 AMRYT ANNOUNCES Q2 2020 RESULTS AND ISSUES POSITIVE REVENUE GUIDANCE FOR FY 2020New revenue guidance of 170M - 175M in 2020Conference call and webcast today 0830 ET 1330 BSTDUBLIN, Ireland, and Boston MA, August 6, 2020, Amryt Nasdaq: AMYT, AIM: AMYT, Euronext Growth: AYP, a global, commercial-stage biopharmaceutical company dedicated to developing and commercializing novel therapeutics to treat patients suffering from serious and life-threatening rare diseases, today announces unaudited financial results and provides a business update for the second quarter ended June 30, 2020. 22 YoY growth in unaudited Q2 revenues to 46.2M Q2 20191 unaudited combined revenues: 37.9M 26 YoY increase in unaudited H1 revenues to 90.8M H1 20191 unaudited combined revenues: 72.3M 4 QoQ unaudited revenue growth in Q2 versus Q1 44.6M. 9 growth QoQ excluding the impact of irregular orders in Q1 and Q2 12.0M operating loss before finance expense in Q2. Excluding non-cash items and share based compensation expenses, this resulted in EBITDA2 of 6.9M in Q2 representing 50 QoQ growth and delivering 11.5M EBITDA2 for H1 Strong cash generation during H1 with 9.7M of cash generated from operating activities Robust financial position with 67.0M in unrestricted cash at June 30, 2020 Issuing FY 2020 revenue guidance of between 170M and 175M 20191: 154.1m On July 8, 2020, Amryt listed on the Nasdaq Global Select Market NasdaqJoe Wiley, CEO of Amryt Pharma, commented: The very positive momentum we experienced during 2019 and Q1 this year has been maintained through Q2 and I am pleased to report that our business continues to perform and grow beyond our expectations, notwithstanding the obvious challenges we have faced in working through the very different environment presented by the COVID-19 pandemic. Our primary focus remains the health and well-being of our team, patients, carers, partners and their families.Our two commercial products, metreleptin and lomitapide continue to deliver growth across a host of metrics including revenue and EBITDA growth, cash generation and market expansion. We have had in place for some time, the management team, systems and infrastructure to support and scale the growth of our global business.Our exciting development pipeline of new therapeutic drug candidates for diseases where there is a high unmet medical need continues to progress in line with our expectations. In particular, we look forward to announcing top-line data from our EASE Phase 3 global clinical trial in late Q3 early Q4. Despite the uncertainties brought about by COVID-19, we believe we have good visibility on our commercial business in the second half of the year. Our confidence in the stability and prospects for our business is illustrated today as we are issuing formal and positive guidance to the market for FY 2020 revenues.Q2 and Recent Business Highlights: In June 2020, Amryt publicly filed a Registration statement on Form F-1 with the U.S. Securities and Exchange Commission SEC relating to the listing of American Depositary Shares ADSs on Nasdaq. Amryts ADSs began trading on Nasdaq on July 8, 2020 under the symbol AMYT Amryt signed a distribution agreement for Myalepta with Swixx BioPharma AG Swixx across 17 jurisdictions in Central and Eastern Europe in June 2020 EASE, Amryts global pivotal Phase 3 trial in patients with dystrophic and junctional Epidermolysis Bullosa EB, closed enrolment in April and is on track for top-line data readout in late Q3 early Q4 2020Q2 Financial Highlights: Revenues 46.2M unaudited Q2 revenues representing a 22 increase on unaudited combined revenues of 37.9M in Q2 20191 4 quarter on quarter unaudited revenue growth in Q2 2020 versus Q1 2020 44.6M. 9 growth quarter on quarter excluding the impact of irregular orders in Q1 and Q2 33 growth in Myalept Myalepta metreleptin revenues to 27.9M in the quarter Q2 2019: unaudited combined revenues1 20.9M. Metreleptin revenues were bolstered by a 1.1M order which typically occurs once annually 8 increase in JuxtapidLojuxta lomitapide revenues to 18.1M in the quarter Q2 2019: unaudited combined revenues1 16.8M US revenues accounted for 52 of total global revenues in Q2 EMEA revenues accounted for 38 of global revenues, driven by the continued rollout of metreleptin post European Medicines Agency EMA approval in 2018. Q2 revenues for EMEA were favourably impacted by seasonal patterns and by forward ordering in certain jurisdictions driven