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As previously announced, on May28, 2015, Broadcom Corporation (the Company) entered into an Agreement and Plan of Merger with Avago Technologies Limited (Avago), Pavonia Limited (Holdco), Safari Cayman L.P. (Holdco LP) and the other parties thereto. As disclosed in the definitive proxy statement/prospectus dated September28, 2015 and forming a part of the registration statement on Form S-4 filed with the SEC by Holdco and Holdco LP and declared effective by the SEC on September25, 2015, eleven putative class action complaints have been filed by and purportedly on behalf of alleged Broadcom shareholders. One putative class action complaint was filed in the Superior Court of the State of California, County of Santa Clara, captioned Jew v. Broadcom Corp., et al., Case No.1-15-CV-281353 , filed June2, 2015. Eight putative class action complaints were filed in the Superior Court of the State of California, County of Orange, captioned: Xu v. Broadcom Corp., et al., Case No.30-2015-00790689-CU-SL-CXC, filed June1, 2015; Freed v. Broadcom Corp., et al., Case No.30-2015-00790699-CU-SL-CXC, filed June1, 2015; N.J. Building Laborers Statewide Pension Fund v. Samueli, et al., Case No.30-15-00791484-CU-SL-CXC, filed June4, 2015; Yiu v. Broadcom Corp., et al., Case No.30-2015-00791490-CU-SL-CXC, filed June4, 2015; Yiu, et al. v. Broadcom Corp., et al., Case No.30-2015-00791762-CU-BT-CXC, filed June5, 2015; Yassian, et al. v. McGregor, et al., Case No.30-2015-00793360-CU-SL-CXC, filed June15, 2015; Seafarers Pension Plan v. Samueli, et al., Case No.30-2015-00794492-CU-SL-CXC, filed on June19, 2015; and Engel v. Broadcom Corp., et al., Case No.30-2015-00797343-CU-SL-CXC, filed on July2, 2015 (together with Jew v. Broadcom Corp., et al., the state actions). On August14, 2015, the Superior Court of the State of California, County of Orange, issued an order coordinating the state actions. The coordinated state actions are captioned Broadcom Shareholder Cases, JCCP 4834. Two putative class action complaints were filed in the United States District Court for the Central District of California, captioned: Wytas, et al. v. McGregor, et al., Case No.8:15-cv-00979, filed on June18, 2015; and Yassian, et al. v. McGregor, et al., Case No.8:15-cv-01303, filed on August15, 2015 (the federal actions). On September2, 2015, plaintiffs in the Wytas, et al. v. McGregor, et al. matter filed an amended complaint adding claims under the federal securities laws. The federal actions have been consolidated under the caption In re Broadcom Corporation Stockholder Litigation; Case No.8:15-cv-00979-JVS-PJW. The complaints name as defendants, among other parties, Broadcom, members of Broadcoms Board of Directors and Avago, and they allege breaches of fiduciary duties and aiding and abetting of those alleged breaches. The complaints seek, among other things, injunctive relief to prevent the transactions from closing. Additionally, the federal actions allege violations of Sections 14(a) and 20(a) of the Exchange Act and SEC Rule 14a-9. On September25, 2015 the Superior Court of the State of California, County of Orange, stayed the state actions pending the outcome of the federal actions. By order dated September 18, 2015 the federal district court for the Central District of California appointed Farshid Yassian interim lead plaintiff (the Interim Lead Plaintiff) for the federal actions, pending final determination of lead plaintiff status.

The Interim Lead Plaintiff in the federal actions has raised certain disclosure claims, which...


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