Fourth-Quarter and Full-Year 2019 Orphan and Rheumatology Segment Results

GAAP to Non-GAAP Reconciliation Net Debt HORIZON $ in thousands December 31, 2019 As of December 31, 2018 Long-term debt, net of current $ 1,001,308 $ 1,564,485 Exchangeable notes, net 351,533 332,199 Total Debt 1,352,841 1,896,684 Debt discount 59,922 87,038 Deferred financing fees 5,263 9,304 Total Principal Amount of Debt 1,418,026 1,993,026 Less: cash and cash equivalents 1,076,287 958,712 Net Debt $ 341,739 $ 1,034,314 49

View entire presentation