Q3 2025 earnings November 4, 2025 Forward looking statements This presentation contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to, information or predictions concerning our future financial performance, including our financial outlook for Q4 2025 and the full fiscal year 2025 under the heading "Outlook" and management's estimates under the heading " ...

Third Quarter 2025 Earnings November 4, 2025 1 Safe Harbor Statement Executive Summary | Continuing Operations(1) | Continuing Operations(1) | Executive Summary | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Non-GAAP results including new tariffs: | Non-GAAP results including new tariffs: | Revenue(2) | Revenue(2) | million grew 8% on a constant currency(3) | million grew 8% on a constant currency(3) | • | • | of $371 | of $3 ...

Financial Performance - XDEMVY net sales reached $118.7 million in Q3 2025[30], representing a ~147% year-over-year growth[11, 30] - Over 103,000 XDEMVY bottles were delivered to patients in Q3 2025[30] - The gross-to-net discount was 44.7% in Q3 2025[30] - The company projects XDEMVY net product sales of approximately $140-$145 million for Q4 2025[32] and a gross-to-net discount of ~43-45%[33] - Full-year 2025 XDEMVY net product sales are projected to be approximately $440-$445 million[34] Market and Commercial Expansion - An estimated 25 million Americans are living with Demodex blepharitis (DB)[16] - Approximately 9 million patients are proactively seeking treatment for DB or complementary eye conditions/diseases[16] - Over 20,000 eye care professionals (ECPs) are prescribing XDEMVY[20] - There was a 20% quarter-over-quarter (QoQ) growth in ECPs prescribing XDEMVY once per week[20], and a 30% QoQ growth in ECPs prescribing XDEMVY more than once per week[20] Pipeline Development - The company plans to initiate a Phase 2 study for TP-04 (ocular rosacea) in Q4 2025[35] and a Phase 2 study for TP-05 (Lyme Disease prevention) in 2026[14, 35] - The company is on track for potential submission of XDEMVY in Europe in 2026[14, 35] and regulatory approval in 2027[35]

Financial Performance - Total company net sales reached $34 million in Q3 2025, a 33% increase year-over-year[10] - Tru Niagen® net sales were $26 million in Q3 2025, up 44% year-over-year[10] - Gross margin improved to 64.5% in Q3 2025, a 100 basis points increase year-over-year[10] - Net income was $4.6 million, or $0.06 earnings per share, an increase of $2.7 million and $0.04 year-over-year[10] - Adjusted EBITDA reached $6.4 million, up $3.5 million year-over-year[10] - Cash provided from operations year-to-date was $12.8 million, with $64.3 million in cash and no debt[10] Sales Mix and Growth - Tru Niagen® net sales accounted for 77% of total net sales in Q3 2025, compared to 71% in Q3 2024[28] - Niagen®-related net sales remained at 97% of total net sales in both Q3 2025 and Q3 2024[28] - Year-to-date net sales reached $99.6 million, a 36% increase year-over-year[34] Outlook - The company reaffirmed its increased full-year 2025 net sales growth outlook to between 25% and 30%, driven by strong momentum in Tru Niagen® and Niagen® ingredients[10]

Q3 2025 Financial Highlights November 4, 2025 PAGE 2 Note on Forward-Looking Statements This presentation contains "forward-looking statements" within the meaning of U.S. federal securities laws. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would," or similar expres ...

Financial Performance - Q3 production reached 213800 Boe/d, with over 53% being oil[15] - Adjusted EBITDAX for Q3 was $5882 million[15] - Adjusted Free Cash Flow for Q3 was $2343 million[15] - Net debt reduced by over $60 million, resulting in a leverage of 11x[15] Capital Allocation - Share repurchases in Q3 amounted to $12 million[15] - A cash dividend of $020 per share was paid in Q3, resulting in an annualized dividend yield of 4%[15] - Cumulative capital returned to stockholders reached $625 million, with over 35% of FCF returned[24] Operational Highlights - Estimated Net Proved Reserves increased by 68% from December 31, 2020, to December 31, 2024[10] - Total Net Production is expected to increase by 64% from full-year 2020 to estimated full-year 2025[10] - Oil Production is expected to increase by 76% from full-year 2020 to estimated full-year 2025[10]

