Corporate Overview - Aldeyra Therapeutics focuses on developing innovative therapies for immune-mediated diseases by modulating protein systems rather than directly inhibiting single protein targets[7,8] - As of September 30, 2025, Aldeyra had $753 million in cash, cash equivalents, and marketable securities, expected to fund the company into the second half of 2027[10] RASP Modulation Platform - Aldeyra's approach involves modulating Reactive Aldehyde Species (RASP), which are formed by oxidation and bind to proteins, leading to pro-inflammatory signaling cascades[14] - RASP modulation allows for control of protein systems without completely turning single proteins on or off, potentially leading to broader activity with less toxicity[20,22] - ADX-629, an orally administered RASP modulator, has shown statistically significant changes in lipid profiles in multiple clinical trials, including a Phase 1 trial (P=0.005 for HDL), a Phase 2 psoriasis trial (P=0.036 for LDL/HDL ratio and P=0.0004 for FFA)[33] - ADX-248 binds to pro-inflammatory RASP HNE, leading to cytokine reduction in LPS-challenged mice and improved epidermal erosion scores in an oxazolone mouse model of atopic dermatitis (P=0.0093)[38] - ADX-248 increased brain dopamine and improved motor function in a preclinical Parkinson's disease model, with significant P values at different doses (P=0.05, P=0.001, P=0.004)[42] - ADX-246 binds to RASP retinaldehyde, reducing the toxic retinaldehyde metabolite A2E (P=0.04) in an Abcr knockout mouse model of dry AMD[44] Reproxalap - Reproxalap, a RASP modulator for dry eye disease, showed rapid activity in clinical trials and achieved the primary endpoint of ocular discomfort in a Phase 3 dry eye chamber trial (P=0.002)[48,53] - Aldeyra has an exclusive option agreement with AbbVie Inc for reproxalap, including a potential $100 million upfront payment, a $100 million milestone payment upon FDA approval in dry eye disease, and $200 million in additional regulatory and commercial milestones[61] - Phase 3 INVIGORATE allergen chamber trials for allergic conjunctivitis showed that reproxalap achieved the primary endpoint of patient-reported ocular itching with all P values < 0.0001[63] ADX-2191 - ADX-2191 has the potential to be the first approved drug for primary vitreoretinal lymphoma (PVRL), with approximately 200-600 new cases diagnosed in the United States per year[71]

INVESTOR UPDATE For personal use only 17 December 2025 Important information All references to '$' throughout this presentation refer to Australian Dollars, unless marked otherwise. This presentation is in summary form and is not necessarily complete. It should be read together with the Company's Annual Report for 30 June 2025 including the Appendix 4E, the Appendix 4D and 2025 Interim Results, and other announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au. Thi ...

Company Strategy & R&D Transformation - Neurocrine Biosciences is positioned as a diversified neuroscience and endocrinology leader aiming for sustainable growth and value creation[12] - The company aims to deliver a new medicine every two years, driven by a redesigned R&D organization[30, 31, 132] - R&D transformation includes a goal to advance 20 development candidates in 5 years, focusing on clinically or genetically validated targets[94, 99, 101] - The company is diversifying its therapeutic areas beyond neurology and psychiatry to include endocrinology and immunology[23, 94, 100] - New modalities, including peptides, antibodies, and gene therapy, now represent approximately 60% of the portfolio across therapeutic areas[105] Neuropsychiatry Pipeline - The neuropsychiatry pipeline is positioned to deliver multiple first- and best-in-class medicines this decade[12] - Osavampator, an AMPA PAM, is in Phase 3 development for Major Depressive Disorder (MDD), with data expected in 2027[23, 59] - Phase 2 SAVITRI study results showed statistically significant improvements in depression severity with osavampator, with an effect size of 0.53 at day 28 and 0.73 at day 56 for the 1mg dose[52, 55] - Direclidine, an M4 agonist, is in Phase 3 development for schizophrenia, with initial topline data expected in 2027[23, 77] - Phase 2 data for direclidine showed a PANSS total score change from baseline of -18.2 at week 6, with a change vs placebo of -7.5 (p=0.011) and an effect size of 0.61[73] Endocrinology Pipeline - The company is leveraging its Corticotropin Releasing Factor (CRF) biology expertise to expand in endocrinology and metabolic disease[12, 137] - NBIP-'2118, a CRF2 agonist, is being developed for obesity, with a Phase 1 study planned for the first half of 2026[159]

