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PPD Announces Confidential Submission of Draft Registration Statement for Proposed Initial Public Offering

John Jannarone

WILMINGTON, N.C.–(BUSINESS WIRE)–Pharmaceutical Product Development, LLC today announced that its parent company, PPD, Inc. (formerly known as Eagle Holding Company I), has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering of the parent company’s common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. PPD, Inc. expects to use the proceeds of the offering for general corporate purposes, which may include the repayment of indebtedness. The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions.

This news release is being made pursuant to and in accordance with Rule 135 under the Securities Act of 1933, as amended, and does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.

Contacts

Media:

Ned Glascock

+1 910 558 8760

ned.glascock@ppdi.com

Investors:

Thomas Wilson

+1 910 558 6423

thomas.wilson@ppdi.com