# EDGAR Filing Document

**Accession Number:** 0002008861
**File Stem:** 0000950103-25-007390
**Filing Date:** 2025-6
**Character Count:** 30293
**Document Hash:** a4c7e75ded5d1af414b62f72c62c6f8c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000950103-25-007390.hdr.sgml**: 20250613

**ACCESSION NUMBER**: 0000950103-25-007390

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 13

**CONFORMED PERIOD OF REPORT**: 20250613

**ITEM INFORMATION**: Submission of Matters to a Vote of Security Holders

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250613

**DATE AS OF CHANGE**: 20250613

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Endo, Inc.
- **CENTRAL INDEX KEY:** 0002008861
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 301390281
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-280767
- **FILM NUMBER:** 251046061

**BUSINESS ADDRESS:**
- **STREET 1:** 9 GREAT VALLEY PARKWAY
- **CITY:** MALVERN
- **STATE:** PA
- **ZIP:** 19355
- **BUSINESS PHONE:** (484) 216-0000

**MAIL ADDRESS:**
- **STREET 1:** 9 GREAT VALLEY PARKWAY
- **CITY:** MALVERN
- **STATE:** PA
- **ZIP:** 19355

?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 15(d)**

**of the Securities Exchange Act of 1934**

**June 13, 2025**

Date of Report (Date of Earliest Event Reported)

__________________

**Endo, Inc.** 

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

__________________

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| | | |
|:---|:---|:---|
| **Delaware** | **333-280767** | **30-1390281** |
| **(State or other jurisdiction**<br> **of incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

**9 Great Valley Parkway, Malvern, Pennsylvania 19355**

**(Address of principal executive offices) (Zip Code)**

**Registrant's telephone number, including area code: +1 (484) 216-0000**

__________________

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: None

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 5.07 &nbsp;&nbsp;&nbsp;&nbsp;Submission of Matters to a Vote of Security Holders.**

On June 13, 2025, Endo, Inc., a Delaware corporation ("Endo"), convened a special meeting of stockholders (the "Special Meeting") to consider and vote upon certain proposals related to the Transaction Agreement, dated March 13, 2025 (as further amended, modified, restated or supplemented from time to time, the "Transaction Agreement"), with Mallinckrodt plc, an Irish public limited company ("Mallinckrodt"), and Salvare Merger Sub LLC, a Delaware limited liability company and a wholly owned subsidiary of Mallinckrodt ("Merger Sub"), providing for, among other things, (a) the memorandum and articles of association of Mallinckrodt will be amended by means of a scheme of arrangement (the "Articles Scheme Amendment") under the Companies Act 2014 and shareholder approval; (b) the memorandum and articles of association of Mallinckrodt will be further amended by shareholder approval following the Articles Scheme Amendment (together with the Articles Scheme Amendment, the "Articles Amendments"); and (c) Merger Sub will merge with and into Endo (such merger, the "business combination" and, together with the Articles Amendments, the "Transaction"), with Endo surviving the business combination as a wholly owned subsidiary of Mallinckrodt. As a result of the business combination, Endo will no longer be publicly held. Endo's common stock will be delisted from the OTCQX<sup>®</sup> Best Market and deregistered under the Securities Exchange Act of 1934, as amended.

There were 76,313,462 shares of common stock, par value $0.001 per share, of Endo (the "Endo common stock"), issued and outstanding as of April 29, 2025, the record date for the Special Meeting (the "Record Date"). At the Special Meeting, the holders of 61,881,572 shares of Endo common stock were present or represented by proxy, representing approximately 81.09% of the total outstanding shares of Endo common stock as of the Record Date, which constituted a quorum.

At the Special Meeting, the following proposals were voted upon (each of which is described in greater detail in the definitive proxy statement filed by Endo with the Securities and Exchange Commission on May 12, 2025 (the "Proxy Statement")):

<u>Proposal 1 – Transaction Proposal</u>: Proposal to approve and adopt the Transaction Agreement, including the plan of merger contained therein, and the transactions contemplated thereby, including the business combination, and the other transactions contemplated by the Transaction Agreement (the "Transaction Proposal").

<u>Proposal 2 – Distributable Reserves Proposal</u>: Proposal to approve, on a non-binding, advisory basis, (i) the reduction of the entire amount (or such lesser amount as the directors of Mallinckrodt or the Irish High Court may determine) standing to the credit of Mallinckrodt's share premium account as at the date of the joint proxy statement/prospectus (being the first Mallinckrodt distributable reserves creation); and (ii) the reduction of the entire amount (or such lesser amount as the directors of Mallinckrodt or the Irish High Court may determine) standing to the credit of Mallinckrodt's share premium account following the consummation of the business combination, (including but not limited to the share premium arising from the issuance of Mallinckrodt ordinary shares pursuant to the Transaction Agreement or the amounts credited to Mallinckrodt's share premium account upon the capitalization of any merger reserve or like reserve resulting from the issuance of Mallinckrodt ordinary shares pursuant to the Transaction Agreement) (the "Distributable Reserves Proposal").