R&D Leadership and Organization - Sanofi is building a skilled and thoughtful R&D leadership team and organization[5, 6, 7, 106] - The company is strengthening capabilities across research, translational medicines, development, medical, regulatory affairs, and digital[106] Pipeline Highlights and Approvals - Sanofi achieved three new medicine and vaccine approvals in 2025: Qfitlia, Wayrilz, and Nuvaxovid[12, 13, 106] - Dupixent showed benefit across relevant endpoints in Bullous pemphigoid, with 12.2% difference in patients achieving sustained remission compared to placebo + OCS and 27.8% difference in patients with ≥4-point improvement in PP-NRS[20, 21] - Dupixent clinically meaningfully improved radiographic, endoscopic, and symptoms of Allergic fungal rhinosinusitis, with lower proportion of patients receiving SCS treatment and/or surgery[24] - Amlitelimab (OX40L mAb) in AD: first phase 3 study met primary and key secondary endpoints, showing clinically meaningful improvement in skin clearance and disease severity[26] - Brivekimig (TNFaxOX40L Nanobody®) in HS: phase 2a study achieved primary objective, with 54% of participants achieving HiSCR75[28, 29] - Itepekimab (IL33 mAb) in COPD: AERIFY-1 study showed a significant reduction in moderate or severe exacerbations of 27.1% at Week 52 with Q2W dosing across EOS level[38] - Duvakitug (TL1A mAb) in CD/UC: positive and encouraging phase 2b data presented at ECCO 2025, with 48% clinical remission in Crohn's disease high dose group[46, 47] - Fluzone HD demonstrated superior protection vs standard-dose influenza vaccines against hospitalization in older adults, including a -31.9% reduction in laboratory confirmed influenza hospitalization[75] - Monovalent RSV (mRNA) vaccine showed 74.9% efficacy against RSV LRTD in a phase 2 study[80] Pipeline Replenishment and Digital Transformation - Sanofi is progressing on pipeline entries augmented by strategic business development[107] - The R&D digital plan aims at reducing cycle times across the R&D value chain by more than 40%[94, 95, 107] Upcoming News Flow - Sanofi anticipates >15 regulatory decisions, >30 regulatory submissions, and >15 phase 3 data readouts in 2026 and 2027[108]

Expanded Phase 2 (EP2) Overview - The Expanded Phase 2 (EP2) project aims to add a 13 Mtpa plant to achieve a total throughput of 21 Mtpa by the end of 2028[9] - The capital cost for EP2 is estimated at $144 billion[11] - The project targets over 500,000 ounces of annual gold production for the first 10 full years[13] - Phase 1A aims to increase plant design throughput from 6 Mtpa to 8 Mtpa by the end of 2026, with a capital cost of $110 million[9, 11] Production and Cost Guidance - The project anticipates annual average gold production of 500,000-525,000 ounces for the first 10 full years (2029-2038)[14] - Annual average silver production is projected at 2,000,000-2,500,000 ounces for the first 10 full years (2029-2038)[14] - All-in sustaining costs (AISC) are estimated at $1,000-$1,100 per ounce of gold for the first 10 full years[14] Project Execution and Benefits - Front-end engineering and design for EP2 were completed in December 2025, with advanced planning for early works and construction[30] - The EP2 processing plant will be a separate facility adjacent to the Phase 1 processing plant, minimizing disruption to current operations[22] - The project is expected to create approximately 1,200 direct employee and contractor positions for operations, plus around 1,500 employees and contractors during construction[41]

Financial Targets and Performance - Vital Farms targets $2 billion in net revenue by 2030[26] - The company aims for an adjusted EBITDA margin between 15%-17% by 2030[26] - Updated 2025 net revenue guidance is $755-765 million[230] - The company projects at least $115 million in adjusted EBITDA for 2025[230] Brand and Consumer Metrics - Aided brand awareness has grown to 33% as of Q3 2025, a 16 percentage point increase since 2020[240] - Household penetration reached 119% as of Q3 2025, a 62 percentage point increase since 2020[240] - The buy rate has increased to $39, a 70% increase since 2020[240] Retail and Supply Chain - The company has nearly doubled its farm supply in two years, reaching 575 farms with 10 million birds by 2025[105] - The egg category is a $16 billion market and growing[96] - Outdoor access eggs represent 13% of the shell egg market in 2025[100]

