Catalent Announces Upsizing and Pricing of Private Offering of Senior Unsecured Notes Due 2030 SOMERSET, N.J.

Catalent Announces Upsizing and Pricing of Private Offering of Senior Unsecured Notes Due 2030

SOMERSET, N.J., September 23, 2021 Catalent, Inc. ( Catalent ) (NYSE: CTLT), the leading global provider of development sciences and

manufacturing platforms for medicines, including biotherapeutics; cell and gene therapies; and consumer health products, today announced that its wholly owned subsidiary, Catalent Pharma Solutions, Inc. (the Operating Subsidiary ), priced

a private offering (the Private Offering ) of $650 million in aggregate principal amount of 3.500% senior unsecured notes due 2030 (the Notes ) at par, which represents an increase of $200 million from the offering size

previously announced.

The Operating Subsidiary intends to use the proceeds from the Private Offering to finance a portion of the purchase price for the

previously announced acquisition of Bettera Holdings, LLC (the Bettera Acquisition ) and to pay related fees, costs, and expenses.

will be guaranteed by all of the wholly owned U.S. subsidiaries of the Operating Subsidiary that guarantee its senior secured credit facilities. The Notes will not be guaranteed by PTS Intermediate Holdings, LLC or Catalent, the direct and indirect

parent companies of the Operating Subsidiary.

The Private Offering is exempt from the registration requirements of the Securities Act of 1933, as amended

(the Securities Act ). The Notes will be offered and sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to certain non-U.S.

persons outside the United States pursuant to Regulation S under the Securities Act.

The sale of the Notes is expected to be consummated on September 29,

2021, subject to customary closing conditions.

The Notes have not been and will not be registered under the Securities Act or applicable state securities

laws and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes or any other securities described above and

shall not constitute an offer, solicitation or sale in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful.

Catalent, Inc. (NYSE: CTLT), an S&P

500 Company, is the leading global provider of development sciences and manufacturing platforms for medicines, including biotherapeutics; cell and gene therapies; and consumer health

products. With almost 90 years serving the industry, Catalent has proven expertise in bringing more customer products to market faster, enhancing product performance, and ensuring reliable global clinical and commercial product supply.

Catalent s workforce exceeds 17,000 people, including more than 2,500 scientists and technicians, at more than 50 facilities on four continents, and in fiscal year 2021, it generated $4 billion in annual revenue. Catalent is headquartered

in Somerset, New Jersey. For more information, visit www.catalent.com.

Forward-Looking Statement Notice

This release contains both historical and forward-looking statements, including statements regarding the Bettera Acquisition, the Private Offering and plans,

projections and estimates regarding the use of proceeds from the Private Offering. All statements other than statements of historical fact, are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the

Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified because they relate to the topics set forth above or by the use of statements that include phrases

such as believe, expect, anticipate, intend, estimate, plan, project, foresee, likely, may, will, would,

or other words or phrases with similar meanings. Similarly, statements that describe Catalent s objectives, plans, or goals are, or may be, forward-looking statements. These statements are based on current expectations of future events. If

underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from Catalent s expectations and projections. Some of the factors that could cause actual results to differ include, but

to, the following: the current or future effects of the COVID-19 pandemic on Catalent s or its clients or suppliers businesses,

participation in a highly competitive market and increased competition may adversely affect Catalent s business; demand for Catalent s offerings which depends in part on Catalent s customers research and development and the

clinical and market success of their products; product and other liability risks that could adversely affect Catalent s results of operations, financial condition, liquidity, and cash flows; failure to comply with existing and future regulatory

requirements; failure to provide quality offerings to customers could have an adverse effect on Catalent s business and subject it to regulatory actions and costly litigation; problems providing the highly exacting and complex services or

support required; global economic, political, and regulatory risks to the operations of Catalent; inability to enhance existing or introduce new technology or service offerings in a timely manner; inadequate patents, copyrights, trademarks, and

other forms of intellectual property protections; fluctuations in the costs, availability, and suitability of the components of the products Catalent manufactures, including active pharmaceutical ingredients, excipients, purchased components, and

raw materials; changes in market access or healthcare reimbursement in the United States or internationally; fluctuations in the exchange rate of the U.S. dollar against other currencies; adverse tax legislative or regulatory initiatives or

challenges or adjustments to Catalent s tax positions; loss of key personnel; risks generally associated with information systems; inability to complete any future acquisition, including the Bettera Acquisition, or other transaction that may

complement or expand Catalent s business or divest of non-strategic businesses or assets and difficulties in successfully integrating acquired businesses and realizing anticipated benefits of such

acquisitions; risks associated with timely and successfully completing, and correctly anticipating the future demand predicted for, capital expansion projects at Catalent s existing facilities; offerings and customers products that may

infringe on the intellectual property rights of third parties; environmental, health, and safety laws and regulations, which could increase costs and restrict operations; labor and employment laws and regulations or labor difficulties, which could

increase costs or result in operational disruptions; additional cash contributions required to fund Catalent s existing pension plans; substantial leverage resulting in the limited ability of Catalent to raise additional capital to fund

operations and react to changes in the economy or in the industry; exposure to interest rate risk to the extent of Catalent s variable rate debt and preventing Catalent from meeting its obligations under its indebtedness. For a more detailed

discussion of these and other factors, see the information under the caption Risk Factors in Catalent s Annual Report on Form 10-K for the fiscal year ended June 30, 2021, filed

August 30, 2021. All forward-looking statements speak only as of the date of this release or as of the date they are made, and Catalent does not undertake to update any forward-looking statement as a result of new information or future events

or developments except to the extent required by law.

Paul Surdez, 732-537-6325