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LOTUSBUILDING A PAN-REGIONAL LEADER

April 2015

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Safe Harbor Statement

Except for historical information contained herein, the matters set forth in this presentation are forward

looking statements that are subject to risks and uncertainties that could cause actual results to differ

materially. These forward looking statements are not based on historical facts but rather on

management’s expectations regarding future growth, results of operations, performance, future capital

and other expenditures, competitive advantages, business prospects and opportunities. Statements in

this presentation about our future plans and intentions, results, level of activities, performance, goals or

achievements or other future events constitute forward looking statements. Wherever possible, words

such as “anticipate”, “believe”, “expect”, “may”, “could”, “will”, “potential”, “intend”, “estimate”, “should”,

“plan”, “predict”, or the negative or other variations of statements reflect management’s current beliefs

and assumptions and are based on the information currently available to our management. Investors

are cautioned not to place undue reliance on these forward looking statements, which are made

as of the date of this presentation and we assume no obligation to update or revise any forward

looking statements.

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COMPANY OVERVIEW

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COMPANY OVERVIEW

• Research-based company focused on innovative development of difficult to make generic pharmaceuticals

• 63.4% owned by Alvogen, a specialty pharmaceutical company with global presence, focusing on developing, manufacturing and marketing of generic and OTC pharmaceuticals, as well as biosimilars

• #1 in South Korea in terms of sales from anti-obesity drug, and strong presence in Taiwan for oncology and CNS generic drugs

• Current product portfolio comprises 250+ marketed products

• Robust pipeline focusing on oral oncology and high potency, soft gel drugs

• Experienced in-house sales team with a strong emphasis on marketing, covering ~10,000 clinics, hospitals and pharmacies / drugstores in Asia Pacific

• 1 US GMP and EU EMA approved manufacturing facility, 2KGMP approved manufacturing facilities and R&D centers with 140+ generic drug submissions for past 4 years

Pioneer in the Asia Pacific Generic Pharmaceutical Industry

• Robust international pipeline:

– 8 products for Japan in pipeline

– 4 products for EU Asia scope in pipeline

– 9 products filed in China

– 10 products in pipeline / filed ANDA for US

Strong Pipeline

Market Leader in the Highly Attractive Asia Pacific Generic Pharmaceutical Industry

Strong Growth and Margin

2014

1,155

(544)

50 %

Gross Profit

Net Profit

Gross Margin

Revenue 2,310

NT$ MM

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37

(18)

50 %

75

US$ MM1

1 based on USD / TWD FX rate of 30.918.

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COMPANY OVERVIEW

Lotus History and Key Milestones

1966

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Manufacturing Facility Obtained

Japan PMDA Approval

Lotus Acquired Dream Pharma

(Dec 19)

Founded in 1966

Manufacturing Facility Obtained

U.S. FDA Approval

First Product Launch in the

U.S.

Manufacturing Facility Obtained E.U. EMA

Approval

First Product Launch in Japan

� Alvogen Became a Major Shareholder of Lotus (Aug 11)� Lotus Acquired Alvogen’s South Korea, Taiwan and India Businesses

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COMPANY OVERVIEW

Shareholding Structure

Page I 6Note: as of March 10, 2015

Alvogen Asia Pacific

Holdings Ltd.

63.4%

Public Shareholders

36.6%Lotus Pharmaceutical

Co., Ltd.

(Taiwan)

Alvogen Taiwan(Taiwan)

100.0% 100.0%

100.0%

100.0%

Lotus Tab, Ltd

(UK)

Lotus Pharmaceutical,

HK Inc.

(HK) 美喬生技有限公司美喬生技有限公司美喬生技有限公司美喬生技有限公司(Taiwan)

100.0%

Alvogen Korea Ltd. (Korea)

KunWha Pharmaceutical Co., Ltd. (Korea)

Dream Pharmaceutical Co., Ltd.(Korea)

100.0%

82.5% 100.0%

98.0%

Alvogen Pharma India Pvt Ltd.(India)

Norwich Clinical Services Pvt Ltd. (India)

100.0%

100.0%樂特仕生物科技樂特仕生物科技樂特仕生物科技樂特仕生物科技諮詢諮詢諮詢諮詢(上海上海上海上海)有限公司有限公司有限公司有限公司(China)

Lotus International Pte.

Ltd.

