X0306 4 2018-03-07 0000885590 Valeant Pharmaceuticals International, Inc. VRX 0001558676 Eldessouky Sam 400 SOMERSET CORPORATE BOULEVARD BRIDGEWATER NJ 08807 1 SVP, CHIEF ACCOUNTING OFFICER Common Stock, No Par Value 2018-03-07 4 A 0 10654 0 A 69259 D Non-qualified Stock Options (right To Purchase) 15.32 2018-03-07 4 A 0 31697 0 A 2028-03-07 Common Shares, No Par Value 31697 31697 D Restricted Share Units 2018-03-07 4 A 0 7104 0 A 2021-03-07 Common Stock 7104 7104 D Represents the award of restricted share units ("RSUs") which will vest one-third on each of the first three anniversaries following the date of grant, subject to the reporting person's continued service. Vested RSUs are settled in common shares, no par value ("Common Shares"), of Valeant Pharmaceuticals International, Inc. ("Valeant"). The options vest in equal installments on each of the first three anniversaries of the date of grant. Represents a grant of performance-based RSUs. The target number of performance-based RSUs granted to the reporting person was 3,552 and the maximum number that can be distributed is 7,104. The performance-based RSUs shall vest and be distributed between 0-200% of target based on Valeant's Total Shareholder Return ("TSR") as measured for the 20 trading days preceding the TSR Measurement Date ("Measurement Date") which is the third anniversary of the grant date (March 7, 2021). If Valeant's TSR for the period between the grant date and the Measurement Date is below the 50th percentile ranking of the TSR for the applicable peer group based on the 20 trading days preceding the Measurement Date, the reporting person will receive no more than the number of Common Shares equal to the target number of performance-based RSUs subject to the award. /s/ Kirsten O'Donnell, attorney-in-fact for Sam Eldessouky 2018-03-09