Financial Performance - Q3 2025 - Net loss was $10.1 million, compared to a net loss of $28.2 million in the prior year's third quarter[12] - Reported EPS loss was $0.29, with an adjusted EPS loss of $0.23, after adjusting for a tax valuation allowance of $2.0 million[12] - Adjusted EBITDA increased by $5.5 million year-over-year to ($0.7) million[12] - Inventory decreased by $39.2 million, a 17.0% reduction compared to the previous year[12] Balance Sheet and Liquidity - Cash and cash equivalents totaled $8.2 million, with net liquidity at $88.6 million[12] - Debt to Capital ratio is 22.0%[19] - The Asset Based Lending Agreement extends to 2030 and provides for borrowings of up to $125.0 million[21] Fiscal Year 2025 Outlook - Adjusted EBITDA guidance range is affirmed at the higher end, between $23 million and $25 million, compared to the previous range of $20 million to $25 million[12] - Net sales guidance is updated to a range of $555 million to $565 million, compared to the previous guidance of $570 million to $595 million[12] - Capital expenditures are affirmed at $17 million[12] Capital Expenditures Initiatives - The company is investing in capital expenditures for 15 new stores, technology roadmap, website re-platform, etc[27]

Clinical Trial Results of MRT-2359 - MRT-2359 combined with enzalutamide demonstrated a 100% PSA response rate in heavily pre-treated mCRPC patients with AR mutations[5, 38, 59] - Among the 4 patients with AR mutations, 2 patients showed PSA90 responses and 2 patients showed PSA50 responses[5, 38] - Two patients with AR mutations achieved RECIST partial responses (1 confirmed, 1 unconfirmed), and two had stable disease, resulting in a 100% disease control rate in the AR mutant population[5] - An overall disease control rate (DCR) of 64% was observed in 14 evaluable patients, including 5 patients without AR mutations who had stable disease[5, 59] Safety and Tolerability - The combination of MRT-2359 and enzalutamide was well-tolerated, with the most frequent adverse events (AEs) being mild or moderate manageable GI symptoms[5, 33, 59] - Treatment-related AEs occurring in >15% patients included fatigue (50%), diarrhea (45%), nausea (35%), arthralgia (30%), decreased appetite (30%), vomiting (30%), neutropenia (25%), and muscular weakness (20%)[31, 32] Future Plans - The company plans to initiate a signal-confirming 2-stage Phase 2 study (MODeFIRe-1) of MRT-2359 in combination with a 2nd generation AR inhibitor in 2026, targeting AR-mutated mCRPC[2, 56, 59] - Updated data from the Phase 1/2 study is expected to be presented at the ASCO Genitourinary Cancers Symposium in February 2026[59]

Investor Presentation September 30, 2025 CAUTIONARY STATEMENT This document is current as of September 30, 2025, except where otherwise stated. The information contained in this presentation is provided by Organigram Global Inc. ("Organigram" or the "Company") for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securities of Organigram or other financial products. No part of this presentation shall form the basis or be reli ...

Efficacy Results - The Phase 2b REZOLVE-AA study evaluated rezpegaldesleukin (REZPEG) for alopecia areata [1, 19] - The study achieved statistical significance for both treatment arms after excluding 4 patients with major study eligibility violations [36] - The mean percentage change in SALT score from baseline to week 36 was -30% in the REZPEG arms versus -6% in the placebo arm (p<0.05), after excluding 4 patients with major study eligibility violations [92] - 42% of REZPEG-treated patients achieved a best reduction in SALT score of 30% or greater [47] - 36% of REZPEG-treated patients achieved a best reduction in SALT score of 50% or greater [47] - 17% of REZPEG-treated patients achieved a best reduction in SALT score of 75% or greater [47] Safety and Tolerability - The study showed a consistent safety profile with previously reported studies, with nearly all adverse events (AEs) being mild to moderate in severity and self-resolved [31] - The discontinuation rate due to AEs was low at 1.4% for REZPEG-exposed patients [31] - The placebo-adjusted injection site reaction (ISR) rate was consistent with prior studies, with 87% being mild in severity [31] Market and Strategic Implications - The data supports a first-in-class Treg mechanism of action with fast onset of action in moderate-to-severe patients [9] - 54% of physicians report they would try patients on alternate therapies for AA before prescribing JAKi [10] - G7 market size for Alopecia Areata is projected to reach $4 billion by 2033 [7]