Q4 and Full Year 2024 Earnings Presentation March 4, 2025 © 2025 Esperion Therapeutics, Inc. All rights reserved. Forward-looking Statements & Disclosures This investor presentation contains forward-looking statements that are made pursuant to the safe harbor provisions of the federal securities laws, including statements regarding marketing strategy and commercialization plans, current and planned operational expenses, future operations, commercial products, clinical development, plans for potential future ...

Financial Guidance - For the fiscal year ending December 31, 2025, research & development expenses are expected to be in the range of $55 million to $65 million[5] - Selling, general and administrative expenses are projected to be between $160 million and $170 million[5] - Total operating expenses are anticipated to be in the range of $215 million to $235 million[5] - The financial guidance reflects management's current expectations for the business[5] - The company presented this financial guidance at the 43rd Annual J.P. Morgan Healthcare Conference[5] Forward-Looking Statements - Forward-looking statements include expectations about full year expenses and financial performance[6] - Actual results may differ materially from the forward-looking statements due to estimates, assumptions, and uncertainties[6] - The company disclaims any obligation to update or revise forward-looking statements, except as required by law[6] Presentation and Reporting - Selected slides from the presentation are attached as Exhibit 99.1 to the Current Report[5] - The report was signed by Sheldon L. Koenig, President and CEO, on January 16, 2025[11]

Core Insights - Esperion reported a significant increase in total revenue for FY24, growing 186% year-over-year to $332.3 million, with U.S. net product revenue increasing 48% to $115.7 million [1][19] - The company is focusing on three strategic pillars: continued revenue growth, achieving operating profitability, and expanding its portfolio and pipeline [3][4] - Esperion is developing triple combination products with bempedoic acid in the U.S. to enhance treatment options for patients [1][8] Financial Performance - Q4 total revenue reached $69.1 million, a 114% increase year-over-year, while U.S. net product revenue grew 52% to $31.6 million [1][19] - Collaboration revenue surged 227% in Q4 and 470% for the full year, driven by increased royalty sales and product sales to collaboration partners [19] - The company reported a net loss of $21.3 million for Q4 and $51.7 million for the full year, a significant reduction from losses of $56.3 million and $209.2 million in 2023 [14][15] Market Expansion and Strategy - Esperion's products are now approved in 39 countries, enhancing access for patients with high LDL-C levels at risk of cardiovascular disease [4] - The company has expanded payer access, covering over 173 million lives across various insurance plans, and has seen a 12% increase in total retail prescription equivalents in Q4 [5][19] - Esperion is advancing its clinical pipeline and has initiated the development of two triple combination products, which may offer LDL-C lowering in excess of 60% [8][19] Research and Development - The company is committed to R&D, with a focus on acquiring synergistic cardiometabolic assets while advancing its clinical pipeline [8] - Esperion's R&D expenses decreased significantly in 2024, reflecting the close-out of the CLEAR Outcomes study [19] - The company plans to announce a lead indication for its next-generation inhibitors at an R&D Day in April 2025 [12] Financial Outlook - Esperion expects full-year 2025 operating expenses to be between $215 million and $235 million, including approximately $15 million in non-cash stock compensation expenses [17] - The company ended 2024 with cash and cash equivalents of $144.8 million, up from $82.2 million in 2023, indicating improved financial stability [15][33]

Core Insights - Esperion Therapeutics has entered into a license and distribution agreement with CSL Seqirus for the exclusive rights to commercialize NEXLETOL® and NEXLIZET® in Australia and New Zealand [1][4] - The partnership aims to address the significant burden of cardiovascular disease in these regions, where it affects 1.2 million people in Australia and 175,000 adults in New Zealand [2][3] Agreement Details - Under the agreement, Esperion will receive an upfront payment and milestone payments of up to approximately $5 million, and will supply finished products to CSL Seqirus at a profitable transfer price [5] - CSL Seqirus will handle the commercialization aspects, including regulatory approval, reimbursement, and marketing [4] Product Indications - NEXLIZET and NEXLETOL are indicated for reducing LDL-C cholesterol and the risk of cardiovascular disease in adults who cannot take statin therapy, as well as for adults with primary hyperlipidemia [6][8] Company Background - Esperion Therapeutics is focused on developing non-statin medications for patients at risk of cardiovascular disease, supported by the CLEAR Cardiovascular Outcomes Trial involving nearly 14,000 patients [17][18] - CSL Seqirus is a major player in the influenza vaccine market and is committed to providing innovative pharmaceuticals for various health conditions, including cardiovascular disease [15][16]

