Apontis Pharma AG

Investor Presentation • May 10, 2022

APONTIS PHARMA

The Single Pill Company

3M 2022 Results

Disclaimer

The following presentation, including any printed or electronic copy of these slides, the talks given by the presenters, the information communicated during any delivery of the presentation and any question and answer session and any document or material distributed at or in connection with the presentation (together, the "Presentation"), has been prepared by APONTIS PHARMA AG (the "Company"), is not an offer to sell any securities or an invitation to purchase securities or the solicitation of an offer to buy securities. This Presentation is not an advertisement and not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of June 14, 2017, as amended.

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APONTIS PHARMA Executive Team

Thomas Milz

Chief Product Officer

• Business Development Market Access
• Medical & Regulatory Affairs • Product Development • Strategy

Karlheinz Gast

Chief Executive Officer

• Marketing & Sales
• Human Resources
• Investor Relations

Thomas Zimmermann

Chief Finance Officer

• Finance
• Supply Chain IT
• Compliance

designed to help tackle this epidemic"

APONTIS PHARMA started successfully in year 2022: Total Revenues +31% to EUR 14.2 million EBITDA +162% to EUR 2.4 million

Financial Highlights Q1 2022

• Single Pill Revenues +40% to EUR 8.7 million

Successful Q1 2022 strengthens financial position

APONTIS PHARMA started successfully in year 2022

New products pipeline and extended cooperation

• Market Authorization granted for Tonotec Lipid
• Market Authorizitation granted for RosuASS
• Submission Caramlo HCT to BfArM (Federal Institute for Drugs and Medical Devices)
• Agreement with Develco SA regarding readiness assessment of two Single Pills
• Co-Promotion Agreement with AstraZeneca with increased coverage of German HCPs

Further expansion of our Single Pill portfolio

APONTIS PHARMA started successfully in year 2022

Streamlining and divesture of gynecology business

• Heritage gynecology products sold in March
• Gynecology business with significant decline attributable to competition and stop of promotional activities
• Cost of goods increase related to very small volume of products
• Risk-benefit profile of contraceptives inherently critical and associated with high internal administration efforts (regulatory and drug safety) and destruction of goods

Streamlining Established Brand Portfolio to focus on Single Pill strategy

APONTIS PHARMA started successfully in year 2022

Business Execution

• Full publications of START-study in peer-reviewed journals
• Expansion of promotional activities to rehabilitation hospitals
• 2.839 physicians trained in Q1 on START study Single Pill treatment
• Onboarded eight sales reps in Q1 to support increased activities for Single Pills and extended cooperation with AstraZeneca

START study is the enabler for our Single Pill execution on doctors' level

APONTIS PHARMA: Dynamic continuation of growth course

Key performance indicators Q1 2022

(in EUR million)

• Others +84 % (influenced by the selling of the Gyn products)
• Gross Profit

Gross Profit-Margin

• Decline in gross profit margin impacted by Ulunar (Novartis); contract changed from Co-marketing to distribution model

EBITDA

• 2.4 EBITDA • Strong revenue development more than compensates for IPO costs
• Income from divestment of Gyn products in the amount of approx. EUR 0.6 million

Net result

• Driven by higher revenues

Note: Rounding differences may occur. Source: Company data

Momentum for Single Pills continues

• Growth in Single Pills driven in particular by Atorimib and Tonotec
• 4 out of 7 single pills with high double-digit growth
• wholesaler stockpiling in December 2021 (500k)

• Caramlo below prior year due to tender and high • Growth in co-marketing/co-promotion with start of Trixeo contract with AstraZeneca from Q2 2021 onwards • Ulunar sales stable • Jalra/Icandra at prior year level due to supply

• constraints at Novartis

• Others benefit from
• Normal cough season after COVID restrictions in Q1 2021
• Sale of complete inventories with divestment of three gynecology products

Note: Rounding differences may occur. Source: Company data

Solid Financial Position: Well-Funded for Planned Activities

Solid Financial Position: Well-Funded for Planned Activities
Balance Sheet	31.03.2022	31.12.2021	Difference
	EUR	EUR
	55 622 224	54 132 324	1 489 900
Fixed Assets	15 804 681	15 494 004	310 678
Inventory	3 956 525	4 597 587	- 641 062
Receivables and other assets	3 109 862	3 581 475	- 471 613	supply
Cash	32 202 025	29 840 230	2 361 795
Prepaid Expenses	549 131	443 028	106 103
Deferred Tax Assets	0	176 000	- 176 000	cash further
	55 622 224	54 132 324	1 489 900
Equity	41 659 218	40 713 004	946 214
Difference from Capital consolidation	700 359	700 359
Accruals	8 591 504	8 992 763	- 401 258
Liabilities	4 671 143	3 726 199	944 945
Accounts payables	3 187 358	3 002 344	185 014
Other liabilities	1 483 786	723 854	759 931

• Increase in fixed assets driven by further development milestone payments
• Lower inventory mainly caused by month-on-month fluctuation of supply
• Receivables higher at year-end based on decision not to increase cash further
• Equity increased due to profit although of repurchase of own shares. Equity ratio at 74.9%
• Accruals impacted by pay-out of employee bonuses and higher tax accruals
• Liabilities increased due to higher VAT liabilities

Strong cash generation in Q1 2022 based on sales development and lower working capital

