<p>RNS 编号：8072M 摩根士丹利欧洲证券公司 2025 年 12 月 24 日</p>
<p>表格 38.5(b)(EPT/NON-RI)</p>
<p>爱尔兰收购委员会</p>
<p>开盘头寸披露/交易披露</p>
<p>根据爱尔兰收购委员会 1997 年法案第 38.5(b) 条和第 38.6 条</p>
<p>的收购规则，2022 年由一名关联的</p>
<p>豁免主要交易员，无需认可的</p>
<p>中介身份，或具有认可的中介</p>
<p>身份但不以客户服务的身份进行交易</p>
<p>1. 关键信息</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>(a) 豁免主要交易员名称：</td>
<td>摩根士丹利欧洲证券公司</td>
</tr>
<tr>
<td>(b) 与本表相关的要约方/被要约方的名称：</td>
<td></td>
</tr>
<tr>
<td>每个要约方/被要约方使用单独的表格</td>
<td>Avadel Pharmaceuticals plc</td>
</tr>
<tr>
<td>(c) 与豁免主要交易员相关的要约方名称：</td>
<td></td>
</tr>
<tr>
<td>（注 1）</td>
<td>Avadel Pharmaceuticals plc</td>
</tr>
<tr>
<td>(d) 持有头寸/进行交易的日期：</td>
<td></td>
</tr>
<tr>
<td>对于开盘头寸披露，请说明披露前的最新可行日期</td>
<td>2025 年 12 月 23 日</td>
</tr>
<tr>
<td>(e) 除上述 1(b) 中的公司外，豁免主要交易员是否还在披露任何其他要约方的信息？</td>
<td></td>
</tr>
<tr>
<td>如果是现金要约或可能的现金要约，请说明 “N/A”</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<p>2. 利益和空头头寸</p>
<p>如果需要披露的要约方或被要约方在 1(b) 中提到的相关证券的多个类别中存在利益和空头头寸，请为每个额外类别复制表格 2。</p>
<p>与披露相关的要约方或被要约方的相关证券的利益和空头头寸（如有）在交易后的情况（注 2）</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别：</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>（注 3）</td>
<td>0.01 普通股</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td></td>
<td>利益</td>
<td>空头头寸</td>
<td></td>
<td></td>
</tr>
<tr>
<td>数量</td>
<td>%</td>
<td>数量</td>
<td>%</td>
<td></td>
</tr>
<tr>
<td>(1) 拥有和/或控制的相关证券：</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
<tr>
<td>(2) 现金结算衍生品：</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
<tr>
<td>(3) 股票结算衍生品（包括期权）和购买/出售协议：</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
<tr>
<td>总计：</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
</tbody>
</table>
<p>所有利益和所有空头头寸均应披露。</p>
<p>包括认购新证券的权利和任何开放的股票结算衍生品头寸（包括交易期权）或购买或出售相关证券的协议的详细信息，应在补充表格 8 中提供。</p>
<p>3. 豁免主要交易员的交易（如有）</p>
<p>（注 4）</p>
<p>如果在 1(b) 中提到的要约方或被要约方的多个类别的相关证券中有交易，请为每个额外类别复制表格 3(a)、(b)、(c) 或 (d)（视情况而定）。</p>
<p>所有价格和其他货币金额的货币应予以说明。</p>
<p>（a）购买和销售</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>购买/销售</td>
<td>证券总数</td>
<td>每单位支付/收到的最高价格</td>
<td>每单位支付/收到的最低价格</td>
</tr>
<tr>
<td>0.01 普通股</td>
<td>购买</td>
<td>3,791</td>
<td>21.5675 美元</td>
<td>21.5675 美元</td>
</tr>
<tr>
<td>0.01 普通股</td>
<td>销售</td>
<td>3,791</td>
<td>21.5675 美元</td>
<td>21.5675 美元</td>
</tr>
</tbody>
</table>
<p>（b）现金结算衍生品交易</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>N/A</td>
</tr>
<tr>
<td>产品描述 例如 CFD</td>
<td>N/A</td>
</tr>
<tr>
<td>交易性质 例如 开盘/平仓</td>
<td>N/A</td>
</tr>
<tr>
<td>参考证券数量（注 5）</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位价格（注 6）</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<p>（c）股票结算衍生品交易（包括期权）</p>
<p>（i）书写、出售、购买或变更</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>N/A</td>
</tr>
<tr>
<td>产品描述 例如 认购期权</td>
<td>N/A</td>
</tr>
<tr>
<td>书写、购买、出售、变更等</td>
<td>N/A</td>
</tr>
<tr>
