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) In order to give effect to any such transfer required by this article 145, the Company may appoint any
person to act, and who shall be authorised, as attorney and/or agent for and in the name of, any new member, without the need for any
further action being required to give effect thereto, to execute and deliver a form of transfer on behalf of, or as attorney for and in
the name of, the new member in favour of Alkermes and/or its nominee(s). Subject to the Scheme becoming effective, pending the registration
of Alkermes as a holder of any share to be transferred under this article 145, the new member shall not be entitled to exercise any rights
attaching to any such shares unless so agreed by Alkermes and Alkermes shall be irrevocably empowered to appoint a person nominated by
Alkermes to act as attorney or agent on behalf of any holder of that share in accordance with any directions Alkermes may give in relation
to any dealings with or disposal of that share (or any interest in it), the exercise of any rights attached to it or receipt of any distribution
or other benefit accruing or payable in respect of it and any holder(s) of that share must exercise all rights attaching to it in
accordance with the directions of Alkermes.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) In the absence of bad faith or wilful default, none of Alkermes, the Company, any person or nominee appointed
by Alkermes, the Company or their respective agents shall have any liability for any loss or damage arising as a result of sale or transfer
(including as a result of the timing or terms of such sale or transfer) or any instrument of transfer executed and/or delivered or any
other thing done for or on behalf of any new member or otherwise pursuant to this article 145.

We, the persons whose names and addresses are subscribed, wish to be formed into a company in pursuance of this constitution, and we agree to take the number of shares in the capital of the Company set opposite our names.

---

| | |
|:---|:---|
| **Names, address and description** | **Number of shares taken** |
|  | **of subscriber by subscriber** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fintan Mark Clancy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fintan Mark Clancy |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 Haddon Road | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8 Haddon Road |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clontarf | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clontarf |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dublin 3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dublin 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D03 NH67 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D03 NH67 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Solicitor One | Ordinary Share only |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Christopher Paul Joseph McLaughlin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Christopher Paul Joseph McLaughlin |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 Castle Court | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31 Castle Court |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booterstown | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booterstown |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Co. Dublin | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Co. Dublin |
| Solicitor | One Ordinary Share only |

---

Dated the 24<sup>th</sup> day of November 2015

---

| | |
|:---|:---|
| Witness to the above signature: | BRIAN DOHERTY |
|  | Brian Doherty |
|  | Arthur Cox Building |
|  | Earlsfort Terrace, |
|  | Dublin 2 |

---

## Exhibit 99.1

**Exhibit 99.1**

**<u>Alkermes Contacts:</u>**

For Investors: Sandy Coombs +1 781 609 6377

For Media: Katie Joyce +1 781 249 8927

**Alkermes plc Completes Acquisition of Avadel Pharmaceuticals plc, Accelerating Entry Into Sleep Medicine Market**

— Augments Alkermes' Revenue Growth Profile and Diversifies Commercial Portfolio with New High Potential Growth Product, LUMRYZ<sup><sup>®</sup></sup> (Sodium Oxybate) for Extended-Release Oral Suspension —

— Expected to be Accretive in 2026 —

— Positions the Combined Organization to Accelerate Innovation and Leadership in Development of Treatments for Sleep Disorders and Other Neurological Disorders —

DUBLIN – (Business Wire) – Feb. 12, 2026 -- Alkermes plc (Nasdaq: ALKS) ("Alkermes") and Avadel Pharmaceuticals plc (Nasdaq: AVDL) ("Avadel") today announced Alkermes' completion of its acquisition of Avadel, a commercial-stage biopharmaceutical company. The acquisition adds Avadel's FDA-approved product, LUMRYZ<sup>®</sup>, to Alkermes' commercial portfolio, and provides Alkermes with a commercial organization experienced in this disease state. This strategic move accelerates Alkermes' entry into the sleep medicine market and enhances its ability to unlock the full potential of its late-stage development pipeline focused on central disorders of hypersomnolence.