(Singapore)

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COMPANY OVERVIEW

• An international privately-owned specialty pharmaceutical company focused on the development, manufacturing and marketing of generic pharmaceuticals, biosimilar and OTC products

• Led by Chairman/CEO Robert Wessman and management team that previously worked at Delta / Actavis Group

• Robust product portfolio consists of a broad range of molecules for treating conditions in the fields of oncology, cardiology, respiratory, neurology and gastroenterology

• Deep experience in generic drug development with an strong track record of growth through organic growth and acquisitions

• Has manufacturing capabilities in US, Romania, South Korea and Taiwan, and commercial operations in over 30 countries

• Geographic presence across the U.S., Central and Eastern Europe as well as Asia (Korea, Taiwan, China, Japan, India, etc.)

• Alvogen’s total revenue grew at a CAGR of 77% from 2009 to 2014 with 59% from organic growth

Alvogen Overview Alvogen Support

Alvogen Today

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• Alvogen is committed to support Lotus for future growth to achieve

its target to become top-5 regional player in the APAC region by

leading industry consolidation

• Alvogen formally became a major shareholder in Lotus in August

2014, currently owning approximately 63.4 % of outstanding

shares following a private placement

• As a part of the transaction, Lotus acquired 3 of Alvogen’s

businesses in Asia: South Korea, Taiwan and India

• Securing distribution rights for biosimilar products currently under

development by Alvogen’s sister company AlvoTech

• Furthermore, Lotus’ subsidiary Kunwha acquired Dream

Pharma in South Korea in December 2014

• Co-development with Lotus with a focus on U.S. difficult-to-make /

high barrier products, i.e. oncology orals, hormones and soft gels

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INVESTMENT HIGHLIGHTS

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INVESTMENT HIGHLIGHTS

Investment Highlights

1 Well-positioned in a Highly Attractive and Fast Growth Markets

2 High Growth via Strategic M&As and Organic Growth

3Strong R&D and Solid Manufacturing Capabilities Delivering Top Quality Drugs

4 Broad Pipeline that Delivers Sustainable Growth

5 Strong Sales Forces and Distribution Channels in Key Markets

6Solid Integration Capabilities and Management Team that Extract Synergies and Generate Value

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INVESTMENT HIGHLIGHTS

• #1 in South Korea in terms of sales from anti-obesity drug, and strong presence in Taiwan for oncology and CNS generic drugs

• Strong access to U.S., Japan and other emerging markets, including Eastern Europe and Southeast Asia through local partnerships and Alvogen’s platform

• Current product portfolio comprises 250+ marketed products

• Pioneer in the generic pharmaceutical industry with innovative capabilities

• Extensive expertise in developing, manufacturing and marketing of generic drugs

Strong Market Leadership

• Strong government policy support

• Substantial unmet demand and low penetration

• Increasing adoption of generic drugs

Focus on Highly Attractive Generic Pharmaceutical Markets

Well-positioned in a Highly Attractive and Fast Growth Markets

Quality products

targeting select

therapeutic areas

Expansion of existing

product market share

and faster

commercialization

of new products

Strong brand

and market leadership

capturing industry

consolidation

opportunities

Economies of scale

increasing production

efficiency and sales

effectiveness

118 129143 154 165

179192

20622021.7% 23.2% 25.1% 26.1% 27.5% 28.4% 29.3% 30.1% 30.9%

-7%

3%

13%

23%

33%

0

50

100

150

200

250

300

2011 2012 2013 2014 2015E 2016E 2107E 2018E 2019E

Lotus' Key Generic Pharmaceutical Market

As % of Total Pharmaceutical Market

US$ bnLotus’ Key Generic Pharmaceutical Market1

1 Includes South Korea, Taiwan, Japan, U.S. and China Page I 10

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INVESTMENT HIGHLIGHTS

• Double digit growth per year

• Aggressive product launches across the APAC region – 26 products selected and roll out started into Korea and other Asian markets

• Gain further market share in existing and new markets

Organic GrowthStrategic M&As

High Growth via Strategic M&As and Organic Growth

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• Alvogen, Lotus’ shareholder with robust M&A track record, is committed to support Lotus for future growth to achieve its target to become top-5 multinational generic pharmaceutical player in APAC

• Minimum overlap in product offerings across the markets and launches of current products across markets

• Aim to lead market consolidation in APAC

M&A Strategies

• Solidify our leadership position in Asia Pacific generic pharmaceutical market and capture opportunities

ahead of industry consolidation in the region

• Strengthen product portfolio in our focused therapeutic areas

– Acquire or invest in companies with generic pharmaceutical products or candidates that complement

our existing product portfolio

Selection Criteria

• Targets with strong generic drug submission capabilities or attractive products / candidates

