X0206 3 2019-04-11 0 0001618835 Evofem Biosciences, Inc. EVFM 0000882104 PDL BIOPHARMA, INC. 932 SOUTHWOOD BOULEVARD INCLINE VILLAGE NV 89451 0 0 1 0 Common Stock 6666667 D Warrants 6.38 2019-10-11 2026-04-11 Common Stock 1666667 D Pursuant to that certain Securities Purchase Agreement, dated as of April 10, 2019, by and among the Issuer, the Reporting Person and the other parties thereto, prior to approval by the Issuer's shareholders of the issuance of the shares of Common Stock and Warrants, the Reporting Person is prohibited from exercising any portion of the Warrants to the extent the Reporting Person would beneficially own more than 19.99% of the Issuer's outstanding Common Stock immediately after exercise. PDL BioPharma, Inc., By: /s/ Peter S. Garcia, Name: Peter S. Garcia, Title: Chief Financial Officer 2019-04-18