Taro Shareholder Value Creation and Strategic Overview

4 Company Overview Fully Integrated Pharmaceutical Company Antibiotic Antibiotic TARO Research-based, multinational pharmaceutical company Predominantly US driven business (90% of sales in North America) Diverse portfolio of 200+ pharmaceutical products Generic Rx and OTC ■ Key therapeutic categories: dermatological/topical, neuropsychiatric, cardiovascular, and anti-inflammatory Operations in the U.S., Canada and Israel with 1,500+ employees worldwide ◉ 35% of employees in R&D and Quality Market Share ◉ Ranked #1 or #2 in 65% by market share in the U.S. generic market Excellent track record with FDA & Other Agencies ㅁ Fully Compliant FDA, Ministry of Health, Health Canada Vertical Integration of API and formulation of select key products Financial ◉ Sun Ownership: 78.5% Strong Balance Sheet $1.3 billion in cash and marketable securities: -0- debt High margins, strong cash generation from operations farin Topicort רוקמול Dermal Terconazole Vaginal

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