Subsidiary Guarantors

The following tables present unaudited condensed consolidating financial information for (a) the Company (for purposes of this discussion and these tables, "Parent Guarantor"); (b) Mylan Inc., the issuer of the Senior Notes (for the purposes of this discussion and these tables, the “Issuer”), excluding the 3.000% Senior Notes due December 2018 and the 3.750% Senior Notes due December 2020 (collectively, the “December 2015 Senior Notes”); and (c) all other subsidiaries of the Parent Guarantor on a combined basis, none of which guaranteed the Cash Convertible Notes or guarantee the Senior Notes ("Non-Guarantor Subsidiaries"). The consolidating adjustments primarily relate to eliminations of investments in subsidiaries and intercompany balances and transactions. The unaudited condensed consolidating financial statements present investments in subsidiaries using the equity method of accounting. Mylan Inc. is an indirect wholly owned subsidiary of the Company and the Company fully and unconditionally guaranteed on a senior unsecured basis the Senior Notes (other than the December 2015 Senior Notes).

In addition, the Company’s December 2015 Senior Notes are guaranteed on a senior unsecured basis by Mylan Inc. In connection with the offering of the December 2015 Senior Notes, the Company entered into a registration rights agreement pursuant to which the Company and Mylan Inc. will use commercially reasonable efforts to file a registration statement with respect to an offer to exchange each series of the December 2015 Senior Notes for new notes with the same aggregate principal amount and terms substantially identical in all material respects and to cause the exchange offer registration statement to be declared effective by the SEC and to consummate the exchange offer not later than 365 days following the date of issuance of the December 2015 Senior Notes.

The following financial information presents the related unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2016 and 2015, the unaudited Condensed Consolidated Statements of Comprehensive Earnings for the three months ended March 31, 2016 and 2015, the unaudited Condensed Consolidated Balance Sheets as of March 31, 2016 and December 31, 2015 and the unaudited Condensed Consolidating Statements of Cash Flows for the three months ended March 31, 2016 and 2015. This unaudited condensed consolidating financial information has been prepared and presented in accordance with SEC Regulation S-X Rule 3-10 “Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered.”

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Three Months Ended March 31, 2016



(In millions)	Mylan N.V. (Parent Guarantor)			Mylan Inc. (Issuer)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenues:
Net sales	$	—		$	—		$	—	$	2,176.1		$	—		$	2,176.1
Other revenues	—			—			—		15.2			—			15.2
Total revenues	—			—			—		2,191.3			—			2,191.3
Cost of sales	—			—			—		1,284.3			—			1,284.3
Gross profit	—			—			—		907.0			—			907.0
Operating expenses:
Research and development	—			—			—		253.6			—			253.6
Selling, general and administrative	13.2			176.0			—		360.1			—			549.3
Litigation settlements, net	—			—			—		(1.5		)	—			(1.5		)
Total operating expenses	13.2			176.0			—		612.2			—			801.4
Earnings from operations	(13.2		)	(176.0		)	—		294.8			—			105.6
Interest expense	13.3			41.5			—		15.5			—			70.3
Other expense, net	—			—			—		16.3			—			16.3
(Losses) earnings before income taxes	(26.5		)	(217.5		)	—		263.0			—			19.0
Income tax provision (benefit)	—			9.0			—		(3.9		)	—			5.1
Earnings (losses) of equity interest subsidiaries	40.4			264.8			—		—			(305.2		)	—
Net earnings attributable to Mylan N.V. ordinary shareholders	$	13.9		$	38.3		$	—	$	266.9		$	(305.2	)	$	13.9

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS

Three Months Ended March 31, 2015



(In millions)	Mylan N.V. (Parent Guarantor)		Mylan Inc. (Issuer)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
Revenues:
Net sales	$	—	$	—		$	—	$	1,854.6	$	—		$	1,854.6
Other revenues	—		—			—		17.1		—			17.1
Total revenues	—		—			—		1,871.7		—			1,871.7
Cost of sales	—		—			—		1,041.6		—			1,041.6
Gross profit	—		—			—		830.1		—			830.1
Operating expenses:
Research and development	—		—			—		169.9		—			169.9
Selling, general and administrative	—		201.0			—		282.2		—			483.2
Litigation settlements, net	—		—			—		17.7		—			17.7
Total operating expenses	—		201.0			—		469.8		—			670.8
Earnings from operations	—		(201.0		)	—		360.3		—			159.3
Interest expense	—		63.7			—		15.8		—			79.5
Other expense, net	—		—			—		18.5		—			18.5
(Losses) earnings before income taxes	—		(264.7		)	—		326.0		—			61.3
Income tax provision	—		2.3			—		2.4		—			4.7
Earnings (losses) of equity interest subsidiaries	56.6		319.4			—		—		(376.0		)	—
Net earnings attributable to Mylan N.V. ordinary shareholders	$	56.6	$	52.4		$	—	$	323.6	$	(376.0	)	$	56.6

