Apontis Pharma AG

Investor Presentation • Nov 10, 2022

APONTIS PHARMA

November 2022

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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 with successful first nine months 2022

APONTIS: A Specialty Pharma Company with Strong Single Pill Focus

• Headquarter: Monheim (GER) Single Pill leader and a first mover in the German cardiovascular diseases market (CVD) with 10 Single Pills in the portfolio
• Strong evidence of treatment concept based on several studies

Strong pipeline development since IPO

• 3 new Single Pills submitted
• 4 new developments started
• 5 licence agreements

• 20 Single Pills in 2026

• Additional business activities

9M/22

• Co-Marketing,
• Co-Promotion,

• Fee for Call

• 190 employees

• • Thereof 130 Sales reps

• Unique salesforce approach beyond Single Pills

• Lean business model (no production or storage)

• All functions of pharma business (R&D, regulatory, quality, medical, market access, sales and beyond)
• EURm 43.1 revenues (+17%)
• EURm 4.9 EBITDA
• Single Pill revenues EURm 27.3 (+26%)

APONTIS PHARMA VISION

Establish Single Pill as gold standard For a better life. Together. Every day.

APONTIS PHARMA MISSION

We are passionate about maximizing the potential of active ingredients through therapy simplification and substitution with Single Pill.

Source: START Study, IPAM / INGRESS Institute; Company information * Available Single Pill dosages

Single Pill Treatment Concept with strong Evidence Base

	(retrospective study)	(prospective study)
START 1	START 2	SECURE
Comparison of Single Pill	Comparison of Single Pill treatment concept vs.	Comparison of Single Pill Iltria® (Ramipril/ Atorvastatin/ASA)
vs.	loose combination	vs.
respective loose combination	Additional Data from START Data Base to support Single Concept	usual care

Improved adherence with Single Pill led to significant better clinical outcomes for patients and savings for Healthcare system

Superiority of Single Pills SECURE Study to Secondary Cardiovascular Prevention

• 24% improvement in combined primary outcome • Differences evident at an early stage1) • Differences increase over course of
• cardiovascular-related death
• nonfatal myocardial infarction
• nonfatal stroke
• emergency coronary revascularization
• treatment2)

Superiority of Single Pills SECURE Study to Secondary Cardiovascular Prevention

• 30% improvement in secondary combined outcome • 33% reduction in cardiovascular deaths • Differences evident at an early stage1) • Differences increase over course of
• cardiovascular-related death
• nonfatal myocardial infarction

• nonfatal stroke

• treatment2)

APONTIS PHARMA's Vision:

Single Pills to become the First Choice to solve Long-term Treatment Challenges

APONTIS PHARMA Sales Development driven by High Margin Single Pill Business

Single Pill accelerating in the medium-term following market launches

Note: Rounding differences may occur. Source: Company information

Strong Pipeline and Patients Potential drive growth Expectations

Single Pill-concept is a Scalable Business Model

• Growing share of physicians becoming familiar with Single Pills driven by strong clinical evidence and high patient acceptance
• Need for educational effort will diminish over time as evidence can be transferred to new Single Pills
• Pharmaceutical ingredients well-known and widely-used in daily practice
• Patients already on respective loose combinations only need to substituted with respective Single Pills by physicians
• Substitution of loose combinations by Single Pills to be a standard process in daily practice supported by digital activities to identify the appropriate patients
• Current target group fits all expected Single Pill launches with no need for additional sales force

Marketing and sales costs as a share of net sales are expected to go down from >40% in 2021 to <25% in medium-term

Note: Rounding differences may occur. Source: Company information

APONTIS PHARMA: The Single Pill Strategy – Repeating Success

APONTIS expertise and market access meets demand for Single Pill development of commonly prescribed drugs available only as loose combinations

Source: Company information

AstraZeneca Fee for Call cooperation (Trixeo) until end of 2023 Cooperation activities are synergistic to the promotion of Single Pills due to shared target groups

Update on Co-Marketing/Fee for Call activities

Novartis Co-Marketing (Jalra/Icandra) contract ended Sep. 30th 2022

Partnerships:

Single Pill and Cooperation synergistically deepens sales relationships and supports salesforce leverage

Source: Company information

Short-term Pipeline: Accelerating the Development of Single Pills, 2023 (n = 3)

Short-term Pipeline: Accelerating the Development of Single Pills, 2023 (n = 3)
1 Field of application	D 12* AP –	D 13* AP –	Rosazimib (AP – D 01)
Planned market launch Update August 2022	May 2023	May 2023	June 2023
Status	 Dossier submitted	 Already approved	 Dossier submitted
Competitive environment	 2 other Single Pill provider with this combination	 One other Single Pill provider with this combination	 other Single Pill provider with this combination already on market
Min. patient potential²	892 k	107 k	60 k
Total development cost	EURm 1.0 (Semi-Exclusive license agreement)	EUR 250,000	EURm 0.0 (Exclusive license agreement)

(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

Short-term Pipeline: Accelerating the Development of Single Pills, 2024 (n = 4)

Short-term Pipeline: Accelerating the Development of Single Pills, 2024 (n = 4)
1 Field of application	Caramlo HCT (AP – T 01)	AP - D 04	AP - D 02	Caramlo Lipid (AP – T 02)
Planned market launch Update August 2022	Q1 2024	Q3 2024	Q4 2024	Q4 2024
Status	 Dossier submitted in March 2022	 Dossier development ongoing	 Dossier development ongoing	 Dossier submitted in September 2022
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	 No other Single Pill provider with this combination
Min. patient potential²	180 k	12 k	7 k	140 k
Total	EURm 1.3	none	none	EURm 2.5
development cost

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

Mid-term Development Pipeline: Continuous Market Opportunities

		Mid-term Development Pipeline: Continuous Market Opportunities
Development	candidates (n = 15)	(Exclusive) In-Licensing agreements (n = 17)
	32 projects	in progress Product Projekt status	Patient potential (narrow-Germany) (substance level)	Revenue potential (narrow-Germany) (in EURm, peak sales)
		AP - D 01 (Rosazimib) MAA submitted	70	2,5
		AP - D 02 in negotiation AP - D 03 in advanced negotiation	10 65	1,0 8,0-10,0
	• 2	in registration AP - D 04 in negotiation	10	2,0-3,0
		AP - D 08 in negotiation	40	6,0-8,0
	• 4	AP - D 11 in negotiation under own development AP - D 12 in negotiation	590 880	8,0-10,0 7,7
		AP - D 13 in negotiation	95	1,7
		AP - D 14 in negotiation AP - D 15 to be discussed	60 90	4,0 4,0-5,0
	• 3	In-Licensing agreements AP - D 16 to be discussed	100	0,8 -1,6
		AP - D 17 to be discussed	120	2,5-3,5
	• 8	in negotiation AP - D 18 in negotiation AP - T 07 in negotiation	70 95	2,0-3,0 2,5-3,5
		AP - T 08 in negotiation	95	7,5-8,5
	• 15	in discussion AP - T 10 in negotiation	30	2,4

APONTIS PHARMA: Dynamic continuation of growth course

Key performance indicators 9M 2022

(in EUR million)

• (influenced by the divestment of the Gyn products)

Gross Profit

• Decline in gross profit margin impacted by Ulunar (Novartis): contract changed from Co-marketing to distribution model (EURm 1.8). Changed treatment of post-milestone payments in 2022 (impact EURm 0.5).

4.9 EBITDA/Net Result

• EBITDA • Higher sales in 9M compared to previous period and IPO costs of EURm 3.5 last year main driver of profitability increase.
• 3.6 • Gross profit impact related to changed Co-Marketing contract
  • Income from divestment of Gyn products in the amount of approx. EUR 0.6 Mio.
  • Repayment of shareholder loan in 2021: EUR 0.4 Mio lower interest expense.

