Slide 1: AIM Stockholder Full Value (ASFV) Committee Investor Presentation
AIM Stockholder Full Value (ASFV) Committee Investor Presentation October 2022 The ASFV is Committed to Improve Company Performance, Reduce Excessive Executive Compensation and Establish Sound Corporate Governance – Leading to an Increase in Stockholder Value Your Vote is Important, No Matter How Fe
Slide 2: Safe Harbor: Important Information and Participants in the Solicitation
Safe Harbor Important Information and Participants in the Solicitation The ASFV Committee has filed a definitive proxy statement and associated GOLD proxy card with the Securities and Exchange Commission (“SEC”) to be used to solicit votes for the election of its slate of highly-qualified director n
Slide 3: ASFV Committee's Reasons for Solicitation
ASFV Committee’s Reasons for Solicitation • February 25, 2016, Mr. Equels assumed the role of Chief Executive Officer, AIM’s stock closed at $87.15 per share on the NYSE Market. • After reducing the board’s size from 5 directors to 3 directors, the current Board (Equels, Mitchell, Applerouth) took e
Slide 4: Urgent Change is Needed at AIM
Urgent Change is Needed at AIM • AIM ImmunoTech Inc. is an immuno-pharma company focusing on the research and development of therapeutics to treat multiple types of cancers, viral diseases, and immune-deficiency disorders. • The entrenched AIM Board consists of 3 directors that have been with AIM th
Slide 5: AIM's Abysmal Stock Price Performance
AIM’s Abysmal Stock Price Performance AIM’s stock price has plummeted over 99% since the incumbent directors took complete control 6 years ago despite multiple reverse splits (1:12 on August 29, 2016, and 1:44 on June 11, 2019) to boost its price and avoid delisting. Since CEO and Incumbent Board To
Slide 6: AIM's Board has Destroyed the Value of its Stock
AIM’s Board has Destroyed the Value of its Stock AIM Stock price has dropped over 99%, while broader and biotechnology markets have appreciated. AIM Total Shareholder Return One-Year Three-Year Five-Year Through Through Through Unaffected Extended Unaffected Extended Unaffected Extended Date Through
Slide 7: AIM's Abysmal Company Operating Performance
AIM’s Abysmal Company Operating Performance AIM’s History of Losses Reflects Board’s Failure to Execute • Cumulative net losses have totaled $77.1 million from 2016 through June 30, 2022 and have been accelerating. AIM IMMUNOTECH INC. • Concurrently, G&A expense, which includes salaries, has far out
Slide 8: AIM's Board has Destroyed the Company's Value
AIM’s Board has Destroyed the Company’s Value • AIM approved two reverse splits in less than 3-years (1:12 and then 1:44) wiping out stockholders and then issued and sold massive amounts of stock, both of which have been extremely dilutive to existing stockholders. • Since the end of 2018, when ther
Slide 9: CEO Takes Outrageous Compensation as Losses Mount
CEO Takes Outrageous Compensation as Losses Mount Executive Compensation is Not Aligned with Performance • In the face of the disastrous decline in AIM’s stock price, dreadful financial performance and $77.1 million in cumulative net losses, the CEO has taken extreme compensation. • CEO Equels repor
Slide 10: Board Pays Themselves Excessively with No Oversight
Board Pays Themselves Excessively with No Oversight • During the massive decline in AIM’s stock price, the Board has AIM’s Board of Directors is “Getting Rich Off” the Backs of Stockholders taken extreme compensation. • in addition to CEO Equels compensation of $4.42 million over the last two years,
Slide 11: Board's Governance Failures
Board’s Governance Failures • On February 17, 2016, AIM announced that its 5-member Board had terminated its Chief Executive Officer and removed him from the Board, and that Mr. Equels would be the Company’s new Chief Executive Officer, and that Mr. Mitchell would serve as the Company’s new Chairman
Slide 12: Complete Lack of Governance Under Incumbent Board
Complete Lack of Governance Under Incumbent Board • The 3-member Board is entrenched, not self-governing, has no independent oversight and does not have enough members to maintain proper governance practices beneficial to shareholders. • This questionable structure has resulted in an absence of over
Slide 13: Board's Destruction of Shareholder Value