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS

Three Months Ended March 31, 2016



(In millions)	Mylan N.V. (Parent Guarantor)			Mylan Inc. (Issuer)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net earnings	$	13.9		$	38.3		$	—	$	266.9		$	(305.2	)	$	13.9
Other comprehensive earnings (loss), before tax:
Foreign currency translation adjustment	502.0			—			—		502.0			(502.0		)	502.0
Change in unrecognized (loss) gain and prior service cost related to defined benefit plans	(0.3		)	—			—		(0.3		)	0.3			(0.3		)
Net unrecognized (loss) gain on derivatives	(49.1		)	(58.4		)	—		9.3			49.1			(49.1		)
Net unrealized gain on marketable securities	4.4			3.8			—		0.6			(4.4		)	4.4
Other comprehensive earnings (loss), before tax	457.0			(54.6		)	—		511.6			(457.0		)	457.0
Income tax (benefit) provision	(16.8		)	(20.2		)	—		3.4			16.8			(16.8		)
Other comprehensive earnings (loss), net of tax	473.8			(34.4		)	—		508.2			(473.8		)	473.8
Comprehensive earnings (loss) attributable to Mylan N.V. ordinary shareholders	$	487.7		$	3.9		$	—	$	775.1		$	(779.0	)	$	487.7

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE EARNINGS

Three Months Ended March 31, 2015



(In millions)	Mylan N.V. (Parent Guarantor)			Mylan Inc. (Issuer)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net earnings	$	56.6		$	52.4		$	—	$	323.6		$	(376.0	)	$	56.6
Other comprehensive earnings (loss), before tax:
Foreign currency translation adjustment	(602.6		)	—			—		(602.6		)	602.6			(602.6		)
Change in unrecognized loss and prior service cost related to defined benefit plans	0.1			—			—		0.1			(0.1		)	0.1
Net unrecognized (loss) gain on derivatives	(34.5		)	(50.9		)	—		16.4			34.5			(34.5		)
Net unrealized gain (loss) on marketable securities	0.1			—			—		0.1			(0.1		)	0.1
Other comprehensive (loss) earnings, before tax	(636.9		)	(50.9		)	—		(586.0		)	636.9			(636.9		)
Income tax (benefit) provision	(13.0		)	(18.6		)	—		5.6			13.0			(13.0		)
Other comprehensive earnings (loss), net of tax	(623.9		)	(32.3		)	—		(591.6		)	623.9			(623.9		)
Comprehensive (loss) earnings attributable to Mylan N.V. ordinary shareholders	$	(567.3	)	$	20.1		$	—	$	(268.0	)	$	247.9		$	(567.3	)

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

As of March 31, 2016



(In millions)	Mylan N.V. (Parent Guarantor)		Mylan Inc. (Issuer)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Assets
Current assets:
Cash and cash equivalents	$	—	$	908.4	$	—	$	291.0	$	—		$	1,199.4
Accounts receivable, net	—		6.7		—		2,580.7		—			2,587.4
Inventories	—		—		—		2,144.1		—			2,144.1
Intercompany receivables	1,093.3		297.5		—		9,188.2		(10,579.0		)	—
Prepaid expenses and other current assets	23.2		151.6		—		521.9		—			696.7
Total current assets	1,116.5		1,364.2		—		14,725.9		(10,579.0		)	6,627.6
Property, plant and equipment, net	—		321.4		—		1,677.4		—			1,998.8
Investments in subsidiaries	10,460.1		8,569.6		—		—		(19,029.7		)	—
Intercompany notes and interest receivable	—		9,667.2		—		18.4		(9,685.6		)	—
Intangible assets, net	—		0.5		—		7,277.9		—			7,278.4
Goodwill	—		17.1		—		5,549.8		—			5,566.9
Other assets	—		78.1		—		1,094.3		—			1,172.4
Total assets	$	11,576.6	$	20,018.1	$	—	$	30,343.7	$	(39,294.3	)	$	22,644.1