The transaction was completed pursuant to an Irish High Court sanctioned scheme of arrangement (the "Scheme") under Chapter 1 of Part 9 of the Companies Act 2014 of Ireland. LUMRYZ<sup>®</sup> (sodium oxybate) for extended-release oral suspension is approved for the treatment of cataplexy or excessive daytime sleepiness in patients seven years of age and older with narcolepsy.

"With the close of this acquisition, Alkermes achieved an important milestone in the continued advancement of our strategy, accelerating our entry into the commercial sleep medicine market at a pivotal moment as we work to initiate the planned phase 3 program for alixorexton in narcolepsy this quarter. Avadel's commercial and R&D portfolio, established commercial infrastructure, and talented team strengthen our organization and expand our capabilities in this important therapeutic area. Supported by our strong balance sheet, this all-cash acquisition is expected to enhance our revenue growth profile and underscores our ongoing commitment to creating long-term value for shareholders," said Richard Pops, Chief Executive Officer of Alkermes.

The transaction is expected to be accretive in 2026 and represents a compelling financial and strategic opportunity, leveraging Alkermes' existing commercial expertise and operational infrastructure and adding new capabilities in rare disease. Avadel is a recognized innovator in the sleep medicine space, committed to addressing significant unmet needs for patients.

Since launching LUMRYZ in 2023, Avadel has successfully built and scaled a commercial organization that has driven strong demand. With an estimated population of >50,000 oxybate-eligible narcolepsy patients in the United States, LUMRYZ has significant opportunity for growth ahead. The acquisition also includes valiloxybate, Avadel's in-licensed salt-free, once-at-bedtime oxybate candidate in phase 1 clinical development.

To finance the acquisition, Alkermes will use approximately $750 million of cash from its balance sheet and borrowed a total of $1.525 billion in term loans that are due in 2031. The company expects to pay down the debt quickly with cash flows from the business.

Alkermes will provide its 2026 financial expectations for the combined organization on Feb. 25, 2026 as part of its financial results announcement for the quarter and year ended Dec. 31, 2025. Alkermes' financial expectations for 2026 will include certain expenses related to the transaction, including:

In the first quarter of 2026, Alkermes will record transaction-related costs of $40 million.

Alkermes will record approximately $180 million of LUMRYZ inventory fair value step-up, which will be expensed as cost of goods sold as the inventory is sold in 2026.

Alkermes will record approximately $1.5 billion of intellectual property related to LUMRYZ, which will be amortized over an expected life of 13 years. Alkermes expects amortization of intangible assets to be in the range of $95 to $105 million in 2026.

Net interest expense is expected to be in the range of $75 to $85 million in 2026.

The acquisition was approved by Avadel shareholders at a scheme meeting of shareholders and at an extraordinary general meeting of shareholders, each held on Jan. 12, 2026. The Irish High Court sanctioned the Scheme on Feb. 10, 2026. On Feb. 12, 2026 (the "Effective Date"), the Scheme and the acquisition became effective upon delivery of the court order of the Irish High Court to the Irish Companies Registration Office. Prior to the opening of trading on Feb. 12, 2026, all of Avadel's shares will cease trading on the Nasdaq Global Market ("Nasdaq"), and Avadel intends to promptly cause such shares to be delisted from Nasdaq and deregistered under the Securities Exchange Act of 1934, as amended.

Payment of the Cash Consideration to the Scheme Shareholders pursuant to the Scheme is being commenced by Alkermes today, Feb. 12, 2026. The Rights Agent will record the Scheme Shareholders as the owners of the CVR Consideration in the CVR Register in accordance with the terms of the CVR Agreement dated as of today, Feb. 12, 2026.

Except as otherwise defined herein, capitalized terms used but not defined in this announcement have the same meanings as given to them in the definitive proxy statement filed by Avadel with the U.S. Securities and Exchange Commission ("SEC") on Dec. 3, 2025, which also constitutes a scheme circular under Irish law.

