Ani Pharmaceuticals Inc.

Liquidity As of June 30, 2025, the Company had $217.8 million in unrestricted cash and cash equivalents, $225.7 million in net accounts receivable and $635.2 million in principal value of outstanding debt (inclusive of our senior convertible notes).

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025

The amendments in ASU 2025-09 more closely align hedge accounting with the economics of an entity s risk management activities for (i) similar risk assessment for cash flow hedges, (ii) hedging forecasted interest payments on choose-your-rate debt instruments, (iii) cash flow hedges of nonfinancial forecasted transactions, (iv) net written options as hedging instruments, and (v) foreign-currency-denominated debt instrument as hedging instrument and hedged item.

SEC original ↗Ani Pharmaceuticals Inc. — 10-Q Quarterly report10-QAug 7, 2026

2021 CREDIT FACILITY In connection with the acquisition of Novitium on November 19, 2021, the Company, as borrower, entered into a credit agreement (the 2021 Credit Agreement ) with Truist Bank and other lenders, which provided for credit facilities consisting of (i) a senior secured term loan facility in an aggregate principal amount of $ 300.0 million (the 2021 Term Facility ) and (ii) a senior secured revolving credit facility in an aggregate commitment amount of $ 40.0 million, which provided for revolving credit loans, swingline loans and letters of credit (the 2021 Revolving Facility, and together with the 2021 Term Facility, the 2021 Credit Facility ).

SEC original ↗Ani Pharmaceuticals Inc. — 10-Q Quarterly report10-QAug 7, 2026

The Company incurred $ 14.0 million in deferred debt issuance costs associated with the 2021 Credit Facility.

SEC original ↗Ani Pharmaceuticals Inc. — 10-Q Quarterly report10-QAug 7, 2026

Costs allocated to the 2021 Term Facility were classified as a direct reduction to the current and non-current portion of the borrowings, depending on their nature.

SEC original ↗Ani Pharmaceuticals Inc. — 10-Q Quarterly report10-QAug 7, 2026

14 Extinguishment of the 2021 Credit Facility On August 13, 2024, the Company entered into an indenture with U.

SEC original ↗Ani Pharmaceuticals Inc. — 10-Q Quarterly report10-QAug 7, 2026

Our Generics business achieved another strong quarter fueled by new product launches and operational excellence, and our initiatives to improve the performance of our retina franchise yielded positive results.

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025

ANI advanced several key initiatives during the quarter, including executing on the addition of the chronic NIU-PS indication to ILUVIEN s label and fully transitioning U.

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025

The Company is focused on delivering sustainable growth through its Rare Disease business, which markets novel products in the areas of ophthalmology, rheumatology, nephrology, neurology, and pulmonology its Generics business, which leverages R D expertise, operational excellence, and U.

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025

Adjusted non-GAAP EBITDA is defined as net income (loss), excluding tax expense, interest expense, net, other (income) expense, net, depreciation and amortization expense, non-cash stock-based compensation expense, M A transaction and integration expenses, contingent consideration fair value adjustments, unrealized (gain) loss on our investment in equity securities, gain on sale of the former Oakville, Ontario manufacturing site, litigation expenses related to certain matters, severance expense, and certain other items that vary in frequency and impact on ANI s results of operations.

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025

Adjusted non-GAAP net income is defined as net income (loss), plus the non-cash stock-based compensation, non-cash interest expense, depreciation and amortization, M A transaction and integration expenses, contingent consideration fair value adjustment, unrealized (gain) loss on our investment in equity securities, gain on sale of the former Oakville, Ontario manufacturing site, litigation expenses related to certain matters, severance expense, and certain other items that vary in frequency and impact on ANI s results of operations, less the tax impact of these adjustments calculated using an estimated statutory tax rate.

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025

Non-GAAP selling, general, and administrative expenses is defined as selling, general, and administrative expenses, excluding non-cash stock-based compensation expense, M A transaction and integration expenses, litigation expenses related to certain matters, severance expense, and certain other items that vary in frequency and impact on ANI s results of operations.

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025

ANI s management also considers non-GAAP gross margin to be a financial indicator of ANI s operating performance, providing investors and analysts with a useful measure of operating results unaffected by unaffected by non-cash stock-based compensation expense, M A transaction and integration expenses, contingent consideration fair value adjustments, unrealized (gain) loss on our investment in equity securities, gain on sale of the former Oakville, Ontario manufacturing site, litigation expenses related to certain matters, severance expense, and certain other items that vary in frequency and impact on ANI s results of operations.

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025

Uncertainties and risks may cause the Company s actual results to be materially different than those expressed in or implied by such forward-looking statements.

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025

tax legislation on our business, including the One Big Beautiful Bill Act and general business and economic conditions, such as inflationary pressures, geopolitical conditions including but not limited to the conflict between Russia and the Ukraine, the conflict in the Middle East, conflicts related to the attacks on cargo ships in the Red Sea, and the effects and duration of outbreaks of public health emergencies, and other risks and uncertainties that are described in ANI s Annual Report on Form 10-K, quarterly reports on Form 10-Q, and other periodic reports filed with the Securities and Exchange Commission.

SEC original ↗Ani Pharmaceuticals Inc. — Earnings release (8-K exhibit)EX-99Aug 8, 2025