Note: Rounding differences may occur. Source: Company data

Momentum for Single Pills continues

Note: Rounding differences may occur. Source: Company data

• Growth in Single Pills driven in particular by Atorimib, Tonotec, Tonotec HCT and LosAmlo
• 5 out of 7 single pills with high double-digit growth
• Three new Single Pills launched
• Caramlo below prior year due to tender and high wholesaler stockpiling in December 2021 (EURk 500) • Growth in Cooperation driven by fee for call of
• AstraZeneca's product Trixeo
• Trixeo fee for call grew with a rate of 91%. Ulunar sales declined with 6% lower than expected • Jalra/Icandra 4% higher than prior year. Comarketing contract with Novartis stopped end of September 2022 restrictions. Better MagnoSanol sales. • Gynaecology business divested in March 2022.
• Others
• Normal cough season after end of COVID-

Solid Financial Position: Well-Funded for Planned Activities

Solid Financial Position: Well-Funded for Planned Activities
	Sep 22	Dec 21
€ thousand	YTD ACT	Full Year PY	∆	Growth
Total equity and capitalization difference	42 794	41 413	1 381	3%	• Total working capital negative.
A. Total working capital	- 3 066	- 1 290	- 1 776	138%	• Inventories lower due to slower
I. Trade net working capital	4 566	5 177	- 610	-12%	supply in the last months.
1. Inventories	3 643	4 598	- 954	-21%
2. Receivables and other assets	4 364	3 581	783	22%	• Receivables higher in September compared to last year due to
3. Accounts payables	- 3 441	- 3 002	- 439	15%	higher sales in direct monthly
II. Prepaid expenses	537	443	94	21%	comparison.
III. Other liabilities	- 758	- 724	- 34	5%
IV. Other accruals	- 7 411	- 6 186	- 1 225	20%
					further milestone payments for development projects.
B. Long-term assets	16 041	14 886	1 154	8%
I. Intangible fixed assets	15 778	14 691	1 086	7%
II. Tangible fixed assets	49	19	30	161%	and lower working capital.
III. Deferred tax assets	214	176	38	22%	• Equity increased due to profit.
C. Net cash	29 820	27 817	2 002	7%	Purchase of own shares
I. Pension accruals	- 2 502	- 2 423	- 79	3%
II. Financial assets III. Tax accruals	774 - 729	784 - 384	- 10 - 345	-1% 90%

• Total working capital negative.
• Inventories lower due to slower supply in the last months.
• Receivables higher in September compared to last year due to higher sales in direct monthly comparison. (EURm 1.8); equity ratio at 73.1%.
• Increase in fixed assets driven by further milestone payments for development projects.
• Increase net cash driven by profit and lower working capital.
• Equity increased due to profit. Purchase of own shares

Strong cash generation in H1 2022 based on sales development and lower working capital

Strong cash generation in H1 2022 based on sales development and lower working capital
	Sep 22	Dec 21
€ thousand	ACT	PY	∆	Growth
Cash BoP	29 840	8 059	21 781	270%	• Higher sales in H1 compared to previous period and IPO costs last
Operating flow	6 678	2 640	4 038	153%	year main driver of profitability
Net profit	3 268	- 1 161	4 429	282%	increase.
Depreciation & amortization	1 326	1 136	190	17%	• Working Capital impacted by
Accruals	1 278	- 77	1 355	1657%	higher accounts payable, mainly suppliers of inventory.
		- 2 305	2 383	3%
Inventories & receivables	78
Payables	473	562	- 88	-16%	• Investing cash flow for milestone
Taxes	345	267	78	29%	payments.
Interests		382	- 383	-100%	• Financing cash flow represents
Other	- 90	3 837	- 3 926	-102%	the buy-back of shares.
Investing flow	- 2 407	- 648	- 1 758	271%
Financing flow	- 1 836	20 119	- 21 955	-109%
Cash EoP	32 276	30 170	2 106	7%

• Higher sales in H1 compared to previous period and IPO costs last year main driver of profitability increase.
• Working Capital impacted by higher accounts payable, mainly suppliers of inventory.
• Investing cash flow for milestone payments.
• Financing cash flow represents the buy-back of shares.

FY22 Forecast confirmed

Source: Company information, audited financials