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DewDiligence

05/19/21 3:56 PM

#1912 RE: DewDiligence #1799

RVNC fully-diluted* shares @4/27/21=89.6M—an increase of 1.5M since the 12/31/20 pro-forma number (#msg-162199600).

As explained on page 37 of the 1Q21 10-Q (https://www.sec.gov/ix?doc=/Archives/edgar/data/1479290/000147929021000123/rvnc-20210331.htm#ifc8a87a092ef4b3fa4738a47909f8039_16 ), the above figure consists of: 71.5 basic shares; 5.0M options; 4.2M shares of (already issued) unvested restricted stock awards; 0.1M shares to be issued under the employee stock-purchase plan in Jun 2021; and 8.9M shares deriving from the convertible debt issued in Feb 2020 (ignoring hedging transactions associated with the convertible debt).

Excluding the shares derived from the convertible debt, fully-diluted shares at 4/27/21 were 80.8M.

According to the 1Q21 10-Q filing, as of 5/10/21 (the filing date) RVNC had sold no shares under the ATM facility with Cowen since the end of 1Q21.

*Non-treasury method.