LIABILITIES AND EQUITY
Liabilities
Current liabilities:
Trade accounts payable	$	—	$	28.3	$	—	$	1,047.9	$	—		$	1,076.2
Short-term borrowings	—		—		—		66.4		—			66.4
Income taxes payable	—		—		—		43.4		—			43.4
Current portion of long-term debt and other long-term obligations			1,014.5		—		68.0		—			1,082.5
Intercompany payables	297.5		10,281.5		—		—		(10,579.0		)	—
Other current liabilities	11.1		254.0		—		1,425.8		—			1,690.9
Total current liabilities	308.6		11,578.3		—		2,651.5		(10,579.0		)	3,959.4
Long-term debt	993.1		5,330.0		—		2.6		—			6,325.7
Intercompany notes payable	—		18.4		—		9,667.2		(9,685.6		)	—
Other long-term obligations	—		120.9		—		1,963.2		—			2,084.1
Total liabilities	1,301.7		17,047.6		—		14,284.5		(20,264.6		)	12,369.2

Total equity	10,274.9		2,970.5		—		16,059.2		(19,029.7		)	10,274.9

Total liabilities and equity	$	11,576.6	$	20,018.1	$	—	$	30,343.7	$	(39,294.3	)	$	22,644.1

UNAUDITED CONDENSED CONSOLIDATING BALANCE SHEET

As of December 31, 2015



(In millions)	Mylan N.V. (Parent Guarantor)		Mylan Inc. (Issuer)		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Assets
Current assets:
Cash and cash equivalents	$	—	$	870.5	$	—	$	365.5	$	—		$	1,236.0
Accounts receivable, net	—		14.4		—		2,674.7		—			2,689.1
Inventories	—		—		—		1,951.0		—			1,951.0
Intercompany receivables	1,097.5		283.2		—		8,936.4		(10,317.1		)	—
Other current assets	0.3		244.8		—		351.5		—			596.6
Total current assets	1,097.8		1,412.9		—		14,279.1		(10,317.1		)	6,472.7
Property, plant and equipment, net	—		324.4		—		1,659.5		—			1,983.9
Investments in subsidiaries	9,947.7		8,007.7		—		—		(17,955.4		)	—
Intercompany notes and interest receivable	—		9,704.4		—		18.7		(9,723.1		)	—
Intangible assets, net	—		0.5		—		7,221.4		—			7,221.9
Goodwill	—		17.1		—		5,363.0		—			5,380.1
Other assets	—		135.3		—		1,073.8		—			1,209.1
Total assets	$	11,045.5	$	19,602.3	$	—	$	29,615.5	$	(37,995.6	)	$	22,267.7

LIABILITIES AND EQUITY
Liabilities
Current liabilities:
Trade accounts payable	$	—	$	33.5	$	—	$	1,076.1	$	—		$	1,109.6
Short-term borrowings	—		—		—		1.3		—			1.3
Income taxes payable	—		—		—		92.4		—			92.4
Current portion of long-term debt and other long-term obligations	—		1,010.1		—		66.9		—			1,077.0
Intercompany payables	283.2		10,033.9		—		—		(10,317.1		)	—
Other current liabilities	2.0		320.1		—		1,519.8		—			1,841.9
Total current liabilities	285.2		11,397.6		—		2,756.5		(10,317.1		)	4,122.2
Long-term debt	994.5		5,298.4		—		2.7		—			6,295.6
Intercompany notes payable	—		18.7		—		9,704.4		(9,723.1		)	—
Other long-term obligations	—		122.2		—		1,961.9		—			2,084.1
Total liabilities	1,279.7		16,836.9		—		14,425.5		(20,040.2		)	12,501.9

Total equity	9,765.8		2,765.4		—		15,190.0		(17,955.4		)	9,765.8

Total liabilities and equity	$	11,045.5	$	19,602.3	$	—	$	29,615.5	$	(37,995.6	)	$	22,267.7