<u>Proposal 3 – Combination-Related Compensation Proposal</u>: Proposal to approve, on a non-binding, advisory basis, the compensation that will or may become payable by Endo or its subsidiaries to its named executive officers in connection with the consummation of the Transaction (the "Combination-Related Compensation Proposal").

<u>Proposal 4 – Mallinckrodt Articles Amendment Proposals</u>: Proposals to approve, on a non-binding, advisory basis, eight proposed amendments to the Mallinckrodt articles of association, presented separately in accordance with the requirements of the United States Securities and Exchange Commission (collectively, the "Mallinckrodt Articles Amendment Proposals"):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) to vary the authorized share capital of Mallinckrodt, including through the creation of a new class of
preferred shares, the removal of pre-emption rights of certain shareholders over newly issued shares and the deletion of Article 174 of
the existing Mallinckrodt constitution, which capped the total number of shares issuable pursuant to Mallinckrodt's management incentive
plan at 10%;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) to delete certain restrictions on Mallinckrodt shareholders' ability to deal in their Mallinckrodt
shares, amend the circumstances in which directors can decline to register a transfer of shares and eliminate the drag-along rights and
tag-along rights in the existing memorandum and articles of association of Mallinckrodt;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) to change the quorum required for general meetings (to two or more persons holding (or representing by
proxy) at least one half in nominal value of the issued shares of an applicable class), the manner in which voting will be conducted (by
requiring voting to be carried out by way of a poll) and the procedures required for advance notice of members' business and nominations
(by aligning with the customary current approach by U.S. listed companies);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) to delete the ability of holders of more than one half of the Mallinckrodt shares to require the Mallinckrodt
board to initiate a process for a review of strategic alternatives and a sale of assets or business segments, to delete restrictions on
the Mallinckrodt board from selling, leasing or exchanging all or substantially all of Mallinckrodt's property and assets without
prior consent of the holders of more than one half of the Mallinckrodt shares, to amend provisions regarding shareholder rights plan to
align with the customary approach adopted by Irish incorporated U.S. listed companies and to restrict Mallinckrodt from engaging in business
combinations with "interested members" for a period of time;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) to permit the Mallinckrodt board to determine its own size (subject to a minimum of two and a maximum
of twenty directors) and its own chair, and to allow for the vacation ipso facto of the office of a director where he or she is requested
to resign in writing by not less than three quarters of the other directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) to change the provisions regarding appointment of Mallinckrodt directors and add provisions regarding
plurality voting of directors;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) to delete existing provisions in respect of information rights and board observers for certain shareholders;
and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) to make certain other changes to make Mallinckrodt's articles of association in a form that is customary
for an Irish public limited company effecting a transaction of the nature of the Transaction and for a potential listing of Mallinckrodt's
shares on the New York Stock Exchange.

Each proposal was approved by the requisite vote of Endo's stockholders. The final voting results for each proposal are described below. For more information on each of these proposals, see the Proxy Statement.

<u>Proposal 1 – Transaction Proposal</u>

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| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 61792120 | 89452 | 0 |

---

<u>Proposal 2 – Distributable Reserves Proposal</u>

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 61792120 | 89452 | 0 |

---

<u>Proposal 3 – Combination-Related Compensation Proposal</u>

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 61772299 | 108528 | 745 |

---

<u>Proposal 4 – Mallinckrodt Articles Amendment Proposals</u>

*<u>Proposal 4(a)</u>*

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 47253335 | 14626367 | 1870 |

---

*<u>Proposal 4(b)</u>*

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 50020164 | 11859538 | 1870 |

---

*<u>Proposal 4(c)</u>*

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 50023073 | 11856629 | 1870 |

---

*<u>Proposal 4(d)</u>*

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 46139932 | 15739770 | 1870 |

---

*<u>Proposal 4(e)</u>*

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 50010137 | 11868820 | 2615 |

---

*<u>Proposal 4(f)</u>*

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 50023073 | 11856629 | 1870 |

---

*<u>Proposal 4(g)</u>*

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 50022328 | 11856629 | 2615 |