by the COVID-19 pandemic1 Unaudited combined revenues for 2019 represent the combined unaudited revenues of the Company assuming the acquisition by Amryt of Aegerion happened on 1 January 2019. It also i excludes revenues from sales to end-users in Japan following the out-licencing of Juxtapid to Recordati in February 2019, ii excludes up-front payments from Recordati in 2019, and iii includes a 22.5 royalty on Japanese sales of Juxtapid from 1 January 2019 as if the Recordati agreement was in place from that date.Statutory and adjusted Q2 results:USMQ2 2019 unauditedQ2 2020 unauditedQ2 2020 Non-cash Items3Q2 2020 Non-GAAP Adjusted Revenue4.646.2-46.2 Gross profit2.816.717.634.3 RD3.76.2-6.2 SGA6.121.60.521.1 Acquisition severance related costs2.60.1-0.1 Share based compensation expenses0.10.80.8- Operating loss profit before finance expense9.712.018.96.9 2 Unrestricted cash cash equiv.5.367.0-67.0 2 EBITDA is earnings before interest, tax, depreciation, amorstisation and share based compensation expenses. To supplement Amryts financial results presented in accordance with IFRS generally accepted accounting principles, the Company uses EBITDA as a key measure of company performance as the Company believes that this measure is most reflective of the operational profitability or loss of the Company and provides management and investors with useful supplementary information which can enhance their ability to evaluate the operating performance of the business. EBITDA, as measured by the Company, is not meant to be considered in isolation or as a substitute to operating profit loss attributable to Amryt and should be read in conjunction with the Companys condensed consolidated financial statements prepared in accordance with IFRS.3 Non-cash items include amortisation of the acquired metreleptin and lomitapide intangible assets 11.1M, amortisation of the inventory fair value step-up that was acquired at the acquisition date 6.5M, depreciation 0.5M and share based compensation expenses 0.8M.The Q2 operating loss of 12.0M includes the impact of non-cash items including amortisation, depreciation and the impact of share-based compensation expenses. Adjusting for these non-cash items, the Company delivered 6.9M of EBITDA2 for the quarter. RD expenses decreased to 6.2M in Q2 Q1: 8.9M. SGA expenses increased in Q2 to 21.6M Q1: 18.4M.Financial Position:Cash generated from operating activities in Q2 was 3.5M. During the quarter, the Company paid 4.0M in net finance payments, 4.2M in residual payments related to legacy fines levied on Aegerion and 0.1M in capital expenditure. The legacy fines will be fully discharged by the end of Q1 2021. At June 30, 2020, the Company had unrestricted cash and cash equivalents of 67.0M unaudited, compared to unrestricted cash and cash equivalents at December 31, 2019 of 65.2M audited.Financial Guidance and Outlook:Revenues for the FY 2020 are expected to be in the range 170M - 175M. This forecast takes into account the seasonality and forward-ordering patterns already identified in Q2 and the impact of variable orders in H1.Webcast and Conference Call:Management will host a webcast for analysts and investors today at 0830 ET 1330 BST. Webcast Player URL: Dial in details: Standard International Number44 0 203 009 5709 United States1 646 787 1226 United Kingdom Local44 0 844 493 6766 Ireland 353 1 506 0626 Confirmation Code7674874 A playback facility will be available from August 6, 2020 at 1330 ET 1830 BST August 13, 2020 at 1330 ET 1830 BST. Access details as follows: Confirmation Code: 7674874 US: 1 917 677 7532 UKInternational: 44 0 3333 00 9785 Ireland: 353 1 553 8777.Enquiries: Amryt Pharma plc353 1 518 0200 Joe Wiley, CEO Rory Nealon, CFOCOO LifeSci Advisors, LLC1 212 915 2564 Tim McCarthy Consilium Strategic Communications44 0 20 3709 5700 Amber Fennell, Matthew Neal, Ashley Tapp About AmrytAmryt is a biopharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare and orphan diseases. Amryt comprises a strong and growing portfolio of commercial and development assets.Amryts commercial business comprises two orphan disease products.Juxtapid Lojuxta lomitapide is approved as an adjunct to a low-fat diet and other lipid-lowering medicinal products for adults with the rare cholesterol disorder, Homozygous Familial Hypercholesterolaemia HoFH in the US, Canada, Columbia, Argentina and Japan under the trade name Juxtapid and in the EU under the trade name Lojuxta. 