**<u>About Alkermes plc</u>**

Alkermes plc (Nasdaq: ALKS), a mid-cap growth and value equity, is a global biopharmaceutical company that seeks to develop innovative medicines in the field of neuroscience. The company has a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder and narcolepsy. Alkermes' pipeline includes late-stage clinical candidates in development for narcolepsy and idiopathic hypersomnia, and orexin 2 receptor agonists in early clinical development for other neurological disorders, including attention-deficit hyperactivity disorder (ADHD) and fatigue associated with multiple sclerosis and Parkinson's disease. Headquartered in Ireland, Alkermes also has a corporate office and research and development center in Massachusetts and a manufacturing facility in Ohio. For more information, please visit Alkermes' website at www.alkermes.com.

**<u>About LUMRYZ<sup>®</sup></u> (sodium oxybate) for extended-release oral suspension**

LUMRYZ is an extended-release sodium oxybate medication approved by the FDA on May 1, 2023, as the first and only once-at-bedtime treatment for cataplexy or excessive daytime sleepiness (EDS) in adults with narcolepsy. On Oct. 16, 2024, LUMRYZ was additionally approved as a once-at-bedtime treatment for cataplexy or EDS in pediatric patients seven years of age and older with narcolepsy.

The LUMRYZ prescribing information includes Boxed Warnings for central nervous system (CNS) depression and abuse and misuse. LUMRYZ is a CNS depressant. Clinically significant respiratory depression and obtundation may occur in patients treated with LUMRYZ at recommended doses. Many patients who received LUMRYZ during clinical trials in narcolepsy were receiving CNS stimulants. LUMRYZ is the sodium salt of gamma-hydroxybutyrate (GHB). Abuse or misuse of illicit GHB, either alone or in combination with other CNS depressants, is associated with CNS adverse reactions, including seizure, respiratory depression, decreased consciousness, coma, and death. Because of the risks of CNS depression and abuse and misuse, LUMRYZ is available only through a restricted program under a Risk Evaluation and Mitigation Strategy (REMS) called the LUMRYZ REMS. Please see full Prescribing Information for additional safety information including BOXED Warnings. Further information about the REMS is available at www.LUMRYZREMS.com or by calling 1-877-453-1029.

**<u>Note Regarding Forward-Looking Statements</u>**

Certain statements set forth in this announcement constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, but not limited to, statements concerning: Alkermes' expectations concerning the combined organization's future financial and operating performance, business plans or prospects, including expected transaction costs and accounting, the company's anticipated growth profile, financial expectations and plans for LUMRYZ and expected timelines for paying down the company's debt; and Alkermes' expectations regarding development plans, activities and timelines for, and the potential therapeutic and commercial value of, the combined organization's portfolio of development candidates. Alkermes cautions that forward-looking statements are inherently uncertain. The forward-looking statements are neither promises nor guarantees and they are necessarily subject to a high degree of uncertainty and risk. Actual performance and results may differ materially from those expressed or implied in the forward-looking statements due to various risks and uncertainties. These risks and uncertainties include, among others: the businesses of Alkermes and Avadel may not be effectively integrated and the expected benefits and value of the acquisition may not be achieved; there may be unknown or inestimable liabilities, potential litigation and transaction costs associated with the acquisition; whether any general economic, political, market and business conditions, or future exchange and interest rates, changes in tax laws, regulations, rates and policies, may have a negative impact on the combined organization following consummation of the acquisition; the completion of the acquisition could result in disruption to the business and make it more difficult to maintain business and operational relationships of Alkermes and Avadel, including the ability of Alkermes to retain highly qualified personnel; the company may not be able to pay down its debt on expected timelines or at all; clinical development activities may not be initiated or completed on expected timelines or at all; the results of development activities may not be positive, or predictive of future results from such activities, results of future development activities or real-world results; Alkermes' products or product candidates could be shown to be ineffective or unsafe; the FDA or regulatory authorities outside the U.S. may not agree with Alkermes' regulatory approval strategies or may make adverse decisions regarding its products; Alkermes may not be able to continue to successfully commercialize its products or support revenue growth from such products; there may be a reduction in payment rate or reimbursement for Alkermes' products or an increase in related financial obligations to government payers; Alkermes' products may prove difficult to manufacture, be precluded from commercialization by the proprietary rights of third parties, or have unintended side effects, adverse reactions or incidents of misuse; and those risks and uncertainties described under the heading "Risk Factors" in Alkermes' Annual Report on Form 10-K for the year ended Dec. 31, 2024 and in subsequent filings made by Alkermes with the SEC, which are available on the SEC's website at www.sec.gov. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Alkermes and/or its directors disclaim any intention or responsibility for updating or revising any forward-looking statements contained in this announcement.