---

*<u>Proposal 4(h)</u>*

---

| | | |
|:---|:---|:---|
| **Votes For** | **Votes Against** | **Abstentions** |
| 50023073 | 11856629 | 1870 |

---

**Item 8.01 Other Events.**

On June 13, 2025, Endo issued a joint press release with Mallinckrodt announcing the results of their respective special meetings of shareholders. A copy of the joint press release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

**Item 9.01 Financial Statements and Exhibits.**

*(d) Exhibits*

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| | |
|:---|:---|
| **Exhibit <u>Number</u>** | &nbsp;&nbsp;&nbsp;&nbsp; **<u>Description</u>** |
| [99.1&nbsp;&nbsp;&nbsp;&nbsp;](dp230162_ex9901.htm) | [&nbsp;&nbsp;&nbsp;&nbsp; Joint Press Release, dated June 13, 2025.](dp230162_ex9901.htm) |
| 104 | &nbsp;&nbsp;&nbsp;&nbsp; Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

**SIGNATURES** 

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

---

| | | |
|:---|:---|:---|
|  | **ENDO, INC.** | **ENDO, INC.** |
| Date: June 13, 2025 | By: | /s/ Matthew J. Maletta  |
|  | Name: | Matthew J. Maletta |
|  | Title: | Executive Vice President,<br> Chief Legal Officer and Secretary |

---

## Exhibit 99.1

**Exhibit 99.1**

**Mallinckrodt and Endo Shareholders Approve Combination to Create a Global, Scaled, Diversified Pharmaceuticals Leader** 

*Mallinckrodt to Apply to Irish High Court for Approval of Scheme of Arrangement* 

**DUBLIN and MALVERN, Pa., June 13, 2025 –** Mallinckrodt plc ("Mallinckrodt") and Endo, Inc. (OTCQX: NDOI) ("Endo") today announced that their respective shareholders have provided the necessary shareholder approvals for the companies to combine in a stock and cash transaction that will create a global, scaled, diversified pharmaceuticals leader.

With the necessary shareholder approval for the Mallinckrodt scheme of arrangement having been obtained, Mallinckrodt will now apply to the Irish High Court to confirm the scheme of arrangement. The timing of the court hearing and the decision to approve the scheme are subject to the High Court's discretion. Subject to having the sanction hearing in July and to satisfaction of the remaining closing conditions, Mallinckrodt and Endo are targeting completing the merger in the weeks following the sanction hearing.

Mallinckrodt's headquarters in Dublin, Ireland, will serve as the combined company's global headquarters following the close of the transaction.

"We are pleased that our respective shareholders recognize the opportunity in combining these two essential pharmaceuticals organizations to accelerate value creation for our shareholders, customers, and employees, for the ultimate benefit of the patients we serve," said Siggi Olafsson, President and Chief Executive Officer of Mallinckrodt, who will also serve as the President and CEO of the combined company.

As initially announced on March 13, Mallinckrodt and Endo plan to combine their generic pharmaceuticals businesses and Endo's sterile injectables business after the close of the transaction and to separate that business from the combined company at a later date. The separation would be subject to approval by the combined company's Board of Directors and other conditions.

"This milestone marks an important step forward in the combination of two highly complementary companies. As we move toward the merger and planned separation of the sterile injectables and generics businesses, we are positioning to deliver improved product portfolios to patients and drive sustainable long-term value for our shareholders and stakeholders," said Scott Hirsch, Interim CEO of Endo.

**Advisors**

Lazard is serving as Mallinckrodt's financial advisor; Wachtell, Lipton, Rosen & Katz is serving as lead counsel; and Hogan Lovells and Arthur Cox are also serving as legal counsel to Mallinckrodt. Goldman Sachs & Co. LLC is serving as Endo's financial advisor; Davis Polk & Wardwell LLP is serving as lead counsel; and Paul, Weiss, Rifkind, Wharton & Garrison LLP and A&L Goodbody LLP are also serving as legal counsel to Endo.

**About Mallinckrodt**

Mallinckrodt is a global business consisting of multiple wholly owned subsidiaries that develop, manufacture, market and distribute specialty pharmaceutical products and therapies. The Company's Specialty Brands reportable segment's areas of focus include autoimmune and rare diseases in specialty areas like neurology, rheumatology, hepatology, nephrology, pulmonology and ophthalmology; neonatal respiratory critical care therapies; and gastrointestinal products. Its Specialty Generics reportable segment includes specialty generic drugs and active pharmaceutical ingredients. To learn more about Mallinckrodt, visit www.mallinckrodt.com.

