Catalent, Inc. announced several initiatives reflecting its ongoing commitment to strong corporate governance and shareholder value creation. The Nominating and Corporate Governance Committee of the Board has recommended, and the Board has approved, the appointment of four new independent directors: Steven Barg, Frank D?Amelio, Stephanie Okey, and Michelle Ryan. With these appointments, Catalent?s Board of Directors will consist of 16 directors, 13 of whom are independent under the Company?s director independence standards.

It is expected that the 12 nominees recommended by In addition, John Greisch has been appointed Executive Chair of the Board and will also chair the new Strategic and Operational Review Committee, as discussed further below. Mr. Greisch is a proven operator and executive in the healthcare industry, with a track record of improving operational execution, enhancing financial performance, and unlocking shareholder value. He most recently served as President and CEO of Hill-Rom Holdings from 2010 to 2018.

Prior to that, Mr. Greisch was President, International Operations and CFO of Baxter. Mr. Greisch currently serves as chairman of the board of Viant Medical and as lead independent director on the board of Carrier Corporation, and formerly served on the boards of Cerner Corporation, Idorsia Pharmaceuticals, Hill-Rom Holdings, Actelion, and TomoTherapy. Additionally, he serves as a senior advisor to TPG Capital and is on the board of directors for the Ann & Robert H. Lurie Children?s Hospital of Chicago.

Catalent?s Board has also established a new Strategic and Operational Review Committee to conduct a review of the Company?s business, strategy and operations, as well as the Company?s capital-allocation priorities, in order to maximize the long-term value of the Company. The Strategic and Operational Review Committee will be chaired by Mr. Greisch and will include Mr. Barg, Ms. Ryan, Gregory T. Lucier and Jack Stahl. The Committee will make its recommendations to the full Board.

In connection with these initiatives, Catalent has entered into a Cooperation Agreement with Elliott Investment Management L.P., one of Catalent?s largest investors, under which Elliott has agreed to customary standstill, voting, confidentiality, and other provisions. Citi is serving as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP and Jones Day are serving as legal counsel to Catalent. Steven Barg is Global Head of Engagement at Elliott Investment Management L.P. Prior to joining Elliott in February of 2020, Mr. Barg spent 30 years in investment banking, most recently as a Participating Managing Director at Goldman Sachs.

During his time at Goldman Sachs, Mr. Barg established and led what became the firm's Global Activism and Shareholder Advisory practice; founded and led the M&A Capital Markets practice; and ran Asian Equity Capital Markets in Hong Kong. In addition, Mr. Barg served on both the Asian and Global Equity Commitments Committees and was Global Head of Diversity for the Investment Banking Division. Prior to joining Goldman Sachs, Mr. Barg served as a Managing Director in Equity Capital Markets at UBS and Credit Suisse, with postings in New York, Hong Kong, and London.

Mr. Barg has served on the Board of Directors of Cardinal Health since September 2022. Mr. Barg holds an M.B.A. from the Stanford University Graduate School of Business and a B.A. from Wesleyan University. In addition, Mr. Barg was a Henry Luce Scholar in Hong Kong and a Coro Fellow in Public Affairs in New York.

Frank D?Amelio is the former Chief Financial Officer and Executive Vice President, Global Supply, of Pfizer Inc. where he was responsible for all corporate finance functions including audit, controllers, tax, and treasury as well as global supply. Prior to joining Pfizer, Mr. D?Amelio served as Senior Executive Vice President of Integration and Chief Administrative Officer of Alcatel-Lucent, responsible for the 2006 Alcatel-Lucent merger as well as procurement, real estate, IT, and supply chain. Prior to that, Mr. D?Amelio was the Chief Operating Officer of Lucent Technologies, responsible for leading business operations, including sales, the product groups, the services business, the supply chain, information technology operations, human resources, and labor relations.

In 2001, he was appointed Executive Vice President and Chief Financial Officer of Lucent. In addition, Mr. D?Amelio held a number of roles while at Lucent Technologies, and before that, served in a variety of positions while at AT&T, including CFO, Transmission Systems and Controller, Network Systems. Mr. D?Amelio has served on the Board of Directors of Humana since September 2003, where he currently serves as Chair of the Audit Committee, on the Board of Directors of Zoetis, Inc. since July 2012, and on the Board of Directors of Hewlett Packard Enterprise since January 2023. He currently serves as a CFO in residence at the Deloitte CFO Academy.

Mr. D?Amelio holds an M.B.A. in Finance from St. John?s University and a bachelor?s degree in Accounting from St. Peter?s College.

Stephanie Okeyis the former Senior Vice President, Head of North America, Rare Diseases, and U.S. General Manager, Rare Diseases at Genzyme, a Sanofi company, where she worked for 19 years in various executive management roles. By the time of her retirement in July 2015, she had acquired launch and commercialization experience with nine rare disease therapeutics and 4 large market therapeutics during her career. Prior to joining Genzyme, Ms. Okey served in various positions of increasing responsibility in the biopharmaceutical industry, having held roles in field sales and marketing at Bristol Myers Squibb and later Genentech, Inc.Ms. Okey is currently a member of the board of directors of PTC Therapeutics, Inc. and Albireo Pharma, Inc., both publicly traded biopharmaceutical companies.

In addition, she previously served as a member of the board of directors of the California Life Sciences Association from October 2014 to January 2016. Ms. Okey holds a B.S. in Zoology from The Ohio State University and an M.S. in Immunology and Medical Microbiology from Wright State University. Effective as of August 28, 2023, (i) Mr. D?Amelio was appointed to the Compensation and Leadership Committee (the ?

Compensation Committee?) and the Quality and Regulatory Compliance Committee, (ii) Ms. Okey was appointed to the Compensation Committee and the Nominating Committee, and (iii) Ms. Ryan was appointed to the Audit Committee. On August 23, 2023, Steven Fasman informed the Company of his intent to resign as Executive Vice President and Chief Administrative Officer in order to take on a new opportunity outside of the Company. The Company and the Board express their deep appreciation to Mr. Fasman for his many contributions, dedication and outstanding service to the Company and wish him success in his new role.