<td>与期权相关的证券数量（注 5）</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位行使价格</td>
<td>N/A</td>
</tr>
<tr>
<td>类型 例如 美式、欧式等</td>
<td>N/A</td>
</tr>
<tr>
<td>到期日期</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位支付/收到的期权金</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<p>（ii）行使</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>N/A</td>
</tr>
<tr>
<td>产品描述 例如 认购期权</td>
<td>N/A</td>
</tr>
<tr>
<td>行使/已行使</td>
<td>N/A</td>
</tr>
<tr>
<td>证券数量</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位行使价格（注 6）</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<p>（d）其他交易（包括新证券的交易）</p>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>N/A</td>
</tr>
<tr>
<td>交易性质 例如 认购、转换、行使</td>
<td>N/A</td>
</tr>
<tr>
<td>详细信息</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位价格（如适用）（注 6）</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<p>4. 其他信息</p>
<p>（a）赔偿和其他交易安排</p>
<ul>
<li>任何赔偿或期权安排的详细信息，或任何协议或理解，无论是正式还是非正式，涉及可能诱使豁免主要交易员进行或避免进行交易的相关证券，豁免主要交易员与任何要约方或与要约方协同行动的任何人之间的协议：不可撤销的承诺和意向书不应包括。如果没有此类协议、安排或理解，请说明 “无”</li>
<li>无</li>
</ul>
<p>（b）与期权或衍生品相关的协议、安排或理解</p>
<ul>
<li>任何披露人和其他人之间的任何协议、安排或理解的完整细节，涉及本表中提到的任何期权下的相关证券的投票权，或涉及本表中提到的任何衍生品的相关证券的投票权或未来的收购或处置。如果没有，应予以说明。</li>
<li>无</li>
</ul>
<p>（c）附件</p>
<ul>
<li>是否附有补充表格 8？</li>
<li>否</li>
</ul>
<table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>披露日期：</td>
<td>2025 年 12 月 24 日</td>
</tr>
<tr>
<td>联系人姓名：</td>
<td>Claire Gordon</td>
</tr>
<tr>
<td>电话号码：</td>
<td>+44 141 245-8893</td>
</tr>
</tbody>
</table>
<p>根据规则第 38 条的规定，公开披露必须向监管信息服务机构进行。</p>
<p>该信息由伦敦证券交易所的新闻服务 RNS 提供。RNS 获得了金融行为监管局的批准，可以在英国作为主要信息提供者。有关使用和分发此信息的条款和条件可能适用。如需更多信息，请联系 rns@lseg.com 或访问 www.rns.com。</p>
<p>RNS 可能会使用您的 IP 地址以确认遵守条款和条件，分析您与本通信中包含的信息的互动方式，并将此类分析以匿名方式与他人分享，作为我们商业服务的一部分。如需了解 RNS 和伦敦证券交易所如何使用您提供的个人数据，请参阅我们的隐私政策。END ITPTIBRTMTBTMBA</p>

Avadel制药

摩根士丹利

<p>摩根士丹利欧洲 SE 根据 1997 年爱尔兰收购委员会法第 38.5(b) 条和第 38.6 条披露了其在 Avadel 制药公司的开盘头寸。该披露包括相关证券的持股和空头头寸的详细信息，但未报告任何重大持股或交易。未提及任何赔偿或期权安排，也未附上补充表格 8。该披露于 2025 年 12 月 24 日发布</p>

<p>RNS Number : 8072M Morgan Stanley Europe SE 24 December 2025</p>
<div class="lb-trans"><p>RNS 编号：8072M 摩根士丹利欧洲证券公司 2025 年 12 月 24 日</p>
</div><p>FORM 38.5(b)(EPT/NON-RI)</p>
<div class="lb-trans"><p>表格 38.5(b)(EPT/NON-RI)</p>
</div><p>IRISH TAKEOVER PANEL</p>
<div class="lb-trans"><p>爱尔兰收购委员会</p>
</div><p>OPENING POSITION DISCLOSURE/DEALING DISCLOSURE</p>
<div class="lb-trans"><p>开盘头寸披露/交易披露</p>
</div><p>UNDER RULE 38.5(b) AND RULE 38.6 OF THE IRISH TAKEOVER</p>
<div class="lb-trans"><p>根据爱尔兰收购委员会 1997 年法案第 38.5(b) 条和第 38.6 条</p>
</div><p>PANEL ACT, 1997, TAKEOVER RULES, 2022 BY A CONNECTED</p>
<div class="lb-trans"><p>的收购规则，2022 年由一名关联的</p>
</div><p>EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED</p>
<div class="lb-trans"><p>豁免主要交易员，无需认可的</p>
</div><p>INTERMEDIARY STATUS, OR WITH RECOGNISED INTERMEDIARY</p>
<div class="lb-trans"><p>中介身份，或具有认可的中介</p>
