Supplement dated 22 June 2022 to the Company Description dated 21 June 2022 (incorporated in Luxembourg as a limited liability company) This supplement (the Supplement ) to the Company Description, dated 21 June 2022 (to

Supplement dated 22 June 2022

to the Company Description dated

(incorporated in Luxembourg as a limited liability company)

This supplement (the Supplement ) to the Company Description, dated 21 June 2022 (together Company Description ), has been

prepared by Alvotech, a public limited liability company (soci t anonyme), incorporated and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 9, rue de Bitbourg, L-1273 Luxembourg, Grand

Duchy of Luxembourg, and registered with the Luxembourg Trade and Company Register (Registre de Commerce et des Soci t s, Luxembourg) under number B258884. In Iceland the Company is registered with the Icelandic reg. no.

671221-9740, in relation to the listing of common shares, issued by the Company s First North Iceland.

The Supplement has been prepared solely in

connection to the filing of Form 20-F with the U.S. Securities and Exchange Commission ( SEC ), and is with this Supplement incorporated by reference into the Company Description and is supplemental to, forms part of and must be read and

construed in conjunction with, the Company Description, prepared solely in connection with the listing of the Shares on First North Iceland and does not constitute a prospectus under Act, no. 14/2020, on prospectus for securities when offered to the

public or admitted to trading on a regulated market, nor Regulation (EU) 2017/1129 of the European Parliament and of the Council. This Supplement and the Company Description are available on the Company s website,

A new section number 11 entitled The Form 20-F as filed with SEC shall be inserted after Section 10 entitled

The Registration Statement into the Company Description with the following wording:

Terms given a defined meaning in the Company Description shall, unless the context otherwise requires, have the same meaning when used in this Supplement. To

the extent that there is any inconsistency between a) any statement in this Supplement or any statement incorporated by reference into the Company Description by this Supplement and b) any other statement in or incorporated by reference into the

Company Description, the statements referred to in a) above shall prevail.

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

For the fiscal year ended

Date of event requiring this shell company report: June 15, 2022

Commission File Number: 001-41421

(Exact name of Registrant as specified in its charter)

Grand Duchy of Luxembourg

(Address of principal executive offices)

S mundargata 15-19, 102

Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Indicate the number of outstanding shares of each of the issuer s classes of capital or common stock as of the close of the period covered by the shell

company report: 243,649,505 ordinary shares and 10,916,667 warrants to purchase ordinary shares.

Indicate by check mark if the registrant

is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes No

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or

15(d) of the Securities Exchange Act of 1934. Yes No

check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to

file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of

Regulation S-T ( 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such

Indicate by check mark whether the registrant is a

large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of large accelerated filer, accelerated filer, and emerging

growth company in Rule 12b-2 of the Exchange Act.

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if

the registrant has elected to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the

registrant has filed a report on and attestation to its management s assessment of the effectiveness of its internal control over financial reporting over Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered

public accounting firm that prepared or issued its audit report.

Indicate by check mark which basis of accounting the registrant has

used to prepare the financial statements included in this filing:

If Other has been checked in response to the previous question indicate by check mark which financial statement

item the registrant has elected to follow. Item17 Item18

an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Shell Company Report on Form 20-F (including information incorporated by reference herein, the

Report ) contains or may contain forward-looking statements as defined in Section 27A of the Securities Act of 1933, as amended (the Securities Act ), and Section 21E of the Securities Exchange Act of 1934, as amended

(the Exchange Act ), that involve significant risks and uncertainties. All statements other than statements of historical facts are forward-looking statements. These forward-looking statements include information about our possible or

assumed future results of operations or our performance. Words such as expects, intends, plans, believes, anticipates, estimates, and variations of such words and similar

expressions are intended to identify the forward-looking statements. Unless otherwise stated or unless the context otherwise requires, references to TopCo or Company are to the registrant named Alvotech ,

previously known as Alvotech Lux Holdings S.A.S. and its subsidiaries after the consummation of the Business Combination (the Closing ), whereas references to Alvotech are to Alvotech Holdings S.A. and its subsidiaries prior

to the Closing and to TopCo and its subsidiaries after the Closing, and references to OACB contained herein refer to Oaktree Acquisition Corp. II, a Cayman Island exempted company. Forward-looking statements in this Report may include,

for example, statements about:

These forward-looking statements are based on information available as of the date of this Report, and current expectations, forecasts

and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update

forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

You should not place undue reliance on these forward-looking statements in deciding to invest in our securities. As a result of a number of known and unknown

risks and uncertainties, our actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include:

The risk factors and cautionary language referred to or incorporated by reference in this Report provide examples of

risks, uncertainties and events that may cause actual results to differ materially from the expectations described in our forward-looking statements, including among other things, the items identified in the section entitled Risk Factors

of Amendment No. 6 of the Company s Registration Statement on Form F-4 (333-261773) filed with the Securities and Exchange Commission (the SEC ) on May 10, 2022 (the Form F-4 ), which are incorporated by reference

On June 15, 2022, the Company (as defined below) consummated the transactions contemplated by that previously announced Business

Combination Agreement dated as of December 7, 2021, by and among OACB, Alvotech and TopCo. Capitalized terms used in this section but not otherwise defined herein have the meanings given to them in the Business Combination Agreement. Pursuant

to the Business Combination Agreement:

Concurrently with the execution of the Business Combination Agreement, OACB and TopCo entered into Subscription Agreements with certain

U.S.-based institutional and accredited investors (each a U.S. Subscription Agreement ) and non-U.S. persons (as defined in Regulation S under the Securities Act (each a Foreign Subscription

Agreement and, together with the U.S. Subscription Agreements, the Initial Subscription Agreements ) with certain investors (the Initial Subscribers ), pursuant to which the Initial Subscribers have agreed to subscribe

for, and TopCo has agreed to issue to the Initial Subscribers, an aggregate of 15,393,000 Ordinary Shares at a price of $10.00 per share, for aggregate gross proceeds of $153,930,000 (the Initial PIPE Financing ). Subsequently to the

Initial PIPE Financing, on January 18, 2022, OACB and TopCo entered into Subscription Agreements (the Subsequent Subscription Agreements , and together with the Initial Subscription Agreements, the Subscription

Agreements ) with certain Initial Subscribers (the Subsequent Subscribers , and together with the Initial Subscribers, the Subscribers ), pursuant to which the Subsequent Subscribers have agreed to subscribe for, and TopCo

has agreed to issue to the Subsequent Subscribers, an aggregate of 2,100,000 Ordinary Shares at a price of $10.00 per share, for aggregate gross proceeds of $21,000,000 (the Subsequent PIPE Financing , and together with the Initial PIPE

Financing, the PIPE Financing ). The aggregate amount of Ordinary Shares to be issued pursuant to the PIPE Financing was 17,493,000 for aggregate gross proceeds of $174,930,000. The Subscription Agreements contain substantially the same

terms, except that the investors that entered into the Foreign Subscription Agreement agreed to subscribe for Ordinary Shares at a price that is net of a 3.5% placement fee.

Certain amounts that appear in this Report may not sum due to rounding.

Alvotech means, as the context

requires, (a) Alvotech Holdings S.A., a public limited liability company (soci t anonyme) incorporated and existing under the laws of the Grand Duchy of Luxembourg having its registered office at 9, Rue de Bitbourg, L-1273 Luxembourg, Grand Duchy of Luxembourg and registered with the Luxembourg Trade and Company Register (Registre de Commerce et des Soci t s, Luxembourg) under number B 229193, individually

or together with its consolidated subsidiaries; or (b) the name of TopCo (the registrant), previously known as Alvotech Lux Holdings S.A.S.; or (c) the Combined Company.