• Targets’ products need to have strong market potential, potential synergies, and minimal overlap with

existing product portfolio or pipeline

• Opportunities with restructuring opportunities (balance sheet management, non core asset disposal

opportunities)

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INVESTMENT HIGHLIGHTS

• In-house R&D capabilities

• Collaboration with industry leading companies and research institutions

• Systematically acquires and integrates targets with solid development and commercialization track record

Strong Development Capability

• Integrated capabilities spanning a wide-range of therapeutic areas:– Strategically focus on oral oncology

and high potency, soft gel drugs– 8 products for Japan in pipeline– 4 products for EU Asia scope in

pipeline– 9 products filed in China– 10 products in pipeline / filed ANDA

in the US• Solid contract research organization in

India:– Facilitates oncology studies– Quick patient enrollment

Integrated R&D Platform

Integrated R&D

Capabilities with a

proven track record

of successful

innovations

• FDA, EU GMP and Japan PDMA approved production facilities focusing on high potency and cytotoxic products

• Provides oncology contract manufacturing organization services to Japanese pharmaceutical companies

• Analytic process development for quality control and assurance

Multiple Manufacturing Platforms

Strong R&D and Solid Manufacturing Capabilities Delivering Top Quality Drugs

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INVESTMENT HIGHLIGHTS

Broad Pipeline that Delivers Sustainable Growth

Note: data as of Mar, 2015; Source of originator’s sales: IMS data Page I 13

Biosimilars

• Lotus and Alvogen/AlvoTech signed distribution agreements for two key biosimilars currently under

development by Alvotech. These products will be launched in 2019 and onwards

• Lotus will market and distribute these biosimilars in the following APAC markets: Taiwan, China, Vietnam,

South Korea, Thailand, Hong Kong, Philippines, Malaysia, Indonesia, Singapore and Myanmar

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INVESTMENT HIGHLIGHTS

Strong Sales Forces and Distribution Channels in Key Markets

Presence Access Partnership

Headquarter Branch Offices

Taipei

South Korea

UK

Shanghai

• Covering a network of ~10,000 clinics, hospitals and pharmacies / drugstores with internal sales force in key markets including South Korea and Taiwan, as well as local partners in China, Eastern Europe, Southeast Asia and the U.S.

• Experienced sales force with product expertise

• Strong management team with executives and regional managers who have years of experience in the pharmaceutical industry

Dominant Market Position

• Well recognized by clinics, hospitals and pharmacies / drugstores

• Effectively market and sell existing products and new products

• Foundation for cross-selling products targeting fast-growing / core therapeutic areas

Strong Brand Recognition

Indian

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INVESTMENT HIGHLIGHTS

Solid Integration Capabilities and Management Team that Extract Synergies and Generate Value

Extensive Experience

Senior management team has comprehensive experience up to 20 years in the pharmaceutical industries

In-depth Knowledge

Many have worked with leading global pharmaceutical companies. They bring extensive M&A and industry experience and in-depth knowledge

Diversified Exptertise

Experience and expertise range from research and development to manufacturing, sales, marketing and distribution

Dr. Jon Valgeirsson, VP of R&D APAC

Dr. Saral Thangam, CEO Norwich Clinical Services (CRO India)

Jade Lee, Regional HR Director

Sunny Chen, Regional Supply Chain Manager

Dr. Chung R. Kim, Regional Quality Director

Renaat JanssenCEO Lotus

Previously Executive Director at PPD; Global COO at Besins Healthcare; various senior management positions at Invida, previously known as Pharmalink

Siegfried GschliesserDeputy CEO Lotus and GM Taiwan

Joined Alvogen in 2010 as regional head of Business development as well as the country manager for Taiwan

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David YoungRegional CFO

Previously CFO of SemiLEDs Corporation, (NASDAQ: LEDS), VP of sourcing, accounting and finance at Payless Shoesource, formally NYSE company

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GROWTH STRATEGIES

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Unlock Value Through Realizing M&A Synergies

STRATEGIES

Lotus is Committed to Deliver Value-Driven Medicine

Further Develop Asia Pacific and US Generic Pharmaceutical Markets

Expand Product Portfolio through Strategic M&A

Expand Our Network of Sales and Marketing Personnel to

Further Promote Our Products

Strong Support From Major Shareholder - Alvogen

2

3

5

6

1

4

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FINANCIAL HIGHLIGHTS

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FINANCIAL HIGHLIGHTS

FY2014 Results Update

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2015 OUTLOOK

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2015 OUTLOOK

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Goals in 2015

2015 Outlook

• Successful integration of Dream Pharma and Kunwha in South Korea

• Further expand Lotus’ export business by launching more products in the U.S.

