X0303 4 2011-05-13 0 0000885590 Valeant Pharmaceuticals International, Inc. VRX 0001418814 ValueAct Holdings, L.P. 435 PACIFIC AVENUE, 4TH FLOOR SAN FRANCISCO CA 94133 1 0 0 1 See Remarks 0001464912 ValueAct Capital Master Fund, L.P. 435 PACIFIC AVENUE 4TH FLOOR SAN FRANCISCO CA 94133 1 0 0 1 See Remarks 0001418812 VA Partners I, LLC 435 PACIFIC AVENUE, 4TH FLOOR SAN FRANCISCO CA 94133 1 0 0 1 See Remarks 0001351069 ValueAct Capital Management, L.P. 435 PACIFIC AVENUE, 4TH FLOOR SAN FRANCISCO CA 94133 1 0 0 1 See Remarks 0001351073 ValueAct Capital Management, LLC 435 PACIFIC AVENUE, 4TH FLOOR SAN FRANCISCO CA 94133 1 0 0 1 See Remarks 0001418813 ValueAct Holdings GP, LLC 435 PACIFIC AVENUE, 4TH FLOOR SAN FRANCISCO CA 94133 1 0 0 1 See Remarks Common Stock, no par value 2011-05-13 4 S 0 4498180 49.99 D 15095302 I See footnotes The securities reported herein are directly beneficially owned by ValueAct Capital Master Fund, L.P. and may be deemed to be indirectly beneficially owned by (i) VA Partners I, LLC as General Partner of ValueAct Capital Master Fund, L.P., (ii) ValueAct Capital Management, L.P. as the manager of ValueAct Capital Master Fund, L.P., (iii) ValueAct Capital Management, LLC as General Partner of ValueAct Capital Management, L.P., (iv) ValueAct Holdings, L.P. as the sole owner of the limited partnership interests of ValueAct Capital Management, L.P. and the membership interests of ValueAct Capital Management, LLC and as the majority owner of the membership interests of VA Partners I, LLC and (v) ValueAct Holdings GP, LLC as General Partner of ValueAct Holdings, L.P. Each reporting person listed herein disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. -The reporting persons herein may be deemed to be members of a "group" for purposes of the Securities Exchange Act of 1934, as amended. Each reporting person disclaims beneficial ownership of any securities deemed to be owned by the group that are not directly owned by such reporting person. This report shall not be deemed an admission that such reporting person is a member of a group or the beneficial owner of any securities not directly owned by such reporting person. -G. Mason Morfit, a member of the management board of ValueAct Holdings GP, LLC, serves on the board of directors of the Issuer. As a result, the reporting persons herein may be deemed directors by deputization. Joint Filer Information: Name: ValueAct Capital Master Fund, L.P. Address: 435 Pacific Ave, 4th Fl, San Francisco, CA 94133 Designated Filer: ValueAct Holdings, L.P. Issuer & Ticker: Valeant Pharmaceuticals International, Inc. (VRX) Date of Event Requiring Statement: 05/13/2011 Name: VA Partners I, LLC Address: 435 Pacific Ave, 4th Fl, San Francisco, CA 94133 Designated Filer: ValueAct Holdings, L.P. Issuer & Ticker: Valeant Pharmaceuticals International, Inc. (VRX) Date of Event Requiring Statement: 05/13/2011 Name: ValueAct Capital Management, L.P. Address: 435 Pacific Ave, 4th Fl, San Francisco, CA 94133 Designated Filer: ValueAct Holdings, L.P. Issuer & Ticker: Valeant Pharmaceuticals International, Inc. (VRX) Date of Event Requiring Statement: 05/13/2011 Name: ValueAct Capital Management, LLC Address: 435 Pacific Ave, 4th Fl, San Francisco, CA 94133 Designated Filer: ValueAct Holdings, L.P. Issuer & Ticker: Valeant Pharmaceuticals International, Inc. (VRX) Date of Event Requiring Statement: 05/13/2011 Name: ValueAct Holdings GP, LLC Address: 435 Pacific Ave, 4th Fl, San Francisco, CA 94133 Designated Filer: ValueAct Holdings, L.P. Issuer & Ticker: Valeant Pharmaceuticals International, Inc. (VRX) Date of Event Requiring Statement: 05/13/2011 VALUEACT HOLDINGS, L.P., By: VALUEACT HOLDINGS GP, LLC, its General Partner, By:/s/ George F. Hamel. Jr., Chief Operating Officer 2011-05-17 VALUEACT CAPITAL MASTER FUND, L.P., By: VA PARTNERS I, LLC, its General Partner, By:/s/ George F. Hamel. Jr., Chief Operating Officer 2011-05-17 VA PARTNERS I, LLC, By:/s/ George F. Hamel. Jr., Chief Operating Officer 2011-05-17 VALUEACT CAPITAL MANAGEMENT, L.P., By: VALUEACT CAPITAL MANAGEMENT, LLC, its General Partner, By:/s/ George F. Hamel. Jr., Chief Operating Officer 2011-05-17 VALUEACT CAPITAL MANAGEMENT, LLC, By:/s/ George F. Hamel. Jr., Chief Operating Officer 2011-05-17 VALUEACT HOLDINGS GP, LLC, By:/s/ George F. Hamel. Jr., Chief Operating Officer 2011-05-17