			Strong cash generation in Q1 2022 based on sales development and lower working capital
	March YTD 2022	March YTD 2021
	EUR	EUR
Income of the period	1 574 301	304.330
Depreciation & Amortization	407 435	382.030
Change accruals	- 677 140	-849.466
Other non-cash income/expense	176 000	17.406
Change inventory and receivables	1 006 573	-1.645.965
Change liabilities	944 945	203.884	2022 reduction caused by month
Income/Loss from sale of assets		0
Interest expense/income	- 75	207.568
Income from shareholdings		0
Income tax expense	275 882	0	cash further
Extraordinary income		0
Income tax payments		-126
Cashflow from ordinary activities	3.707.920	-1.380.340
	-718.037	-2.061
Cash Flow from investing activities
Cash Flow from financing activities	-628.087	-45
Cash beginning of period	29.840.230	8.058.801

• Higher sales in Q1 compared to previous period main driver of profitability
• Q1 2021 inventory build up necessary to cover the high demand for mainly Atorimib. Q1 2022 reduction caused by monthto month fluctuation of supply
• Receivables higher at year-end based on decision not to increase cash further
• Tax payments done based on German minimum taxation rules in case of tax loss carry forwards

Short-term Pipeline: Accelerating the Development of Single Pills

		Short-term Pipeline: Accelerating the Development of Single Pills
1 Field of application	AmloAtor	RosuASS	Tonotec Lipid	Rosazimib (AP – D 01)	Caramlo HCT (AP – T 01)	Caramlo Lipid (AP – T 02)
Planned market launch	May 2022	June 2022	May 2022	Q1 2023	Q3 2023	Q4 2023
Update May 2022				Q2 2023
Status	 Marketing Authorisation transferred  Launch June 2022	 Marketing Authorisation transferred  Launch June 2022	 Marketing Authorisation transferred  Launch May 2022	 Application for Marketing Authorisation ongoing	 Application for Marketing Authorisation ongoing	 Development ongoing
Competitive environment	 No other Single Pill provider with this combination	 No other Single Pill provider with this combination	 No other Single Pill provider with this combination	 Other Single Pill provider with this combination	 No other Single Pill provider with this combination	 No other Single Pill provider with this combination
Narrow patient potential²	510k	100k	230k	60k	180k	140k
Total development cost	EURm 0.3 (exclusive licensing agreement)	EURm 0.4 (semi-exclusive licensing agreement)	EURm 1.9	EURm 0.0 (exclusive licensing agreement)	EURm 1.3	EURm 2.5

Notes: (1) Main application essential hypertension; (2) Patient potential: Number of patients with same substance class combination in loose form Source: Patient INSIGHTS Analytics (PIA). A web-based pharma tool from INSIGHT Health GmbH & Co. KG; Company information

Licensed-in own development

15

Mid-term Development Pipeline: Continuous Market Opportunities Development Candidates

	Mid-term Development Pipeline: Continuous Market Opportunities
Development	Candidates
Product	Patient potential (narrow – Germany) (in k, substance level)	Project status	Revenue potential (Germany) (in EURm, peak sales)
AP – T 03	360	in development	8.0–10.0
AP – T 04	100	to be discussed	3.5–4.5
AP – T 05	50	to be discussed	2.5–3.5
AP – T 06	15	to be discussed	1.5–2.5
AP – T 07	35	in negotiation	2.5–3-5
AP – D 05	780	in development	8.0–10.0
AP – D 06	740	in development	7.5–9.5
AP – D 07	610	in negotiation	6.0–8.0
AP – D 08	200	in negotiation	6.0–8.0
AP – D 09	160	to be discussed	2.0–3.0
AP – D 10	510	in negotiation	6.0–8.0
AP – T 08	165	in negotiation	5.0–6.0
	165	in negotiation	4.5–5.5
AP – T 09
AP – D 11	640	in negotiation	8.0–10.0

Mid-term Development Pipeline: Continuous Market Opportunities (Exclusive) Licensing-in Agreements

Product	Patient potential (narrow – Germany)	Project status	Revenue potential (Germany)
	(in k, substance level)		(in EURm, peak sales)
AP – D 02	50	in negotiation	1.0
AP – D 03	500	in close negotiation	8.0–10.0
	100	in negotiation	2.0–3.0
D 04
T 08	90	in negotiation	7.5–8.5
D 12	1,100	in negotiation	5.0–6.0
D 13	100	to be discussed	1.0
D 14	65	in negotiation	4.0–5.0
T 10	40	in negotiation	4.0–5.0
AP – AP – AP – AP – AP – AP – AP – D 15	90	in negotiation	4.0–5.0

Source: Patient INSIGHTS Analytics (PIA). A web-based pharma tool from INSIGHT Health GmbH & Co. KG; Company information Note: AP = APONTIS PHARMA| / D = Double combination / T = Triple combination 17

APONTIS PHARMA Outlook

Forecast 2022: Revenue growth to EUR 55.3 million and EBITDA of EUR 5.5 million confirmed

€ Medium-term target of EUR 100 million in revenues and 30% EBITDA margin by 2026 re-affirmed

Portfolio target of more than 20 Single Pills in 2026

FY22 Forecast confirmed

Source: Company information, audited financials

APONTIS PHARMA on the Capital Market

Share price development (IPO to date)

Share price information (IPO to date)

	Share price information (IPO to date)
Issue price		EUR 19.00
Low	23 March 2022	EUR 10.80
High	28 September 2021	EUR 27.80
Close	06 May 2022	EUR 14.85
Performance		-21.8%

APONTIS PHARMA Single Pill Portfolio Model in German Market – Moving Forward (Indicative)

Source: Company information