• Achieve solid profit and positive EPS

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APPENDIX

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Appendix I: Lotus’ Key Generic Pharmaceutical Markets

37.6 45.8 55.1 62.6 69.6 77.1 84.8 92.4 99.9

59.4 61.4

66.8 69.8

74.6 79.4

84.1 88.9

94.0

7.7 6.7

7.0 7.4

7.6 8.2

8.6 9.0

9.4

1.2 1.4

1.4

1.5 1.5

1.6

1.7 1.8

1.9

12.2 13.6

12.3 12.3

11.6 12.4

13.3 14.3

15.3

118.1 129.0

142.5 153.5

164.9 178.8

192.5 206.4

220.5

21.7 %23.2 %

25.1 %26.1 %

27.5 %28.4 %

29.3 %30.1 %

30.9 %

0%

5%

10%

15%

20%

25%

30%

35%

0

50

100

150

200

250

300

2011 2012 2013 2014 2015E 2016E 2107E 2018E 2019E

China US South Korea Taiwan Japan As % of Total Pharmaceutical Market

US$ bn

• Leveraging existing production capabilities and commercial network to further penetrate markets outside of South Korea and Taiwan

• Building regional platform for future growth across Asia Pacific

• Strong access to China and U.S. markets through Alvogen

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APPENDIX

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Kunwha Pharma – Acquired by Lotus in January, 2014

Key Milestone• Founded in 1958

• Acquired by Alvogen in October, 2012

Business Mix• Prescription, OTC, medical device sales, export, consignment business

• 72 molecules (99 products)

Production • Plant in Gongju: 46,893m2

Sales Network • 14 district sales organizations

Employee / Office• 257 employees with 9 different functions

• Headquartered in Seoul

APPENDIX

Appendix II: Recent Acquisitions

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Dream Pharma – Acquired by Lotus Subsidiary Kunwha in December, 2014

Key Milestone

• Established as the pharmaceutical division of Hanwha Corporation (March 1996)

• Changed the company name to DreamPharma Corporation (January 2005)

• Acquired Meditech Korea Pharm Co., Ltd. (September 2006)

Product Mix

• Anti-obesity drugs (56% of 2013 revenue): unrivalled #1 player in Korea with c.35% M/S

• Prescription (“Rx”) (37% of 2013 revenue): competitive advantages possessed in antibiotics, antifungal drug, hyperlipidemia treatment

• Possesses two OTC products and a closure of esthetique business completed in 2013

R&D

• Leading R&D personnel: 79% with a postgraduate degree, 34% with a pharmaceutical career experience of at least 10 years

• Secured Korea’s New Drug Development Technical Award for Bonviva Plus (February 2014)

Production• Production and quality assurance of 106 drug items through in-house production (57 items) and outsourced

production (49 items) compliant with KGMP (Korea Good Manufacturing Practice)

Sales Network • c.3,650 clinics and c.70 general hospitals in Korea

Employee / Office• 365 employees in total as at the end of March 2014 – G&A (34), R&D (39), S&M (179), Plant (113)

• Operates 8 branches and 2 sales offices nationwide

APPENDIX

Appendix II: Recent Acquisitions

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APPENDIX

Appendix II: Recent corporate action in Korea

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Merger timeline Date

Board resolution for the execution of merger agreement March 17 2015 Completed

Disclosure of Board resolution and relevant filing March 17 2015 Completed

Execution of merger agreement March 18 2015 Completed

Confirm the shareholders on shareholder registry April 1 2015 Completed

Announcement of small scale merger April 1 2015 Completed

Closure of shareholders’ registry April 2 - April 9 2015

Receipt of notice from dissenting shareholders April 2 – April 16 2015

Board resolution to approve the merger April 27 2015

Dissenting creditor notification process April 28 – May 29 2015

Merger date June 1 2015

Merger between Kunwha Pharmaceutical and Dream Pharma Corporation

• Since Dream Pharma is 100% owned by Kunwha Pharmaceutical, the merger can be completed as small-scale merger to Kunwha / short-form merger to Dream Pharma. Only board meeting of two entities are required unless 20% of shareholders notified its objection towards to merger between two entities

• Minority shareholders of Kunwha only account for 17.5% - no shareholders’ objection is expected

• Merger ratio – 1:0 (Kunwha/Dream)