Board’s Destruction of Shareholder Value • AIM has suffered cumulative net losses totaling $77.1 million from 2016 through June 30, 2022 based on financial statements included in its SEC reports, which has led to the destruction of over 99% of shareholder value over the 3 entrenched Board members’ t
Slide 14: Entrenched Board Attempts to Deny ASFV Nomination
Entrenched Board Attempts to Deny ASFV Nomination • July 8, 2022, Jorgl (ASFV Committee) Notice to nominate two highly-qualified candidates, Mr. Chioini and Mr. Rice, to run on the AIM proxy is received by AIM Board of Directors. • July 8, 2022, within hours of receiving Jorgl Notice, incumbent AIM
Slide 15: Board's Reckless Spending Hurts Investors & Patients
Board’s Reckless Spending Hurts Investors & Patients • The entrenched AIM Board is recklessly spending funds and wasting an outrageous amount of shareholder money – $2,500,000.00 – to attempt to prevent and frustrate the shareholder franchise. o “Excluding amounts normally expended by our Company fo
Slide 16: ASFV's Plan to Enhance Shareholder Value: Strategy
ASFV’s Plan to Enhance Shareholder Value Strategy • Improving corporate governance, including expanding the Board with at least two additional highly qualified members as soon as possible. • Initiating and completing FDA clinical studies with AIM’s lead product candidate Ampligen® (Rintatolimod) for
Slide 17: ASFV's Plan: Finance and Executive Compensation
ASFV’s Plan to Enhance Shareholder Value Finance and Executive Compensation • Hire a full-time, experienced Chief Financial Officer to manage the Company’s financial resources. • Focus on cost containment, particularly on what appear to be excessive general and administrative expenses that have cons
Slide 18: ASFV's Plan: Corporate Governance
ASFV’s Plan to Enhance Shareholder Value Corporate Governance • As directors of AIM, with relevant experience, Mr. Chioini and Mr. Rice will seek to expand the board size by adding at least two additional independent directors. • The expanded board will be able to provide greatly increased and indep
Slide 19: Entrenched AIM Directors Lack Relevant Experience
Entrenched AIM Directors Lack Relevant Experience • Mr. Equels is a lawyer by training. Prior to AIM he never worked in the healthcare, medical, or pharmaceutical industries. He also had no experience running clinical trials or sitting on the board of a publicly traded company, and prior to assuming
Slide 20: ASFV's Nominees are the Right Choice: Robert Chioini
ASFV’s Nominees are the Right Choice • Robert L. Chioini is the Managing Member of Bright Rock Holdings, LLC, a consultancy business that helps pharmaceutical drug and medical device companies successfully grow their businesses by providing financing, public listing, management, operations, licensin
Slide 21: ASFV's Nominees are the Right Choice: Michael Rice
ASFV’s Nominees are the Right Choice • Michael Rice is the Founding Partner of LifeSci Partners (“LifeSci”) since March 2010, which is comprised of several business verticals within the LifeSci platform that collectively provide companies with the resources and experience they need to realize the fu
Slide 22: Conclusion – A Call to Action
Conclusion – A Call to Action As a result of the entrenched Boards’ failings, most notably: o Long history of losses and the incumbent destruction of shareholder value. o Ineffective strategic vision including the failure to progress products through clinical trials. o Continued excessive compensati
Slide 23: Appendix: Key Event Timeline
Appendix Key Event Timeline • June 27, 2022, Mr. Jorgl purchased 1,000 shares of Common Stock on June 27, 2022 and proceeded to work with Mr. Chioini and Mr. Rice to prepare the notice of nominations to be delivered to AIM pursuant to the Bylaws. • July 8, 2022, Mr. Jorgl submitted a complete and co
Slide 24: Appendix
Appendix • On July 21, 2022, the ASFV Committee issued a press release to clear the record that we believe the nominations were valid and demonstrate our belief that the Board’s actions were desperate attempts to stifle basic stockholder rights and to entrench the incumbent directors. • On July 29,
Slide 25: Appendix
Appendix • Unable to agree over the weekend, the Delaware Court of Chancery held another hearing on August 15, 2022 to rule on the pending motion for a temporary restraining order. The court denied the motion for a temporary restraining order, but set a hearing date for Mr. Jorgl’s motion for prelim