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(a) – (b):
The Facing Page for Dr. Kapoor sets forth the aggregate number
and percentage of common stock, no par value (the “Common Stock”), of Akorn of which Dr. Kapoor is the beneficial owner.
The shares of Common Stock reported on the Facing Page over
which Dr. Kapoor has sole dispositive and voting power include the following:
(i) 519,616 shares of
Common Stock owned directly by Dr. Kapoor, which amount includes 16,555 shares held pursuant to options exercisable currently or
within sixty days of the date hereof, and 1,165 restricted stock units scheduled to vest within sixty days of the date hereof;
(ii) 1,907,445 shares
of Common Stock owned by the John N. Kapoor Trust dated September 20, 1989 (the “Trust”), of which Dr. Kapoor is the
sole trustee and beneficiary;
(iii) 3,590,445 shares
of Common Stock owned by EJ Funds LP, a Delaware limited partnership, of which EJ Financial Enterprises, Inc., a Delaware corporation,
is the managing general partner (Dr. Kapoor serves as President and Chairman of the Board of the managing general partner and is
its sole owner);
(iv) 4,427,462 shares
of Common Stock owned by several trusts, the trustee of which is an employee of EJ Financial Enterprises, Inc. and the beneficiaries
of which are Dr. Kapoor’s children and various other family members;
(v) 2,970,644 shares of
Common Stock owned by EJ Financial / Akorn Management L.P., a Delaware limited partnership, of which Pharma Nevada, Inc., a Nevada
corporation, is the managing general partner (Dr. Kapoor serves as President and Chairman of the Board of the managing general
partner and is its sole owner);
(vi) 15,050,000 shares
of Common Stock owned by Akorn Holdings, LP, a Delaware limited partnership, of which EJ Financial Enterprises, Inc. is the general
managing partner.
The shares of Common Stock reported on the Facing Page over
which Dr. Kapoor has shared dispositive and voting power consists of 3,055,079 shares held by the John and Editha Kapoor Charitable
Foundation (the “Foundation”). Dr. Kapoor shares voting and dispositive power of the shares held by the Foundation
with his daughter.
(c)
On May 11, 2017, the Trust gifted 3,000,079 shares
of Common Stock to the Foundation. Dr. Kapoor shares voting and dispositive power of the shares held by the Foundation with his
daughter.
(d)
Inapplicable.
(e)
Inapplicable.
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