Slide 1: Nicox Corporate Presentation
Nicox Corporate Presentation An international ophthalmology company developing innovative solUtions to help maintain vision and improve ocular health August 5, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This document has been prepared by Nicox SA and may not be reproduced or distributed, in whole or in part. The information contained in this document has not been independently verified and no representation, warranty or undertaking, expressed or implied, is made as to, an
Slide 3: Nicox at a glance
Nicox at a glance Late-stage Phase 3 program in glaucoma — NDA? filing targeted for 2026 4 Commercial- stage assets and R&D collaborations already in place Global reach with top tier worldwide licensees ® Significant market opportunity - 80 million glaucoma patients worldwide? ooo Avi) nicox
Slide 4: Partnerships with Kowa and Ocumension by territory
Japan – United States – partnership with partnership Kowa – Phase 3 with Kowa – trials to begin H2 NDA filing 2025 expected in H1 2026 China, Korea and Southeast Asia – partnership with Ocumension – NDA to be filed based on U.S. package Rest of World – partnership with Kowa
Slide 5: Consistently Delivering Innovations in Ophthalmology
Consistently Delivering Innovations in Ophthalmology ... Vv Vv Vv Vv Development A potentially differentiated profile targeting ~$7bn worldwide glaucoma market, 80 million patients Positive results from the first Phase 3 trial’, Mont Blanc, demonstrating competitive Intraocular Pressure (IOP) Loweri
Slide 6: Upcoming Milestones
Upcoming Milestones NCX 470 * Denali results — Q3 2025 « U.S. NDA submission expected in H1 2026 ZERVIATE “ Recurrent revenue in U.S. and China Corporate * Potential NCX 1728 license option exercise with Glaukos “ Exploring future growth opportunities nicox ©) visble scence
Slide 7: Revenue sold to Soleus Capital; first commercial sale in China
Revenue Sold to Soleus Capital in October 2024 First Commercial Sale in China in Q4 2024
Slide 8: Glaucoma: a Worldwide Ophthalmic Condition with Unmet Medical Needs
Glaucoma: a Worldwide Ophthalmic Condition with Unmet Medical Needs Elevated IOP* Contributes to Irreversible Optic Nerve Damage, Leading to Progressive Vision Loss damage to the optic nerve head reduced aqueous humor outflow normal aqueous humor outflow anterior vitreous optic nerve head ff *3 cham
Slide 9: Unmet Medical Needs for Glaucoma Treatment
Unmet Medical Needs for Glaucoma Treatment V 40% of patients Despite having well established do not achieve first-line therapies, including the their target IOP standard-of-care, latanoprost, on existing patients do not react to monotherapies' glaucoma medications in the requiring ophthalmologists t
Slide 10: Value Proposition of NCX 470
Value Proposition of Vv Novel molecule with positive impact on NCX 470 WT lowering IOP, the Leading cause of glaucoma Vv Positive pivotal Phase 3 topline results from the Mont Blanc trial:23 Vv First non-combination product to demonstrate statistical non-inferiority to a prostaglandin analog in a pi
Slide 11: NCX 470 Timing
NCX 470 Timing A Near-Term Asset Close to Completion of Development Q3 2025 Hil 2026 H1 2027 Topline Results of Submission of New Approval and Denali Phase 3 Drug Application Launch in the Clinical Trial in the United United States States * Composition of matter patent to 2029 expected to be extende
Slide 12: NCX 470 Lowers IOP Through a Validated Dual Mechanism Pathway
1 NCX 470 Lowers IOP Through a Validated’ Dual Mechanism Pathway Clinically Validated with the First NO-Donating PGA, VYZULTA® Two Pathways for Aqueous Humor Outflow Primary or conventional outflow normally accounts for ~60% to 80% of outflow vitreous chamber anterior lens—* | °F chamber posterior c
Slide 13: Positive NCX 470 Mont Blanc Topline Results
Positive NCX 470 Mont Blanc Topline Results'.23 Phase 3 Clinical Program Intended to Support U.S. & China NDA Submissions Designed to demonstrate safety and efficacy of NCX 470 0.1% vs. Latanoprost 0.005%, studies will evaluate reduction of IOP from time-matched baseline at pre-established time poin
Slide 14: Mont Blanc dosage arms schematic
1. This schematic reflects the dosage arms which continued in the trial and do not include the NCX 470 0.065% dose which was only in the adaptive design portion of the trial
Slide 15: NCX 470 0.1% vs Latanoprost 0.005% IOP results
NCX 470 0.1%: N = 328 Latanoprost 0.005%: N = 333 • Denotes statistically significant differences vs latanoprost (p<0.049) • Fechtner et al., AJO, 2024 Aug;264:66-74
Slide 16: NCX 470 Was Well Tolerated
• • • NCX 470 Was Well • • • 1. This data reflects the dosage arms which continued in the trial and do not include the NCX 470 0.065% dose which was only in the adaptive design portion of the trial. 2. Fechtner et al, American Journal of Ophthalmology, 2024, 264:66-74
Slide 17: 1. This data reflects the dosage arms which continued in the trial and do
• ≤ • • ≤ • • 1. This data reflects the dosage arms which continued in the trial and do not include the NCX 470 0.065% dose which was only in the adaptive design portion of the trial.