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2016



(In millions)	Mylan N.V. (Parent Guarantor)			Mylan Inc. (Issuer)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net cash (used in) provided by operating activities	$	(27.1	)	$	(139.4	)	$	—	$	247.0		$	—		$	80.5
Cash flows from investing activities:
Capital expenditures	—			(20.6		)	—		(31.2		)	—			(51.8		)
Change in restricted cash	—			—			—		—			—			—
Purchase of marketable securities	—			(0.5		)	—		(8.0		)	—			(8.5		)
Proceeds from sale of marketable securities	—			—			—		5.9			—			5.9
Investments in affiliates	—			(11.3		)	—		—			11.3			—
Loans to affiliates	(3.6		)	(1,465.6		)	—		(1,699.6		)	3,168.8			—
Repayments of loans from affiliates	32.8			12.2			—		7.2			(52.2		)	—
Payments for product rights and other, net	—			(0.1		)	—		(105.5		)	—			(105.6		)
Net cash (used in) provided by investing activities	29.2			(1,485.9		)	—		(1,831.2		)	3,127.9			(160.0		)
Cash flows from financing activities:
Payments of financing fees	(31.6		)	—			—		—			—			(31.6		)
Change in short-term borrowings, net	—			—			—		65.1			—			65.1
Proceeds from exercise of stock options	3.6			—			—		—			—			3.6
Taxes paid related to net share settlement of equity awards	(6.9		)	—			—		—			—			(6.9		)
Capital contribution from affiliates	—			—			—		11.3			(11.3		)	—
Payments on borrowings from affiliates	—			(40.0		)	—		(12.2		)	52.2			—
Proceeds from borrowings from affiliates	31.6			1,703.2			—		1,434.0			(3,168.8		)	—
Other items, net	1.2			—			—		(0.9		)	—			0.3
Net cash provided by (used in) financing activities	(2.1		)	1,663.2			—		1,497.3			(3,127.9		)	30.5
Effect on cash of changes in exchange rates	—			—			—		12.4			—			12.4
Net increase (decrease) in cash and cash equivalents	—			37.9			—		(74.5		)	—			(36.6		)
Cash and cash equivalents — beginning of period	—			870.5			—		365.5			—			1,236.0
Cash and cash equivalents — end of period	$	—		$	908.4		$	—	$	291.0		$	—		$	1,199.4

UNAUDITED CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2015



(In millions)	Mylan N.V. (Parent Guarantor)			Mylan Inc. (Issuer)			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated
Cash flows from operating activities:
Net cash provided by (used in) operating activities	$	1.0		$	(555.8	)	$	—	$	821.8		$	—		$	267.0
Cash flows from investing activities:
Capital expenditures	—			(9.5		)	—		(38.6		)	—			(48.1		)
Purchase of marketable securities	—			—			—		(40.1		)	—			(40.1		)
Proceeds from sale of marketable securities	—			—			—		12.2			—			12.2
Investments in affiliates	—			(115.7		)	—		—			115.7			—
Loans to affiliates	(16.4		)	(1,473.3		)	—		—			1,489.7			—
Repayments of loans from affiliates	—			—			—		(2,047.0		)	2,047.0			—
Payments for product rights and other, net	—			—			—		(11.5		)	—			(11.5		)
Net cash (used in) provided by investing activities	(16.4		)	(1,598.5		)	—		(2,125.0		)	3,652.4			(87.5		)
Cash flows from financing activities:
Payments of financing fees	—			(22.4		)	—		—			—			(22.4		)
Change in short-term borrowings, net	—			—			—		(161.6		)	—			(161.6		)
Proceeds from issuance of long-term debt	—			100.0			—		—			—			100.0
Payments of long-term debt	—			(100.0		)	—		—			—			(100.0		)
Proceeds from exercise of stock options	—			67.4			—		—			—			67.4
Taxes paid related to net share settlement of equity awards	—			(29.4		)	—		(2.3		)	—			(31.7		)
Capital contribution from affiliates	—			—			—		115.7			(115.7		)	—
Proceeds from borrowings from affiliates	—			15.4			—		1,474.3			(1,489.7		)	—
Payments on borrowings from affiliates	—			2,047.0			—		—			(2,047.0		)	—
Other items, net	15.4			23.9			—		—			—			39.3
Net cash provided by (used in) financing activities	15.4			2,101.9			—		1,426.1			(3,652.4		)	(109.0		)
Effect on cash of changes in exchange rates	—			—			—		(18.8		)	—			(18.8		)
Net (decrease) increase in cash and cash equivalents	—			(52.4		)	—		104.1			—			51.7
Cash and cash equivalents — beginning of period	—			112.9			—		112.6			—			225.5
Cash and cash equivalents — end of period	$	—		$	60.5		$	—	$	216.7		$	—		$	277.2
Supplemental disclosures of cash flow information —
Non-cash transactions:
Ordinary shares issued for acquisition	$	—		$	6,305.8		$	—	$	—		$	—		$	6,305.8