Core Viewpoint - Esperion Therapeutics (ESPR) is anticipated to report a year-over-year increase in earnings driven by higher revenues, with a consensus outlook suggesting a quarterly loss of $0.14 per share, reflecting a 72% improvement from the previous year, and revenues expected to reach $70.01 million, marking a 117.1% increase from the same quarter last year [1][3]. Earnings Expectations - The upcoming earnings report is scheduled for March 4, and the stock may experience upward movement if the reported figures exceed expectations, while a miss could lead to a decline [2]. - The consensus EPS estimate has remained unchanged over the last 30 days, indicating stability in analyst expectations [4]. Earnings Surprise Prediction - The Zacks Earnings ESP model indicates that the Most Accurate Estimate for Esperion is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -8.70%, suggesting a bearish outlook from analysts [10]. - The stock currently holds a Zacks Rank of 4, complicating predictions of an earnings beat [11]. Historical Performance - In the last reported quarter, Esperion was expected to post a loss of $0.14 per share but actually reported a loss of $0.15, resulting in a surprise of -7.14% [12]. - Over the past four quarters, the company has beaten consensus EPS estimates three times [13]. Industry Comparison - Amneal Pharmaceuticals (AMRX), another player in the Zacks Medical - Drugs industry, is expected to report earnings of $0.15 per share, reflecting a year-over-year change of +7.1%, with revenues projected at $707.4 million, up 14.7% from the previous year [17]. - Amneal's consensus EPS estimate has remained unchanged, but a higher Most Accurate Estimate has resulted in an Earnings ESP of 2.27%, indicating a likelihood of beating the consensus EPS estimate [18].

Company Overview - Esperion Therapeutics, Inc. is a commercial stage biopharmaceutical company focused on developing new medicines for unmet patient needs, particularly in cardiovascular disease [3] - The company has developed the only FDA-approved oral, once-daily, non-statin medications for patients with elevated low-density lipoprotein cholesterol (LDL-C) [3] - Esperion's medications are supported by the CLEAR Cardiovascular Outcomes Trial, which involved nearly 14,000 patients [3] Financial Reporting - Esperion will report its third quarter 2024 financial results on March 4, 2025, before the market opens [1] - Following the financial results release, management will host a webcast at 8:00 a.m. ET to discuss the results and provide business updates [1] Business Development - The company is advancing its next-generation program focused on developing ATP citrate lyase inhibitors (ACLYi), leveraging new insights into drug design [3] - Esperion is evolving into a leading global biopharmaceutical company through commercial execution, international partnerships, and collaborations [4]

Summary of the Conference Call Company and Industry - **Company**: Esperion Therapeutics - **Industry**: Cardiovascular Disease Treatment, specifically focusing on lipid-lowering therapies Key Points and Arguments 1. **Unmet Need in Cardiovascular Disease**: Atherosclerotic cardiovascular disease is the leading cause of death globally, with 44% of US adults affected. Over half of these patients do not meet LDL-C goals, and 30% may be unable or unwilling to take statins [7][8][9]. 2. **Clinical Development of Bempedoic Acid**: Esperion's clinical trials for bempedoic acid focused on patients with unmet needs, including those with statin intolerance and primary prevention patients. The trials included a combination of bempedoic acid with low-dose statins and a fixed combination with Ezetimibe [8][10][11]. 3. **Phase Three Trials**: Five placebo-controlled Phase Three trials demonstrated significant reductions in LDL cholesterol and high-sensitivity C-reactive protein (hsCRP) across various patient populations, including those with cardiovascular disease and statin intolerance [11][12][13]. 4. **Clear Outcomes Study**: This unique trial validated that bempedoic acid reduces cardiovascular risk by lowering LDL cholesterol. It included both primary and secondary prevention patients and showed a 13% relative risk reduction in major adverse cardiovascular events (MACE) [12][13][14]. 5. **Safety Profile**: Bempedoic acid was generally well tolerated, with a safety profile similar to placebo. Myalgia was the most common side effect, but the incidence was lower than with statins [22][23]. 6. **Market Positioning**: Bempedoic acid is the only non-statin FDA-approved drug with data in primary prevention patients, addressing a significant unmet need in cardiovascular risk reduction [25][26]. 7. **Real-World Experience**: Doctor Moriarty emphasized the importance of early intervention in atherosclerosis and noted that bempedoic acid has been effective in managing patients with statin intolerance, achieving up to a 40% reduction in LDL [50][52]. 8. **Patient Preferences**: There is a strong preference among patients for oral therapies over injectables due to convenience and cost considerations [55][56]. 9. **Future Directions**: The potential for combining bempedoic acid with statins and other therapies is being explored, with ongoing studies to assess the efficacy of triple combination therapies [86][90]. Other Important but Possibly Overlooked Content 1. **Educational Gaps**: There is a lack of awareness among some healthcare providers regarding the benefits and availability of bempedoic acid, which may hinder its adoption [96][97]. 2. **Inflammation and Cardiovascular Risk**: The discussion highlighted the importance of addressing inflammation in cardiovascular disease, with bempedoic acid showing promise in lowering inflammatory markers like hsCRP and RDW [46][48][49]. 3. **Cost Considerations**: The cost of therapies remains a significant factor in prescribing practices, with generics being preferred due to their affordability [76][90]. This summary encapsulates the key insights from the conference call, focusing on the clinical development, market positioning, and real-world application of bempedoic acid in treating cardiovascular disease.

