Alvotech, Global Biotech Company, and Oaktree Acquisition Corp. II Announce June 7, 2022 Extraordinary General Meeting to Approve Business Combination

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May 11, 2022

Alvotech Holdings S.A. (“Alvotech S.A.”), a global biopharmaceutical company focused solely on the development and manufacture of biosimilar medicines for patients worldwide, and Oaktree Acquisition Corp. II (NYSE: OACB), a special purpose acquisition company sponsored by an affiliate of Oaktree Capital Management, L.P. (“OACB”), announced today that the extraordinary general meeting of shareholders of OACB (the “Extraordinary General Meeting”) to approve the pending business combination (the “Business Combination”) between Alvotech S.A., Alvotech (“TopCo”) and OACB is scheduled to be held on Tuesday, June 7, 2022 at 10:00 a.m. Eastern time. The Extraordinary General Meeting will be held in person at the offices of Kirkland & Ellis LLP located at 601 Lexington Avenue, 50th Floor, New York, New York 10022 and virtually via live webcast. Holders of OACB’s Class A ordinary shares and Class B ordinary shares at the close of business on the record date of March 22, 2022 are entitled to notice of the Extraordinary General Meeting and to vote at the Extraordinary General Meeting.