</div><p>STATUS BUT NOT DEALING IN A CLIENT-SERVING CAPACITY</p>
<div class="lb-trans"><p>身份但不以客户服务的身份进行交易</p>
</div><p>1. KEY INFORMATION</p>
<div class="lb-trans"><p>1. 关键信息</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>(a) Name of exempt principal trader:</td>
<td>Morgan Stanley Europe SE</td>
</tr>
<tr>
<td>(b) Name of offeror/offeree in relation to whose relevant securities this form relates:<br/>Use a separate form for each offeror/offeree</td>
<td>Avadel Pharmaceuticals plc</td>
</tr>
<tr>
<td>(c) Name of the party to the offer with which exempt principal trader is connected:<br/>(Note 1)</td>
<td>Avadel Pharmaceuticals plc</td>
</tr>
<tr>
<td>(d) Date position held/dealing undertaken:<br/>For an opening position disclosure, state the latest practicable date prior to the disclosure</td>
<td>23 December 2025</td>
</tr>
<tr>
<td>(e) In addition to the company in 1(b) above, is the exempt principal trader also making disclosures in respect of any other party to the offer?<br/>If it is a cash offer or possible cash offer, state &#34;N/A&#34;</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>(a) 豁免主要交易员名称：</td>
<td>摩根士丹利欧洲证券公司</td>
</tr>
<tr>
<td>(b) 与本表相关的要约方/被要约方的名称：</td>
<td></td>
</tr>
<tr>
<td>每个要约方/被要约方使用单独的表格</td>
<td>Avadel Pharmaceuticals plc</td>
</tr>
<tr>
<td>(c) 与豁免主要交易员相关的要约方名称：</td>
<td></td>
</tr>
<tr>
<td>（注 1）</td>
<td>Avadel Pharmaceuticals plc</td>
</tr>
<tr>
<td>(d) 持有头寸/进行交易的日期：</td>
<td></td>
</tr>
<tr>
<td>对于开盘头寸披露，请说明披露前的最新可行日期</td>
<td>2025 年 12 月 23 日</td>
</tr>
<tr>
<td>(e) 除上述 1(b) 中的公司外，豁免主要交易员是否还在披露任何其他要约方的信息？</td>
<td></td>
</tr>
<tr>
<td>如果是现金要约或可能的现金要约，请说明 “N/A”</td>
<td>N/A</td>
</tr>
</tbody>
</table>
</div><p>2. INTERESTS AND SHORT POSITIONS</p>
<div class="lb-trans"><p>2. 利益和空头头寸</p>
</div><p>If there are interests and short positions to disclose in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2 for each additional class of relevant security.</p>
<div class="lb-trans"><p>如果需要披露的要约方或被要约方在 1(b) 中提到的相关证券的多个类别中存在利益和空头头寸，请为每个额外类别复制表格 2。</p>
</div><p>Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any) (Note 2)</p>
<div class="lb-trans"><p>与披露相关的要约方或被要约方的相关证券的利益和空头头寸（如有）在交易后的情况（注 2）</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Class of relevant security:<br/>(Note 3)</td>
<td>0.01 ordinary shares</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td></td>
<td>Interests</td>
<td>Short positions</td>
<td></td>
<td></td>
</tr>
<tr>
<td>Number</td>
<td>%</td>
<td>Number</td>
<td>%</td>
<td></td>
</tr>
<tr>
<td>(1) Relevant securities owned and/or controlled:</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
<tr>
<td>(2) Cash-settled derivatives:</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
<tr>
<td>(3) Stock-settled derivatives (including options) and agreements to purchase/ sell:</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