Mallinckrodt uses its website as a channel of distribution of important company information, such as press releases, investor presentations and other financial information. It also uses its website to expedite public access to time-critical information regarding the Company in advance of or in lieu of distributing a press release or a filing with the U.S. Securities and Exchange Commission ("SEC") disclosing the same information. Therefore, investors should look to the Investor Relations page of the website for important and time-critical information. Visitors to the website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations page of the website.

**About Endo**

Endo is a diversified pharmaceutical company boldly transforming insights into life-enhancing therapies. Our passionate team members collaborate to develop and deliver these essential medicines. Together, we are committed to helping everyone we serve live their best life. Learn more at www.endo.com or connect with us on LinkedIn.

**Mallinckrodt Contacts**

**Investor Relations** 

Bryan Reasons<br> Executive Vice President and Chief Financial Officer<br> bryan.reasons@mnk.com

**Media**<br> Michael Freitag / Aura Reinhard / Catherine Simon<br> Joele Frank, Wilkinson Brimmer Katcher<br> 212-355-4449

**Endo Contacts**

**Investor Relations** <br> Juan Avendano

investor.relations@endo.com

**Media**<br> Linda Huss

media.relations@endo.com

**Information Regarding Forward-Looking Statements**

Statements in this communication that are not strictly historical may be "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties.

There are a number of important factors that could cause actual events to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include risks and uncertainties related to, among other things:

&nbsp;&nbsp;&nbsp;&nbsp;(i) transaction-related risks, including the parties' ability to successfully integrate our business and Endo's business and
unanticipated costs of such integration, which may result in the combined company not operating as effectively and efficiently as expected;
uncertainties related to a future separation of the combined generics pharmaceuticals businesses of Mallinckrodt and Endo and Endo's
sterile injectables business; the risk that the expected benefits and synergies of the proposed transactions may not be fully realized
in a timely manner, or at all; uncertainty regarding the timing of the closing of the proposed business combination transaction; the risk
that the conditions to the proposed business combination transaction may not be satisfied (or waived to the extent permitted by law) on
a timely basis or at all or the failure of the proposed business combination transaction to close for any other reason or to close on
the anticipated terms, including the intended tax treatment; the occurrence of any event, change or other circumstance that could give
rise to the termination of the proposed business combination transaction; unanticipated difficulties, liabilities or expenditures relating
to the proposed transactions; the effect of the announcement, pendency or completion of the proposed transactions on the parties'
business relationships and business operations generally; certain restrictions on the ability of Mallinckrodt and Endo to pursue certain
business activities or strategic transactions during the pendency of the proposed business combination transaction; the effect of the
announcement, pendency or completion of the proposed transactions on the long-term value of Mallinckrodt's ordinary shares and Endo's
common stock; risks that the proposed transactions may disrupt current plans and operations of Mallinckrodt and Endo and their respective
management teams and potential difficulties in hiring, retaining and motivating employees as a result of the proposed transactions; risks
related to our increased indebtedness as a result of the proposed business combination transaction; significant transaction costs related
to the proposed business combination transaction; potential litigation relating to the proposed transactions that could be instituted
against Mallinckrodt, Endo or their respective officers or directors; rating agency actions and Mallinckrodt's and Endo's
ability to access short- and long-term debt markets on a timely and affordable basis; and risks related to the financing in connection
with the transaction;

