The Board of Directors of Mallinckrodt plc appointed Don M. Bailey, Angus C. Russell and Virgil D. Thompson to serve as members of the Board until the 2015 annual general meeting of Mallinckrodt shareholders or such director's earlier resignation, removal or death. Messrs. Bailey, Russell and Thompson were appointed pursuant to the terms of the Merger Agreement.

In addition, immediately following the Effective Time and pursuant to the Merger Agreement, the Board established a new committee, the Portfolio Committee, to assist the Board in fulfilling its oversight responsibility with respect to its review and monitoring of major corporate actions. Mr. Bailey, Mark C. Trudeau, the President and Chief Executive Officer of Mallinckrodt, and Melvin D. Booth, the Chairman of the Board, were appointed to the Portfolio Committee. Mr. Bailey was appointed the Chair of the Portfolio Committee.

The Board expects to appoint each of Messrs. Bailey, Russell and Thompson to additional committees of the Board at its next regularly scheduled meeting. Mr. Thompson is also the Chairman of the board of directors of Aradigm Corporation, and is a member of the board of directors of Savient Pharmaceuticals Inc. Mr. Russell currently serves on the board of directors at InterMune Inc.