<tr>
<td>Total:</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别：</td>
<td></td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td>（注 3）</td>
<td>0.01 普通股</td>
<td></td>
<td></td>
<td></td>
</tr>
<tr>
<td></td>
<td>利益</td>
<td>空头头寸</td>
<td></td>
<td></td>
</tr>
<tr>
<td>数量</td>
<td>%</td>
<td>数量</td>
<td>%</td>
<td></td>
</tr>
<tr>
<td>(1) 拥有和/或控制的相关证券：</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
<tr>
<td>(2) 现金结算衍生品：</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
<tr>
<td>(3) 股票结算衍生品（包括期权）和购买/出售协议：</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
<tr>
<td>总计：</td>
<td>0</td>
<td>0.00</td>
<td>0</td>
<td>0.00</td>
</tr>
</tbody>
</table>
</div><p>All interests and all short positions should be disclosed.</p>
<div class="lb-trans"><p>所有利益和所有空头头寸均应披露。</p>
</div><p>Details of options including rights to subscribe for new securities and any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8.</p>
<div class="lb-trans"><p>包括认购新证券的权利和任何开放的股票结算衍生品头寸（包括交易期权）或购买或出售相关证券的协议的详细信息，应在补充表格 8 中提供。</p>
</div><p>3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER</p>
<div class="lb-trans"><p>3. 豁免主要交易员的交易（如有）</p>
</div><p>(Note 4)</p>
<div class="lb-trans"><p>（注 4）</p>
</div><p>Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.</p>
<div class="lb-trans"><p>如果在 1(b) 中提到的要约方或被要约方的多个类别的相关证券中有交易，请为每个额外类别复制表格 3(a)、(b)、(c) 或 (d)（视情况而定）。</p>
</div><p>The currency of all prices and other monetary amounts should be stated.</p>
<div class="lb-trans"><p>所有价格和其他货币金额的货币应予以说明。</p>
</div><p>(a) Purchases and sales</p>
<div class="lb-trans"><p>（a）购买和销售</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Class of <br/>relevant <br/>security</td>
<td>Purchases/ <br/>sales</td>
<td>Total <br/>number of <br/>securities</td>
<td>Highest <br/>price per <br/>unit paid/ <br/>received</td>
<td>Lowest<br/>price per <br/>unit paid/ <br/>received</td>
</tr>
<tr>
<td>0.01 ordinary shares</td>
<td>PURCHASES</td>
<td>3,791</td>
<td>21.5675 USD</td>
<td>21.5675 USD</td>
</tr>
<tr>
<td>0.01 ordinary shares</td>
<td>SALES</td>
<td>3,791</td>
<td>21.5675 USD</td>
<td>21.5675 USD</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
<th></th>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>购买/销售</td>
<td>证券总数</td>
<td>每单位支付/收到的最高价格</td>
<td>每单位支付/收到的最低价格</td>
</tr>
<tr>
<td>0.01 普通股</td>
<td>购买</td>
<td>3,791</td>
<td>21.5675 美元</td>
<td>21.5675 美元</td>
</tr>
<tr>
<td>0.01 普通股</td>
<td>销售</td>
<td>3,791</td>
<td>21.5675 美元</td>
<td>21.5675 美元</td>
</tr>
</tbody>
</table>
</div><p>(b) Cash-settled derivative transactions</p>
<div class="lb-trans"><p>（b）现金结算衍生品交易</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Class of <br/>relevant <br/>security</td>
<td>N/A</td>
</tr>
<tr>
<td>Product <br/>description <br/>e.g. CFD</td>
<td>N/A</td>
