PERRIGO Co plc

NOTE 18 -SUBSEQUENT EVENTS

Divestitures

On July 13, 2025, we entered into a binding agreement to sell our Dermacosmetics branded business in Northern Europe, the Netherlands and Poland (the "Dermacosmetics Business") to Kairos Bidco AB ("Kairos") for total consideration of up to €327 million, consisting of an upfront cash payment of €300 million to be paid by Kairos at closing, subject to customary adjustments, and up to €27 million in potential earn-out payments based on the Dermacosmetics Business achieving certain performance thresholds. The transaction is expected to close during the first quarter of 2026.

The criteria for reporting our Dermacosmetics Business disposal group as held for sale were met after the balance sheet date, and therefore we classified the business as held and used as of June 28, 2025. Held for sale measurement will be assessed during the third quarter of 2025.

On August 1, 2025, we entered into a deal-contingent EUR/USD forward contract of €300 million to hedge foreign exchange risk related to the proceeds expected for the planned divestiture. The contract is contingent on the successful closing of the transaction. If the divestiture does not close by January 13, 2027, the derivative will be terminated with no settlement obligation.