Avadel Pharmaceuticals (AVDL) investor relations material

Executive summary

• Alkermes and Avadel are progressing toward closing an acquisition, aiming to integrate their organizations and leverage complementary strengths for greater impact in treating hypersomnolence disorders, with integration planning underway for 2026.

• A virtual town hall is scheduled for late January 2026 to address employee questions and introduce Alkermes senior leaders involved in the integration.

• Forward-looking statements highlight anticipated benefits of the acquisition, while acknowledging risks such as regulatory approvals, competing offers, and potential delays.

Voting matters and shareholder proposals

• Shareholders are to vote on the acquisition at a Scheme Meeting and an Extraordinary General Meeting (EGM), with the record date set as November 25, 2025.

• Voting decisions should be based on the Definitive Proxy Statement, which includes the Scheme Document outlining terms and conditions of the acquisition.

Board of directors and corporate governance

• Directors of both Avadel and Alkermes accept responsibility for the accuracy of the information provided in the communication, in compliance with Irish Takeover Rules.