</tr>
<tr>
<td>Nature of dealing <br/>e.g. opening/closing <br/>a long/short position, <br/>increasing/reducing a <br/>long/short position</td>
<td>N/A</td>
</tr>
<tr>
<td>Number of <br/>reference <br/>securities <br/>(Note 5)</td>
<td>N/A</td>
</tr>
<tr>
<td>Price per <br/>unit<br/>(Note 6)</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>N/A</td>
</tr>
<tr>
<td>产品描述 例如 CFD</td>
<td>N/A</td>
</tr>
<tr>
<td>交易性质 例如 开盘/平仓</td>
<td>N/A</td>
</tr>
<tr>
<td>参考证券数量（注 5）</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位价格（注 6）</td>
<td>N/A</td>
</tr>
</tbody>
</table>
</div><p>(c) Stock-settled derivative transactions (including options)</p>
<div class="lb-trans"><p>（c）股票结算衍生品交易（包括期权）</p>
</div><p>(i) Writing, selling, purchasing or varying</p>
<div class="lb-trans"><p>（i）书写、出售、购买或变更</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Class of <br/>relevant <br/>security</td>
<td>N/A</td>
</tr>
<tr>
<td>Product <br/>description<br/>e.g. call <br/>option</td>
<td>N/A</td>
</tr>
<tr>
<td>Writing, <br/>purchasing,<br/>selling, <br/>varying <br/>etc.</td>
<td>N/A</td>
</tr>
<tr>
<td>Number of <br/>securities <br/>to which <br/>option <br/>relates <br/>(Note 5)</td>
<td>N/A</td>
</tr>
<tr>
<td>Exercise <br/>price per<br/>unit</td>
<td>N/A</td>
</tr>
<tr>
<td>Type <br/>e.g. <br/>American, European <br/>etc.</td>
<td>N/A</td>
</tr>
<tr>
<td>Expiry <br/>date</td>
<td>N/A</td>
</tr>
<tr>
<td>Option <br/>money <br/>paid/ <br/>received <br/>per unit</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>N/A</td>
</tr>
<tr>
<td>产品描述 例如 认购期权</td>
<td>N/A</td>
</tr>
<tr>
<td>书写、购买、出售、变更等</td>
<td>N/A</td>
</tr>
<tr>
<td>与期权相关的证券数量（注 5）</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位行使价格</td>
<td>N/A</td>
</tr>
<tr>
<td>类型 例如 美式、欧式等</td>
<td>N/A</td>
</tr>
<tr>
<td>到期日期</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位支付/收到的期权金</td>
<td>N/A</td>
</tr>
</tbody>
</table>
</div><p>(ii) Exercise</p>
<div class="lb-trans"><p>（ii）行使</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Class of<br/>relevant<br/>security</td>
<td>N/A</td>
</tr>
<tr>
<td>Product<br/>description<br/>e.g. call<br/>option</td>
<td>N/A</td>
</tr>
<tr>
<td>Exercising/<br/>exercised<br/>against</td>
<td>N/A</td>
</tr>
<tr>
<td>Number of<br/>securities</td>
<td>N/A</td>
</tr>
<tr>
<td>Exercise<br/>price per<br/>unit (Note 6)</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>N/A</td>
</tr>
<tr>
<td>产品描述 例如 认购期权</td>
<td>N/A</td>
</tr>
<tr>
<td>行使/已行使</td>
<td>N/A</td>
</tr>
<tr>
<td>证券数量</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位行使价格（注 6）</td>
<td>N/A</td>
</tr>
</tbody>
</table>
</div><p>(d) Other dealings (including transactions in respect of new securities)</p>
<div class="lb-trans"><p>（d）其他交易（包括新证券的交易）</p>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Class of <br/>relevant <br/>security</td>
