13D Filing: Solus Alternative Asset Management and Concordia International Corp.

Item 5.

Interest in Securities of the Issuer.

The information contained in Item 3 of this Schedule 13D is incorporated by reference herein.

(a) – (b) The responses of each of the Reporting Persons with respect to Rows 11, 12 and 13 of the cover pages of this Schedule 13D that relate to the aggregate number and percentage of Limited Voting Shares are incorporated herein by reference.

The responses of each of the Reporting Persons with respect to Rows 7, 8, 9 and 10 of the cover pages of this Schedule 13D that relate to the number of Limited Voting Shares as to which each of the Reporting Persons referenced in Item 2 above has sole or shared power to vote or to direct the vote and sole or shared power to dispose or to direct the disposition are incorporated herein by reference.

The aggregate percentage of Limited Voting Shares reported as beneficially owned by the Reporting Persons was calculated based on 48,913,504 Limited Voting Shares issued and outstanding as of September 11, 2018, as reported by the Issuer in its press release, dated September 11, 2018, regarding the completion of the Recapitalization Transaction, which press release was filed as Exhibit 99.1 to the Issuer’s Report on Form 6-K filed with the SEC on September 11, 2018.

Each Reporting Person may be deemed to beneficially own 8,430,073 Limited Voting Shares (representing approximately 17.2% of the Limited Voting Shares).

The Reporting Persons may be deemed to share voting power and dispositive power with each other with respect to the Limited Voting Shares held by them. The filing of this Schedule 13D shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any securities covered by this Schedule 13D, and each Reporting Person hereby expressly disclaims beneficial ownership in the securities reported in this Schedule 13D and membership in a “group” as that term is described in Rule 13d-5(b)(1) of the Act.

(c) Except as
disclosed in Item 3 of this Schedule 13D, there have been no transactions with respect to the Limited Voting Shares during
the sixty days prior to the date of filing of this Schedule 13D by the Reporting Persons except for the following dispositions
of Limited Voting Shares by the Reporting Persons in the open market: (i) 40,100 Limited Voting Shares on September 12, 2018
at a price of C$25.08 per share (equal to $19.27 per share, based on an exchange rate of $1.00 = C$1.3014), (ii) 1,000
Limited Voting Shares on September 13, 2018 at a price of C$26.06 per share (equal to $20.05 per share, based on an exchange
rate of $1.00 = C$1.2997) and (iii) 1,100 Limited Voting Shares on September 17, 2018 at a price of C$26.00 per share (equal to $19.95
per share, based on an exchange rate of $1.00 = C$1.3033).

(d) The Funds managed on a discretionary basis by the Reporting Persons have the right to receive or the power to direct the receipt of dividends or the proceeds from the sale of the Limited Voting Shares.

One such account, SOLA Ltd, has the right to receive or the power to direct the receipt of dividends or the proceeds from the sale of more than 5% of the Limited Voting Shares.

(e) Not applicable.