Slide 18: Authors' Conclusion
Authors’ Conclusion: The NO-donating prostaglandin analogue NCX 470 0.1% was well-tolerated and lowered IOP more than latanoprost in subjects with OAG or OHT at all 6 time points. With a dual mechanism of action that enhances both uveoscleral and trabecular outflow, NCX 470 could become an important
Slide 19: NCX 470 Presentations at Key Ophthalmology Conferences
NCX 470 - Presentations at Key Ophthalmology Conferences i SOCIETY + Poster: Diurnal IOP Control Responder Analysis with NCX 470 Versus Latanoprost in the Phase 3 MONT BLANC Trial SOCIETY Poster 2: Intraocular Pressure Reduction with NCX 470 versus Latanoprost In Previously Treated Versus Treatment-
Slide 20: Potential retinal benefits
NO elicits NO inhibits NO & PGA vasorelaxation & inflammatory lower IOP improves ocular cytokines & blood flow oxidative stress Potential retinal benefits
Slide 21: Improved ocular perfusion and retinal function vs. Lumigan
Improved ocular perfusion and retinal function in damaged eyes vs. Lumigan® Ocular hemodynamics Retinal function (Echo-doppler - Ophthalmic artery) (Scotopic Electroretinogram - rod/cone responses) O p h th a lm ic A r te r y R e s is tiv e In d e x E T - 1 + V e h ic le , n = 7 E T - 1 + V e h ic l
Slide 22: U.S. Glaucoma Clinical Advisory Board with Leading Experts
a Cc a U.S. Glaucoma Clinical Advisory Board with Leading Experts DR. ROBERT D. FECHTNER, MD, CHAIRMAN Professor and Chair of the Department of Ophthalmology at SUNY Upstate Medical University, Syracuse, NY DR. SANJAY G. ASRANI, MD Professor of Ophthalmology at Duke University in Durham, North Carol
Slide 23: Kowa: Founded in Japan in 1894, Active Worldwide
Founded in Japan in 1894 ~8000 Employees The Pharmaceutical Team of Medical Active Worldwide with an Annual Sector is an Representatives in Multiple Group Revenue of Important One with in Japan and a Domains Including $4.9 Billion an International Franchise in Life Sciences Presence Glaucoma • •
Slide 24: Two value-creating deals with Kowa on NCX 470
Two value-creating deals with Kowa on NCX 470 Territory Milestones Royalties Japan 7% to 12% ) Cc £ & & Kal Z > x fo} Y z United States and all territories outside China, Korea, Southeast Asia and Japan Tiered up to 209 nicox ©)
Slide 25: Ocumension: Based in China, Created in 2018
Listed on the Portfolio of 25 Based in China Hong Kong Stock Products with 489 Employees, Created in 2018 Exchange Since 12 Commercialised Including over 250 Dedicated to 2020 $58 Million in Commercial Ophthalmology $900 million Revenue in 2024 Market Cap (+69%) • • •
Slide 26: VYZULTA and ZERVIATE
VYZULTA ✔ ✔ ✔ ✔ ZERVIATE1 ✔ ✔ ✔ ZERVIATE2 ✔
Slide 27: Mechanism of action abbreviations
• • • • MOA = Mechanism of Action GTP = guanosine triphosphate sGC = soluble guanylate cyclase cGMP = cyclic guanosine monophosphate, PKG – protein kinase G ER = endoplasmic reticulum Ca++ = Calcium
Slide 28: Experienced Leadership Team
Experienced Leadership Team Gavin Spencer Sandrine Gestin Doug Hubatsch Emmet Purtill Chief Executive Officer VP, Finance and HR EVP, Chief Scientific Officer VP Business Development ob NOVARTIS tb NovarTIs C+) COVANCE. > INTERNATIONAL Sonia Benhamida Observer Damian Marron Christine Placet Marc Le
Slide 29: Financial Highlights
Financial Highlights Cash Balance Expected to Support Current Operations for at Least 12 months from July 2025 Financial Position and Ownership of Nicox SA' Cash, Cash Equivalents as at 30 June 2025 €5.9 million (excluding Kowa deal) 5 Debt as at 30 June 2025 €14.8 million (excluding repayment from
Slide 30: Investment Highlights
Investment Highlights v_A Proven Track Record in Clinical Development and Business Development * Two product approvals in the U.S., one in China * Business Development deals in the U.S., Japan, China, and globally with Tier 1 companies * Global partnerships in place for NCX 470 v NCX 470, a Derisked
Slide 31: Nicox S.A.
31 Nicox S.A. Sundesk Sophia Antipolis Emerald Square Batiment C rue Evariste Galois, 06410 Biot, France T: +33 (0)4 97 24 53 OO nicox visible science communications@)nicox.com WWW.nicOx.com, (@