Assertio Therapeutics Investor Presentation — May 2018

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First-Quarter 2018 Financial Update

May 10, 2018Forward -Looking Statements

2“Safe Harbor” Statement under thePrivate Securities Litigation Reform Actof1995 .The statements that arenothistorical facts

contained inthis release areforward -looking statements that involve risks and uncertainties including, butnotlimited to,the

commercialization ofGralise ,CAMBIA, and Zipsor ,royalties associated with Collegium’s commercialization ofNUCYNTA and

NUCYNTA ER,regulatory approval andclinical development ofCosyntropin ,Depomed's financial outlook for2018 andexpectations

regarding financial results andpotential business opportunities andother risks detailed intheCompany's Securities andExchange

Commission filings, including theCompany's most recent Annual Report onForm 10-Kandmost recent Quarterly Report onForm

10-Q.The inclusion offorward -looking statements should notberegarded asarepresentation thatanyoftheCompany's plans or

objectives willbeachieved .Youarecautioned nottoplace undue reliance onthese forward -looking statements, which speak only as

ofthedate hereof .The Company undertakes noobligation topublicly release theresult ofanyrevisions tothese forward -looking

statements thatmay bemade toreflect events orcircumstances after thedate hereof ortoreflect theoccurrence ofunanticipated

Depomed undertakes noduty orobligation toupdate anyforward -looking statements contained inthispresentation asaresult ofnew

information, future events orchanges initsexpectations except asmay berequired bylaw.

This presentation contains non-GAAP financial measures, including EBITDA, Adjusted EBITDA andother financial measures labeled

as“non-GAAP .”Please refer toDepomed’s May 10,2018 earnings release ontheDepomed website (Depomed .com) foran

explanation ofthese non-GAAP financial measures andfortables thatreconcile thenon-GAAP figures totheir GAAP equivalent .“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995

May 2018First-Quarter 2018 Highlights

3May 2018•Company confirms previous 2018 guidance for neurology franchise net sales

and non-GAAP adjusted EBITDA

•Amends existing licensing agreement for CAMBIA®line extension

•Announced new co -promotion agreement for Zipsor®

•Began enrollment in new clinical trial using Cosyntropin to treat rare pediatric disorder

•Transitioning to new corporate headquarters in Lake Forest, IL A Clear Strategy for Growth

Execution of Three -Pillar Growth Strategy Transforms Company

NUCYNTA®FranchiseGROW

agreement with Collegium

Amends agreement for