X0304 4 2011-12-01 0 0000885590 Valeant Pharmaceuticals International, Inc. VRX 0001536053 Schiller Howard Bradley 7150 MISSISSAUGA ROAD MISSISSAUGA A6 L5N 8M5 ONTARIO, CANADA 0 1 0 0 EVP and CFO Common Stock, no par value 2011-12-01 4 P 0 21500 46.05 A 21500 D Common Stock, no par value 2011-12-02 4 P 0 11000 46.26 A 32500 D Non-Qualified Stock Options (right to purchase) 46.21 2011-12-01 4 A 0 200000 46.21 A 2015-12-01 2021-12-01 Common Shares, no par value 200000 200000 D Restricted Share Units 0 2011-12-01 4 A 0 90000 0 A Common Shares, no par value 90000 90000 D Represents the weighted average purchase price. Purchases were made in the range of $45.85 to $46.47. Represents the weighted average purchase price. Purchases were made in the range of $46.10 to $46.325. The options vest 25% per year for 4 years starting from the date of grant with the first vest date falling on the first anniversary of the grant, the second vest date falling on the second anniversary of the grant, the third vest date falling on the third anniversary of the grant and the fourth vest date falling on the fourth anniversary of the grant. Each Restricted Share Unit ("RSUs") represents a contingent right to receive between zero and three common shares, no par value, of Valeant Pharmaceuticals International, Inc. ("Valeant"), subject to performance based vesting criteria. See note (5). The performance based RSUs are eligible to vest on the achievement of TSR targets ranging from 15% to 45% over a base price of $42.695 on each of three measurement dates: 25% would vest on September 1, 2014, 50% on December 1, 2014 and 25% on March 1, 2014, with early vesting possible at higher TSR levels. by: Nicholas Zanoni for Howard Schiller 2011-12-05