UNITED STATES SECURITIES AND EXCHANGE COMMISSION Table of Contents Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . OR ☐ SHELL COMPANY REPORT PURSUANT TO SE ...

Mereo BioPharma Group plc 2019 Interim Financial Results Conference Call Summary Company Overview - **Company**: Mereo BioPharma Group plc (NASDAQ:MREO) - **Date of Call**: September 17, 2019 - **Participants**: - Richard Jones – Chief Financial Officer - Denise Scots-Knight – Chief Executive Officer Key Industry and Company Insights Core Strategy and Developments - Mereo BioPharma has made significant progress in the first half of 2019, focusing on rare diseases, particularly osteogenesis imperfecta (OI) and severe alpha-1 antitrypsin deficiency (AATD) [6][7] - The company has a diversified portfolio of therapeutic candidates, with significant investments from major pharmaceutical companies [7] - Completed two large Phase 2 studies in COPD and hypogonadotropic hypogonadism, both meeting primary endpoints [7] Lead Product Candidates - **Setrusumab**: A human monoclonal antibody targeting sclerostin, aimed at treating OI. It has shown a dual-action anabolic effect to build bone density [8][9] - OI is a rare genetic disorder with no FDA or EMA approved therapies [9] - Setrusumab has received prime designation from the EMA and orphan status from both EMA and FDA [9] - Interim data from the ASTEROID study showed a mean increase in trabecular volumetric bone mineral density (Tr vBMD) of 1.4% at three months and 3.2% at six months [10] - The study is the largest investigational clinical study in adult OI patients in the U.S. and EU [13] - **Alvelestat**: A small molecule inhibiting neutrophil elastase, currently in a Phase 2 proof-of-concept study for AATD [16][17] - AATD patients suffer from progressive lung deterioration, with the only approved therapy being plasma-derived protein, which is not widely available [18] - Top line data from the study is expected in mid-2020 due to slower than anticipated patient enrollment [18] Financial Highlights - R&D expenditure increased to £11.9 million in H1 2019 from £10.9 million in H1 2018 [25] - Administrative expenses decreased to £6.5 million from £7.1 million in the same period [26] - Total cash resources increased to £36.1 million following the merger with OncoMed Pharmaceuticals [27] Upcoming Milestones - Anticipated data readouts from lead programs in H2 2019 and into 2020 [6] - Completion of the ASTEROID study and initiation of a pivotal pediatric study for setrusumab [14][44] - Continued discussions for potential partnerships, particularly for leflutrozole and navicixizumab [42] Additional Important Insights - The company is focused on building relationships with key opinion leaders (KOLs) and patient representative organizations in both the EU and North America [19] - Regulatory interactions are ongoing, including discussions with the EMA regarding the use of HRpQCT as a biomarker [15] - The company aims to position itself as a leading integrated rare disease company, with a focus on significant value inflection points for its lead assets [8] This summary encapsulates the key points from the Mereo BioPharma conference call, highlighting the company's strategic focus, product development, financial performance, and future milestones.

| --- | --- | --- | --- | |-------|-------------------------|-------|-------| | | | | | | | | | | | | 2019 INTERIMS CORPORATE | | | DISCLAIMER THIS PRESENTATION AND ITS CONTENTS ARE CONFIDENTIAL AND ARE NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. This presentation has been prepared by Mereo BioPharma Group plc (the "Company") solely for your information and for use at a presentation for th ...

OR Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Washington, D.C. 20549 For the fiscal year ended December 31, 2018 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . OR ☐ SHELL COMPANY REPORT PURSUANT TO SE ...