Taro Shareholder Value Creation and Strategic Overview

17 Strong presence in U.S. distribution channels Major U.S. drug wholesalers, smaller wholesalers and distributors ☐ All major retail pharmacy and food chains ☐ ப ☐ All major mass merchandisers Integrated health organizations Pharmacy Benefit Managers (PBMs) ◉ Group Purchasing Organizations (GPOs) ◉ Long-Term Care Providers (LTCs) Health Maintenance Organizations (HMOs) Institutions Government □ V.A., State Medicaid formularies, others TARO

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