Ireland - Amryt Pharma Plc ('Amryt') (Nasdaq: AMYT), a global, commercial-stage biopharmaceutical company dedicated to acquiring, developing, and commercializing novel treatments for rare diseases, is pleased to announce that the High Court of Justice of England and Wales has sanctioned the scheme of arrangement providing for the proposed acquisition (the 'Transaction') of Amryt by Chiesi Farmaceutici S.p.A. ('Chiesi') at a hearing held on March 31, 2023.

The parties expect the closing of the Transaction to take place in mid-April 2023.

About Amryt

Amryt is a global commercial-stage biopharmaceutical company focused on acquiring, developing and commercializing innovative treatments to help improve the lives of patients with rare and orphan diseases. Amryt comprises a strong and growing portfolio of commercial and development assets.

Forward-Looking Statements

This announcement contains forward-looking statements regarding Amryt, including, but not limited to, statements related to the proposed acquisition of Amryt and the anticipated timing thereof, and other statements that are not historical facts. You can generally identify forward-looking statements by the use of forward-looking terminology such as the words: 'anticipate,' 'believe,' 'continue,' 'could,' 'estimate,' 'expect,' 'explore,' 'evaluate,' 'intend,' 'may,' 'might,' 'plan,' 'potential,' 'predict,' 'project,' 'seek,' 'should,' or 'will,' or the negative thereof or other variations thereon or comparable terminology. These forward-looking statements are based on each of the companies' current plans, objectives, estimates, expectations and intentions and inherently involve significant risks and uncertainties, many of which are beyond Amryt's control.

Actual timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks and uncertainties associated with: Chiesi's and Amryt's ability to complete the acquisition on the proposed terms or on the anticipated timeline, or at all, including risks and uncertainties related to satisfaction of other closing conditions to consummate the acquisition; the occurrence of any event, change or other circumstance that could give rise to the termination of the definitive Transaction agreement relating to the proposed acquisition; risks related to diverting the attention of Chiesi's and Amryt's management from ongoing business operations; failure to realize the expected benefits of the acquisition; significant Transaction costs and/or unknown or inestimable liabilities; the risk of shareholder litigation in connection with the proposed Transaction, including resulting expense or delay; the risk that Amryt's business will not be integrated successfully or that such integration may be more difficult, time-consuming or costly than expected; Chiesi's ability to fund the cash consideration for the acquisition; the risks that the conditions to payment for the contingent value rights issued in connection with the Transaction will not be met or that such contingent value rights will otherwise never delivery any value to Amryt shareholders; risks related to future opportunities and plans for the combined company, including the uncertainty of expected future regulatory filings, financial performance and results of the combined company following completion of the acquisition; pharmaceutical product development and the uncertainty of clinical success; the regulatory approval process; disruption from the proposed acquisition, making it more difficult to conduct business as usual or maintain relationships with customers, employees or suppliers; effects relating to the announcement of the acquisition or any further announcements or the consummation of the acquisition on the market price of Amryt ADSs or ordinary shares; regulatory initiatives and changes in tax laws; market volatility and other risks and uncertainties affecting Amryt, including those described from time to time under the caption 'Risk Factors' and elsewhere in Amryt's Securities and Exchange Commission ('SEC') filings and reports, including the Scheme Circular published by Amryt in connection with the Transaction and furnished to the SEC on Form 6-K, Amryt's Annual Report on Form 20-F for the year ended December 31, 2021 and any filings on Form 6-K which Amryt has filed or may file in the future. Moreover, other risks and uncertainties of which Amryt is not currently aware may also affect Amryt's forward-looking statements and may cause actual results and the timing of events to differ materially from those anticipated. Investors are cautioned that forward-looking statements are not guarantees of future performance.

The forward-looking statements made in this announcement are made only as of the date hereof or as of the dates indicated in the forward-looking statements and reflect the views stated therein with respect to future events as at such dates, even if they are subsequently made available by Amryt on its website or otherwise. Amryt does not undertake any obligation to update or supplement any forward-looking statements to reflect actual results, new information, future events, changes in its expectations or other circumstances that exist after the date as of which the forward-looking statements were made other than to the extent required by applicable law.

Contact:

Joe Wiley

Tel: +353 (1) 518 0200

Email: ir@amrytpharma.com

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