EFTA01457578

27 May 2015 Biotechnology Retrophin RTRX DCF [Figure 1: RTRX DCF B BIOTECH RETROPHIN DCF DCF. SST DB BIOTECH: RTRX • DISCOUNTED CASH FLOW UI iess, Tapes 474,444 aild:0GA 111%,11111,044114401414111 NM:00U 6441411,44% MtwINR+PN5— Livx7e 0.44411440 ▪ vw4n/ Calor 4.44•44•10414101.19ews *V Cats flow, (SIM /./ Tv 6141 MV Tut. (WI • Cant(Deb0 Net 0501/144,4 /1 !ISSN at waded vol. 114 11106 of 00:01vslut 1111 NPV Cash Flows + TV 12,44.‘ 464strullng 47 $1.612 5751 52.11.4 $52 501001.' 0140404 Ss* ]0151 70144 70171 70141 70101 70/01 7071! 70771 70711 70741 70.711 707“ 70771 miff 70791 $, en $ 0 0" 1x7 (Sal 1'5291 13 41f 15151 S 1 ra 1%11 MC* 5714 ISM 15107) BAY i OK .2. 15105) now Ata 151511 ;43mi 0031 rims 151911 9301 (51971 37(% t$20') viz" (sin) 3> 10 Si Si Si 52 3I 52 $2 52 51 Si 53 51 Si 1541 510 52 511 ft Si SO 511 In 511 ($10) MIA 50 50 WTI ISM 1541 I5) 5541 ISO $59) Mg (III (54 0/1 1541 1541 1541 ISO (A Pe SM SU Of $11, 5441 584 $379 OM UN SC50 5247 Hai Mn fate 52315 1114 2144 '4% 32% Ili 171 24% X% 41% .71% 314 41% 0 071 277 I's En n 675 777 an 971 1075 1171 12.75 1175 1175 1 01 Oil 044 017 030 044 040 051 444 041 019 0% Ott 0.10 017 027 PI 551 Su 5210 SD 590 5123 5vn SIM 5140 5217 5103 5119 5112 539 5713 Deutsche Bank Securities Inc Page 3 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0117183 CONFIDENTIAL SDNY_GM_00263367 EFTA01457578