12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025 12/31/2026 12/31/2027 12/31/2028

China Population 1,415,045,928 1,420,706,112 1,425,962,724 1,430,810,998 1,435,246,512 1,439,265,202 1,442,863,365 1,446,037,664 1,448,929,740 1,451,827,599 1,454,731,254
Growth Rate n/a 0.40% 0.37% 0.34% 0.31% 0.28% 0.25% 0.22% 0.20% 0.20% 0.20%

Potential Patient % 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00%
Potential Patients 566,018,371 568,282,445 570,385,090 572,324,399 574,098,605 575,706,081 577,145,346 578,415,066 579,571,896 580,731,040 581,892,502

Penetration Rate 0.000% 0.050% 0.125% 0.300% 0.550% 0.850% 1.250% 1.750% 2.400% 3.100% 3.750%
Growth Rate n/a n/a 150.00% 140.00% 83.33% 54.55% 47.06% 40.00% 37.14% 29.17% 20.97%

Compliance Rate 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00% 95.00%

Treated Patients n/a 269,934 677,332 1,631,125 2,999,665 4,648,827 6,853,601 9,616,150 13,214,239 17,102,529 20,729,920

Cost Per Year n/a $ 2,100 $ 2,121 $ 2,142 $ 2,164 $ 2,185 $ 2,207 $ 2,229 $ 2,251 $ 2,274 $ 2,297
Growth Rate n/a n/a 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00% 1.00%

Total Partner Sales n/a $ 566,861,739 $ 1,436,621,796 $ 3,494,211,295 $ 6,490,171,936 $ 10,158,933,968 $ 15,126,727,377 $ 21,436,248,735 $ 29,751,651,352 $ 38,891,135,511 $ 47,611,218,096

Gross Profit Margin 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00% 65.00%

Net Sales n/a $ 368,460,130 $ 933,804,167 $ 2,271,237,342 $ 4,218,611,759 $ 6,603,307,079 $ 9,832,372,795 $ 13,933,561,678 $ 19,338,573,379 $ 25,279,238,082 $ 30,947,291,762

Royalty % 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00% 12.00%

Cash to Kitov $ - $ 44,215,216 $ 112,056,500 $ 272,548,481 $ 506,233,411 $ 792,396,850 $ 1,179,884,735 $ 1,672,027,401 $ 2,320,628,805 $ 3,033,508,570 $ 3,713,675,011

Discount Rate 17.50%

Discounted CF $ 3,391,367,868