Intimation Of Proposed Cash Buyback In Respect Of Glenmark Pharmaceuticals Limited ('Company') Of Its U.S.$200 Million 2 Per Cent Resettable Onward Starting Equity Linked Securities Due 28 June 2022 ('FCC Bonds')

• Security Code: 532296
• Company: GLENMARK

This is further to our letters dated 25 September 2018 and dated 28 September 2018 regarding a buyback of FCC Bonds issued in 2016 which are currently listed on the Singapore Exchange Securities Trading Limited ('SGX-ST'). The Board of Directors of the Company delegated powers to the operations committee. The operations committee approved the launch of buyback of FCC Bonds ('Buyback FCCBs') from existing holders of FCC Bonds ('Buyback Bondholders') and MUFG Securities Asia Limited and J. P. Morgan Securities Limited are appointed as dealer managers, on behalf of the Company to repurchase FCC Bonds at a repurchase price of 105% of the principal amount outstanding, up to an aggregate purchase price of U.S.$ 100 million plus accrued and unpaid interest per FCC Bond.

Subsequently, the operations committee in their second meeting held today determined the detailed terms and conditions of the repurchase of the Buyback FCCBs...