&nbsp;&nbsp;&nbsp;&nbsp;(ii) risks related to Mallinckrodt's business, including potential changes in Mallinckrodt's business strategy and performance;
Mallinckrodt's initiative to explore a variety of potential divestiture, financing and other transactional opportunities; the exercise
of contingent value rights by the Opioid Master Disbursement Trust II (the "Trust"); governmental investigations and inquiries,
regulatory actions, and lawsuits, in each case related to Mallinckrodt or its officers; Mallinckrodt's contractual and court-ordered
compliance obligations that, if violated, could result in penalties; compliance with and restrictions under the global settlement to resolve
all opioid-related claims; matters related to Acthar Gel, including the settlement with governmental parties to resolve certain disputes
and compliance with and restrictions under the related corporate integrity agreement; the ability to maintain relationships with Mallinckrodt's
suppliers, customers, employees and other third parties following the emergence from the 2023 bankruptcy proceedings; scrutiny from governments,
legislative bodies and enforcement agencies related to sales, marketing and pricing practices; pricing pressure on certain of Mallinckrodt's
products due to legal changes or changes in insurers' or other payers' reimbursement practices resulting from recent increased
public scrutiny of healthcare and pharmaceutical costs; the reimbursement practices of governmental health administration authorities,
private health coverage insurers and other third-party payers; complex reporting and payment obligations under the Medicare and Medicaid
rebate programs and other governmental purchasing and rebate programs; cost containment efforts of customers, purchasing groups, third-party
payers and governmental organizations; changes in or failure to comply with relevant laws and regulations; any undesirable side effects
caused by Mallinckrodt's approved and investigational products, which could limit their commercial profile or result in other negative
consequences; Mallinckrodt's and its partners' ability to successfully develop, commercialize or launch new products or expand
commercial opportunities of existing products, including Acthar Gel (repository corticotropin injection) SelfJect™ and the INOmax
Evolve DS delivery system; Mallinckrodt's ability to successfully identify or discover additional products or product candidates;
Mallinckrodt's ability to navigate price fluctuations and pressures, including the ability to achieve anticipated benefits of price
increases of its products; competition; Mallinckrodt's ability to protect intellectual property rights, including in relation to
ongoing and future litigation; limited clinical trial data for Acthar Gel; the timing, expense and uncertainty associated with clinical
studies and related regulatory processes; product liability losses and other litigation liability; material health, safety and environmental
laws and related liabilities; business development activities or other strategic transactions; attraction and retention of key personnel;
the effectiveness of information technology infrastructure, including risks of external attacks or failures; customer concentration; Mallinckrodt's
reliance on certain individual products that are material to its financial performance; Mallinckrodt's ability to receive sufficient
procurement and production quotas granted by the U.S. Drug Enforcement Administration; complex manufacturing processes; reliance
on third-party manufacturers and supply chain providers and related market disruptions; conducting business internationally; Mallinckrodt's
significant levels of intangible assets and related impairment testing; natural disasters or other catastrophic events; Mallinckrodt's
substantial indebtedness and settlement obligation, its ability to generate sufficient cash to reduce its indebtedness and its potential
need and ability to incur further indebtedness; restrictions contained in the agreements governing Mallinckrodt's indebtedness and
settlement obligation on Mallinckrodt's operations, future financings and use of proceeds; Mallinckrodt's variable rate indebtedness;
Mallinckrodt's tax treatment by the Internal Revenue Service under Section 7874 and Section 382 of the Internal Revenue
Code of 1986, as amended; future changes to applicable tax laws or the impact of disputes with governmental tax authorities; the impact
of Irish laws; the impact on the holders of Mallinckrodt's ordinary shares if Mallinckrodt were to cease to be a reporting company
in the United States; the comparability of Mallinckrodt's post-emergence financial results and the projections filed with the Bankruptcy
Court; and the lack of comparability of Mallinckrodt's historical financial statements and information contained in its financial
statements after the adoption of fresh-start accounting following emergence from the 2023 bankruptcy proceedings; and

&nbsp;&nbsp;&nbsp;&nbsp;(iii) risks related to Endo's business, including future capital expenditures, expenses, revenues, economic performance, financial
conditions, market growth and future prospects; Endo changes in competitive, market or regulatory conditions; changes in legislation or
regulations; global political changes, including those related to the new U.S. presidential administration; Endo's use of artificial
intelligence and data science; the ability to obtain and maintain adequate protection for intellectual property rights; the impacts of
competition such as those related to XIAFLEX<sup>®</sup>; the timing and uncertainty of the results of both the research and development
and regulatory processes; health care and cost containment reforms, including government pricing, tax and reimbursement policies; litigation;
the performance including the approval, introduction and consumer and physician acceptance of current and new products; the performance
of third parties upon whom Endo relies for goods and services; issues associated with Endo's supply chain; Endo's ability
to develop and expand its product pipeline and to launch new products and to continue to develop the market for XIAFLEX<sup>®</sup>
and other branded, sterile injectable or generic products; the effectiveness of advertising and other promotional campaigns; and the timely
and successful implementation of business development opportunities and/or any other strategic priorities.

The Registration Statement on Form S-4 filed with the SEC describes additional risks in connection with the proposed transaction. While the list of factors presented here is, and the list of factors presented in the Registration Statement on Form S-4 are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to Mallinckrodt's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and other filings with the SEC, which are available from the SEC's website (www.sec.gov) and Mallinckrodt's website (www.mallinckrodt.com) and Endo's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other filings with the SEC, which are available from the SEC's website (www.sec.gov) and Endo's website (www.endo.com). There may be other risks and uncertainties that we are unable to predict at this time or that we currently do not expect to have a material adverse effect on our business.

The forward-looking statements made herein speak only as of the date hereof and Mallinckrodt and Endo do not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise, except as required by law. Given these uncertainties, one should not put undue reliance on any forward-looking statements.

**###**