National Storage Mechanism | Additional information

FORM 38.5(b)

IRISH TAKEOVER PANEL

DISCLOSURE UNDER RULE 38.5(b) OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013

DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS WITHOUT RECOGNISED INTERMEDIARY STATUS, OR WITH RECOGNISED INTERMEDIARY STATUS BUT NOT DEALING IN A CLIENT-SERVING CAPACITY

1. KEY INFORMATION

Name of exempt principal trader	GOLDMAN SACHS & CO. LLC
Company dealt in	AVADEL PHARMACEUTICALS PLC
Class of relevant security to which the dealings being disclosed relate (Note1)	USD 0.01 ordinary shares
Date of dealing	12 January 2026

2. INTERESTS AND SHORT POSITIONS

(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 2)

	Long		Short
	Number	(%)	Number	(%)
(1) Relevant securities	605,846	(0.62)	480,260	(0.49)
(2) Derivatives (other than options)	39,256	(0.04)	47,084	(0.04)
(3) Options and agreements to purchase/sell	0	(0.00)	0	(0.00)
Total	645,102	(0.66)	527,344	(0.54)

(b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 2)

Class of relevant security:	Long		Short
	Number	(%)	Number	(%)
(1) Relevant securities
(2) Derivatives (other than options)
(3) Options and agreements to purchase/sell
Total

3. DEALINGS (Note 3)

(a) Purchases and sales

Purchase/sale	Number of relevant securities	Price per unit (Note 4)
Sale	143	21.5350 USD
Sale	143	21.5350 USD
Sale (Borrow Full Return)	8,100	N/A
Sale (Borrow Full Return)	4,500	N/A
Sale (Loan New)	62	N/A
Purchase (Loan Full Return)	62	N/A
Sale (Borrow Partial Return)	31,900	N/A
Sale (Borrow Full Return)	4,300	N/A
Sale (Borrow Full Return)	1,700	N/A
Sale (Borrow Full Return)	1,600	N/A
Sale (Loan New)	311	N/A
Sale (Borrow Full Return)	1,400	N/A
Purchase (Loan Full Return)	249	N/A

(b) Derivatives transactions (other than options transactions)

Product name, e.g. CFD	Nature of transaction (Note 5)	Number of relevant securities (Note 6)	Price per unit (Note 4)

(c) Options transactions in respect of existing relevant securities

(i) Writing, selling, purchasing or varying

Product name,e.g. call option	Writing, selling, purchasing, varying etc.	Number of securities to which the option relates (Note 7)	Exercise price	Type, e.g. American, European etc.	Expiry date	Option money paid/received per unit (Note 4)

(ii) Exercising

Product name,e.g. call option	Number of securities	Exercise price per unit (Note 4)

(d) Other dealings (including transactions in respect of new securities) (Note 3)

Nature of transaction (Note 7)	Details	Price per unit (if applicable) (Note 4)

4. OTHER INFORMATION

Agreements, arrangements or understandings relating to options or derivatives

Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated.

NONE

Is a Supplemental Form 8 attached? (Note 9) YES

Date of disclosure	13 January 2026
Contact name	Papa Lette and Andrzej Szyszka
Telephone number	+33(1) 4212 1459 / +48(22) 317 4817
Name of offeree/offeror with which connected	AVADEL PHARMACEUTICALS PLC
Nature of connection (Note 9)	Advisor to Offeree

SUPPLEMENTAL FORM 38.5(b)

IRISH TAKEOVER PANEL

DISCLOSURE UNDER RULE 38.5(b) OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013

DETAILS OF OPEN POSITIONS

OPEN POSITIONS (Note 1)

Product name,e.g. call option	Written or purchased	Number of relevant securities to which the option or derivative relates	Exercise price (Note 2)	Type, e.g. American, European etc.	Expiry date
Swap	Sold	84	0.0000	N/A	13/03/2026
Swap	Purchased	33,762	0.0000	N/A	20/01/2026

Notes

1. Where there are open option positions or open derivative positions (except for CFDs), full details should be given. Full details of any existing agreements to purchase or to sell must also be given on this form.

2. For all prices and other monetary amounts, the currency must be stated.

For full details of disclosure requirements, see Rules 8 and 38.5 of the Rules. If in doubt, consult the Panel.