Recro Pharma Investor Presentation — February 2021

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February 2021Forward Looking Statements

2This presentation includes forward- looking statements within themeaning ofSection 27AoftheSecurities Actof1933 and

Section 21E oftheSecurities Exchange Actof1934. The words "anticipate", "believe", "could", "estimate", "expect",

"intend", "may", "plan", "predict", "project", "will" andsimilar terms andphrases may beused toidentify forward -looking

statements inthispresentation. Ouroperations involve risks anduncertainties, many ofwhich areoutside ourcontrol, and

anyoneofwhich, oracombination ofwhich, could materially affect ourresults ofoperations andwhether theforward -

looking statements ultimately prove tobecorrect .

These forward -looking statements aresubject torisks anduncertainties including, among other things, theextent towhich

theongoing COVID- 19pandemic continues todisrupt theCompany’s operations and financial condition and the

operations andfinancial condition ofitscustomers; theCompany’s ability tomanage costs andexecute onitsoperational

andbudget plans, theCompany’s ability toachieve itsfinancial goals ;theCompany’s ability tooperate under increased

leverage andassociated lending covenants ;topayitsdebt under itscredit agreement ;theCompany’s ability tomaintain

relationships, profitability andcontracts with commercial partners, including theimpact ofchanges inconsumer demand

fortheproducts theCompany manufactures foritscommercial partners ;theCompany’s ability todiversify andgrow its

business with new customers; customers’ changing inventory requirements and manufacturing plans; customer and

prospective customers decisions tomove forward with ourmanufacturing services; average profitability, ormix, ofthe

products wemanufacture; orcustomers facing increasing ornew competition.

These forward -looking statements should beconsidered together with therisks and uncertainties that may affect our

business andfuture results included inourfilings with theSecurities andExchange Commission atwww .sec.gov.These

forward -looking statements arebased oninformation currently available tous,andweassume noobligation toupdate any

forward -looking statements except asrequired byapplicable law.An Emerging CDMO with a Clear Path to Sustained Growth

Strong Regulatory Track Record Spanning Multiple Countries and AgenciesEnd-to -End Capabilities –Servicing Early Stage through Commercial Production

ANDA Ownership and Profit -Sharing Structure for Multiple Drug Assets

Re-Organized Company Poised for Growth and Diversification Success in Robust Market Unique Expertise Solving Complex Solid Oral Dose Formulation & Development