LUMRYZ<sup>®</sup> is a registered trademark of Flamel Ireland Limited, an affiliate of Alkermes plc.

**<u>Statement Required by the Irish Takeover Rules</u>**

The Alkermes directors accept responsibility for the information contained in this announcement other than that relating to Avadel, its Subsidiaries and the Avadel directors and members of their immediate families, related trusts and persons connected with them. To the best of the knowledge and belief of the Alkermes directors (who have taken all reasonable care to ensure that this is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

The Avadel directors accept responsibility for the information contained in this announcement other than that relating to Alkermes, its Subsidiaries and the Alkermes directors and members of their immediate families, related trusts and persons connected with them. To the best of the knowledge and belief of the Avadel directors (who have taken all reasonable care to ensure that this is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.

**<u>Important Notices Relating to Financial Advisors</u>**

J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which is authorized in the United Kingdom by the Prudential Regulation Authority and regulated in the United Kingdom by the Prudential Regulation Authority and the Financial Conduct Authority) (together, "J.P. Morgan") acted as financial advisor exclusively for Alkermes and no one else in connection with the acquisition and will not regard any other person as its client in relation to the acquisition and will not be responsible to anyone other than Alkermes for providing the protections afforded to clients of J.P. Morgan or its affiliates, nor for providing advice in relation to the acquisition or any other matter or arrangement referred to herein.

Goldman Sachs & Co. LLC, which is authorized and regulated by the Financial Industry Regulatory Authority, is acting exclusively as financial advisor for Avadel and for no one else in connection with the matters set out in this announcement and will not regard any other person as its client in relation to the matters set out in this announcement and will not be responsible to anyone other than Avadel for providing the protections afforded to clients of Goldman Sachs & Co. LLC nor for providing advice in relation to the acquisition or any other matter referred to in this announcement. Neither Goldman Sachs & Co. LLC nor any of its affiliates (nor their respective directors, officers, employees or agents) owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Goldman Sachs & Co. LLC in connection with this announcement, any statement contained herein or otherwise.

Morgan Stanley & Co. LLC, acting through its affiliate Morgan Stanley & Co. International plc (together, "Morgan Stanley"), which is authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for Avadel as financial advisor and for no one else in relation to the matters referred to in this announcement. In connection with such matters, Morgan Stanley and its directors, officers, employees and agents will not regard any other person as its client, nor will it be responsible to anyone other than Avadel for providing the protections afforded to their clients or for providing advice in connection with the matters described in this announcement or any matter referred to herein.

**<u>Publication on a Website</u>**

In accordance with Rule 26.1 of the Irish Takeover Rules, a copy of this announcement will be available on Avadel's website at www.avadel.com and on Alkermes' website at www.alkermes.com by no later than 12:00 noon (U.S. Eastern Time) on the business day following publication of this announcement. Neither the content of any such websites referred to in this announcement nor the content of any other websites accessible from hyperlinks on such websites is incorporated into, or forms part of, this announcement.