Taro Shareholder Value Creation and Strategic Overview

7 Research Strategy Technically complex products, Regulatory barriers to entry TARO ☐ Current State (9/30/23) ㅁ ㅁ 234 Approved US FDA ANDAS 19 ANDAS awaiting FDA approval Generic products with sustainable profitability ㅁ Topicals and other niche products with high clinical and regulatory barriers to entry ㅁ Technically complex manufacturing ㅁ Opportunity for API synthesis Proprietary products ㅁ Innovative products for unmet needs ㅁ Niche markets - mainly in dermatology Chemical Synthesis/API ㅁ ◉ Developing and manufacturing for most of our top products 60 Drug Master Files (DMFS) currently submitted to FDA

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