Group 1 - Esperion will host a virtual key opinion leader (KOL) event to discuss the real-world use of its medications NEXLETOL and NEXLIZET for LDL-Cholesterol management [1] - The event will feature LeAnne Bloedon and Dr. Patrick Moriarty, highlighting the ongoing unmet need in LDL-Cholesterol management to prevent cardiovascular disease [1] - Registration for the KOL webinar is available, and a live audio webcast will be accessible on Esperion's website [1] Group 2 - Esperion Therapeutics is a commercial stage biopharmaceutical company focused on developing new medicines for patients at risk of cardiovascular disease with elevated LDL-C [2] - The company has developed the only FDA-approved oral, once-daily, non-statin medications for this patient group, supported by the nearly 14,000 patient CLEAR Cardiovascular Outcomes Trial [2] - Esperion is advancing its next-generation program focused on ATP citrate lyase inhibitors (ACLYi), enabling rational drug design for potent and specific inhibitors [2] Group 3 - Esperion is evolving into a leading global biopharmaceutical company through commercial execution, international partnerships, and advancements in its pre-clinical pipeline [3]

Core Viewpoint - Esperion has successfully closed a series of financing transactions, including a $150 million senior secured term loan and a new $100 million convertible note, aimed at repaying a significant portion of its existing $265 million convertible debt [1][2]. Financing Transactions - The financing includes a $150 million senior secured term loan led by Athyrium Capital Management and HealthCare Royalty, which will be used to repay $210 million of existing convertible debt [1][3]. - The new $100 million convertible notes will be issued to accredited investors, with proceeds also allocated for operational cash [1][5]. Debt Restructuring - The company has restructured 80% of its existing debt, extending the maturity date by five years or more, which enhances its financial flexibility [2]. - The loan will bear an interest rate of 9.75% if paid in cash and 11.75% if paid in-kind [3]. Investment Confidence - Athyrium Capital Management expressed confidence in Esperion's strategy and its potential for long-term success in developing innovative therapies for cardiovascular diseases [4][18]. Product Information - Esperion's products, NEXLETOL and NEXLIZET, are indicated for reducing the risk of cardiovascular events in patients unable to take statin therapy and for lowering LDL-C levels in adults with primary hyperlipidemia [6].

Core Viewpoint - Esperion has entered into privately negotiated exchange and subscription agreements to issue $100 million of new convertible senior subordinated notes, replacing existing notes due in 2025 with new notes due in 2030 [1][2]. Group 1: Exchange and Subscription Transactions - The company will issue approximately $57.5 million in new notes and $153.4 million in cash in exchange for approximately $210.1 million of existing 2025 notes, along with an additional $42.5 million in new notes for cash [1][3]. - The transactions are expected to close on or about December 17, 2024, subject to customary closing conditions [2]. Group 2: Financial Details and Use of Proceeds - Esperion will not receive cash proceeds from the exchange transactions but expects to receive approximately $42.5 million from the subscription transactions, which will be used for general corporate purposes [3]. - The new notes will have a semi-annual interest rate of 5.75% and will mature on June 15, 2030, with an initial conversion rate of 326.7974 shares per $1,000 principal amount [4]. Group 3: Redemption and Repurchase Rights - The new notes can be redeemed by the company starting December 20, 2027, under certain conditions, with the redemption price equaling the principal amount plus accrued interest [5]. - In the event of a fundamental change, holders may require the company to repurchase their notes at the principal amount plus accrued interest [6]. Group 4: Regulatory and Placement Information - The new notes will be issued only to accredited institutional investors and have not been registered under the Securities Act [7]. - The exchange transactions will be partially funded by a new $150 million senior secured term loan credit facility with Athyrium Capital Management [8].