<td>N/A</td>
</tr>
<tr>
<td>Nature of <br/>dealing <br/>e.g. subscription, <br/>conversion, <br/>exercise</td>
<td>N/A</td>
</tr>
<tr>
<td>Details</td>
<td>N/A</td>
</tr>
<tr>
<td>Price per unit <br/>(if applicable) <br/>(Note 6)</td>
<td>N/A</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>相关证券类别</td>
<td>N/A</td>
</tr>
<tr>
<td>交易性质 例如 认购、转换、行使</td>
<td>N/A</td>
</tr>
<tr>
<td>详细信息</td>
<td>N/A</td>
</tr>
<tr>
<td>每单位价格（如适用）（注 6）</td>
<td>N/A</td>
</tr>
</tbody>
</table>
</div><p>4. OTHER INFORMATION</p>
<div class="lb-trans"><p>4. 其他信息</p>
</div><p>(a) Indemnity and other dealing arrangements</p>
<div class="lb-trans"><p>（a）赔偿和其他交易安排</p>
</div><ul>
<li>Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer:Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state &#34;none&#34;</li>
<li>NONE</li>
</ul>
<div class="lb-trans"><ul>
<li>任何赔偿或期权安排的详细信息，或任何协议或理解，无论是正式还是非正式，涉及可能诱使豁免主要交易员进行或避免进行交易的相关证券，豁免主要交易员与任何要约方或与要约方协同行动的任何人之间的协议：不可撤销的承诺和意向书不应包括。如果没有此类协议、安排或理解，请说明 “无”</li>
<li>无</li>
</ul>
</div><p>(b) Agreements, arrangements or understandings relating to options or derivatives</p>
<div class="lb-trans"><p>（b）与期权或衍生品相关的协议、安排或理解</p>
</div><ul>
<li>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.</li>
<li>NONE</li>
</ul>
<div class="lb-trans"><ul>
<li>任何披露人和其他人之间的任何协议、安排或理解的完整细节，涉及本表中提到的任何期权下的相关证券的投票权，或涉及本表中提到的任何衍生品的相关证券的投票权或未来的收购或处置。如果没有，应予以说明。</li>
<li>无</li>
</ul>
</div><p>(c) Attachments</p>
<div class="lb-trans"><p>（c）附件</p>
</div><ul>
<li>Is a Supplemental Form 8 attached?</li>
<li>NO</li>
</ul>
<div class="lb-trans"><ul>
<li>是否附有补充表格 8？</li>
<li>否</li>
</ul>
</div><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>Date of disclosure:</td>
<td>24 December 2025</td>
</tr>
<tr>
<td>Contact name:</td>
<td>Claire Gordon</td>
</tr>
<tr>
<td>Telephone number:</td>
<td>+44 141 245-8893</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th></th>
<th></th>
</tr>
</thead>
<tbody>
<tr>
<td>披露日期：</td>
<td>2025 年 12 月 24 日</td>
</tr>
<tr>
<td>联系人姓名：</td>
<td>Claire Gordon</td>
</tr>
<tr>
<td>电话号码：</td>
<td>+44 141 245-8893</td>
</tr>
</tbody>
</table>
</div><p>Public disclosures under Rule 38 of the Rules must be made to a Regulatory Information Service.</p>
<div class="lb-trans"><p>根据规则第 38 条的规定，公开披露必须向监管信息服务机构进行。</p>
</div><p>This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.</p>
<div class="lb-trans"><p>该信息由伦敦证券交易所的新闻服务 RNS 提供。RNS 获得了金融行为监管局的批准，可以在英国作为主要信息提供者。有关使用和分发此信息的条款和条件可能适用。如需更多信息，请联系 rns@lseg.com 或访问 www.rns.com。</p>
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<div class="lb-trans"><p>RNS 可能会使用您的 IP 地址以确认遵守条款和条件，分析您与本通信中包含的信息的互动方式，并将此类分析以匿名方式与他人分享，作为我们商业服务的一部分。如需了解 RNS 和伦敦证券交易所如何使用您提供的个人数据，请参阅我们的隐私政策。END ITPTIBRTMTBTMBA</p>
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摩根士丹利欧洲 Avadel 制药公司 - 规则 38.5_B - Avadel 制药公司