Teva - positive settlements emerging in the US

All,

Clarified from the Company that the RCF will become senior secured if over $1bn of senior bonds are issued. There is NO LIMIT on the amount of guaranteed or subsidiary debt that can be issued, but the Company played down the possibility of raising the required new issuance for 2021 and 2023 in this market.

In addition, the shares in Teva and other manufacturers have gained support due to expectation of smaller overall settlement due to recent settlements in the US. Johnson & Johnson has settled for $20m to two counties in Ohio, exempting them from the Ohio MDL case later this month. Teva are one of the last manufacturers involved in the case as the case proceeds against the distributors of the opioid drugs. The Johnson and Johnson settlement is significantly lower than what was expected but further details on the settlement is not available.

Tomas