Financial Performance and Guidance - Mirum Pharmaceuticals expects net product sales of $500-510 million in 2025[7, 100] - The company had a strong financial position with $378 million in cash balance[8, 101] - Mirum anticipates achieving positive cash flow in 2025[8, 100] Approved Products and Pipeline - Mirum has 3 approved ultra-rare medicines[7, 9] - LIVMARLI is approved for Alagille Syndrome (ALGS) and Progressive Familial Intrahepatic Cholestasis (PFIC)[9, 14] - CHOLBAM and CTEXLI are bile acid replacement therapies for rare genetic diseases[9, 26] - Volixibat is in development for Primary Sclerosing Cholangitis (PSC) and Primary Biliary Cholangitis (PBC) with positive interim analysis[9, 44] - MRM-3379 is a PDE4D inhibitor in Phase 2 development for Fragile X Syndrome (FXS)[9, 78] Clinical Trials and Milestones - EXPAND Phase 3 study is enrolling patients with ultra-rare cholestatic pruritus, excluding PSC, PBC, ICP, ALGS and PFIC, with enrollment completion expected in 2026[9, 39, 42] - VISTAS study (PSC) expects confirmatory topline data in Q2 2026[9, 63] - VANTAGE study (PBC) expects enrollment completion in 2026[9, 72]

Disclaimer and Forward-Looking Statements This presentation contains "forward-looking" statements, as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are based on our management's beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements other than statements of historical facts contained in this presentation, including statements regarding our d ...

Vaxcyte's PCV Franchise Highlights - Vaxcyte is developing a potential best-in-class pneumococcal conjugate vaccine (PCV) franchise, leveraging a highly attractive PCV market and an exclusive cell-free platform[10] - The company has aligned critical resources, including a strategic manufacturing approach with agreements with Lonza and Thermo Fisher Scientific, and approximately $27 billion in cash, cash equivalents, and investments as of September 30, 2025[14] - VAX-31, the broadest-spectrum PCV in the clinic, is advancing to Phase 3 with a pivotal non-inferiority study expected to start in December 2025, and has received FDA Breakthrough Therapy designation for IPD and pneumonia[15] Cell-Free Protein Synthesis Platform - Vaxcyte's cell-free protein synthesis platform enables the design and production of proteins beyond the reach of conventional methods, offering speed, flexibility, and scalability for superior conjugate and novel protein vaccines[19, 21] - The platform allows for site-specific conjugation, enabling consistent exposure of T-cell and B-cell epitopes on protein carriers, and permits the production of "tough-to-make" protein antigens[22] VAX-31 Clinical Program & Market Opportunity - VAX-31 is designed to expand protection with the broadest disease coverage in adults, potentially covering approximately 95% of IPD in U S adults aged 50 and older[15, 68] - The global pneumococcal vaccine market is currently valued at approximately $8 billion and is expected to reach approximately $13 billion by 2027, driven primarily by growth in the adult market[36, 86] VAX-24 Infant Study Results - Final VAX-24 Phase 2 infant study results demonstrate the potential to achieve the broadest coverage of any infant PCV on the market, with a safety and tolerability profile similar to the standard of care[132] - VAX-24 elicited substantial IgG, OPA, and memory responses, performing particularly well against currently circulating serotypes contained in the vaccine, with dose-dependent immune responses and little to no evidence of carrier suppression observed[134]

Financial Performance & Growth - NeuroPace's 2024 revenue reached $79.9 million, demonstrating a 22% year-over-year growth[12] - Q3 2025 revenue was $27.4 million, a 30% increase year-over-year[15] - Gross margin in Q3 2025 was 77.4%, a 417 bps increase year-over-year[15] - FY 2025 revenue guidance is projected to be between $97 million and $98 million, representing an 18%-23% growth[64] RNS System & Clinical Data - The RNS System has been implanted in over 6,000 patients[12] - The RNS System demonstrated a 75% median seizure reduction at 9 years in the original FDA study results[28] - The FDA post-approval study results showed an 82% median seizure reduction at 3+ years[28] Market Opportunity & Expansion - The annual target market opportunity is estimated to be over $3.5 billion[12] - The company is targeting a $55 billion+ total addressable market (TAM) for drug-resistant epilepsy (DRE)[41] - There are approximately 1.2 million people in the U S with drug-resistant epilepsy[18]