PERRIGO ANNOUNCES CLOSING OF $2.6 BILLION SENIOR SECURED CREDIT FACILITIES Dublin, Ireland

PERRIGO ANNOUNCES CLOSING OF $2.6 BILLION SENIOR SECURED CREDIT FACILITIES

Dublin, Ireland April 20, 2022 Perrigo Company plc (NYSE: PRGO) ( Perrigo or the Company ), a leading provider of

Consumer Self-Care Products, today announced that it closed its previously announced senior secured credit facilities. The new facilities consist of (i) a $1.0 billion five-year revolving credit facility (the New Revolving

Facility ), (ii) a $500 million five-year term loan A facility (the New Term Loan A Facility ), and (iii) a $1.1 billion seven-year term loan B facility (the New Term Loan B Facility and, together with the

New Term Loan A Facility, the New Term Loan Facilities, and the New Term Loan Facilities together with the New Revolving Facility, the New Senior Secured Credit Facilities ). Due to the favorable reception from the market to

the syndication of the New Senior Secured Credit Facilities, the size of the New Term Loan Facilities was increased to a total of $1.6 billion from the previously announced $1.1 billion, and the Company has decided not to proceed with its

previously announced offering of senior notes. The New Senior Secured Credit Facilities are being incurred by the Company s wholly-owned subsidiary, Perrigo Investments, LLC, and will be guaranteed by the Company and certain other wholly-owned

subsidiaries of the Company.

The Company will use the proceeds of the New Term Loan Facilities, together with cash on hand, to finance the previously

announced acquisition of H ra SAS ( H ra ) and to repay existing indebtedness of the Company and its subsidiaries under its outstanding term loan facility, its 4.00% Senior Notes due 2023 and its 5.1045% Guaranteed Senior

Notes due 2023. Notice of redemption of the 4.00% Senior Notes due 2023 and the 5.1045% Guaranteed Senior Notes due 2023 has been given, and the notes will be redeemed on May 20, 2022. The Company will use any amounts borrowed from time to time

under the New Revolving Facility, which will replace its existing revolving facility, for general corporate purposes.

JPMorgan Chase Bank, N.A., Morgan

Stanley Senior Funding, Inc., Wells Fargo Securities, LLC, BofA Securities, Inc. and HSBC Securities (USA) Inc. are the joint lead arrangers for the New Senior Secured Credit Facilities.

Perrigo Company plc (NYSE: PRGO) is

a leading provider of Consumer Self-Care Products and over-the-counter (OTC) health and wellness solutions that enhance individual well-being by empowering

consumers to proactively prevent or treat conditions that can be self-managed. Led by its consumer self-care strategy, Perrigo is the largest store brand OTC player in the U.S. in the categories in which it competes through more than 9,000 SKUs

under customer own brand labels. Additionally, Perrigo is a Top 10 OTC company by revenue in Europe, where it markets more than 200 branded OTC products throughout 28 countries.

Forward-Looking Statements

Certain statements in

this press release are forward-looking statements. These statements relate to future events or the Company s future financial performance and involve known and unknown risks, uncertainties and other factors that may cause the actual

results, levels of activity, performance or achievements of the Company or its industry to be materially different from those expressed or implied by any forward-looking statements. In some cases, forward-looking statements can be

identified by terminology such as may, will, could, would, should, expect, forecast, plan, anticipate, intend,

believe, estimate, predict, potential or the negative of those terms or other comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions,

estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of

which are beyond the Company s control, including: the effect of the novel coronavirus (COVID-19) pandemic and its variants and the associated supply chain impacts on the

Company s business; general economic, credit, and market conditions; the outbreak of war between Russia and Ukraine, including the imposition of sanctions related thereto, or escalation of

conflict in other regions where the Company does business; future impairment charges; customer acceptance of new products; competition from other industry participants, some of whom have greater marketing resources or larger market shares in certain

product categories than the Company does; pricing pressures from customers and consumers; resolution of uncertain tax positions, including the Company s appeal of the draft and final Notices of Proposed Assessment ( NOPAs ) issued by

the U.S. Internal Revenue Service and the impact that an adverse result in any such proceedings would have on operating results, cash flows, and liquidity; pending and potential third-party claims and litigation, including litigation relating to the

Company s restatement of previously-filed financial information and litigation relating to uncertain tax positions, including the NOPAs; potential impacts of ongoing or future government investigations and regulatory initiatives; potential

costs and reputational impact of product recalls or sales halts; the impact of tax reform legislation and healthcare policy; the timing, amount and cost of any share repurchases; fluctuations in currency exchange rates and interest rates; the

success of the sale of the Rx business, including the ability to achieve the expected benefits thereof and the risk that potential costs or liabilities incurred or retained in connection with the transaction may exceed the Company s estimates

or adversely affect the Company s business or operations; the consummation and success of the proposed acquisition of H ra and the ability to achieve the expected benefits thereof, including the risk that the parties fail to obtain the

required regulatory approvals or to fulfill the other conditions to closing on the expected timeframe or at all, the occurrence of any other event, change or circumstance that could delay the transaction or result in the termination of the

securities sale agreement or the risks that Company s synergy estimates are inaccurate or that the Company faces higher than anticipated integration or other costs in connection with the proposed acquisition; the consummation and success of

other announced acquisitions or dispositions, and the Company s ability to realize the desired benefits thereof; and the Company s ability to execute and achieve the desired benefits of announced cost-reduction efforts and strategic and

other initiatives. An adverse result with respect to the Company s appeal of any material outstanding tax assessments or pending litigation, including securities or drug pricing matters, could ultimately require the use of corporate assets to

pay such assessments, damages from third-party claims, and related interest and/or penalties, and any such use of corporate assets would limit the assets available for other corporate purposes. These and other important factors, including those

discussed under Risk Factors in the Company s Form 10-K for the year ended December 31, 2021, as well as the Company s subsequent filings with the United States Securities and

Exchange Commission, may cause actual results, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. The forward-looking statements in this press release are made only as of the date

hereof, and unless otherwise required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Perrigo Company plc

Bradley Joseph, Vice President, Global Investor Relations & Corporate Communications, (269) 686-3373, E-mail: bradley.joseph@perrigo.com

Nicholas Gallagher, Manager, Global Investor Relations & Corporate

Communications, (269) 686-3238, E-mail: nicholas.gallagher@perrigo.com