Exozymes Inc. · NASDAQ:EXOZ
Exozymes — Investor Presentation (March 2026)
78 slides from Exozymes's investor presentation, Mar 31, 2026
Slide 1: eXoZymes Inc.
eXoZymes Inc. Cell-Free and Al-Enhanced Biomanufacturing Turning rare, unscalable biochemistry into predictable, high-purity natural products The Next Generation of Biomanufacturing NASDAQ: EXOZ
Slide 2: eXoZymes' Safe Harbor
eXoZymes’ Safe Harbor This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which are based on certain assumptions and describe the company’s future plans, strategies and expectations, can general
Slide 3: Our Journey & Milestones
OUR JOURNEY & MILESTONES. From Big Ideas Lab Invention to $200B+ Commercial Opportunity at hand. A disciplined, highly capital-efficient journey from UCLA spinout to NASDAQ-listed leader of next generation biomanufacturing NCT & Cannabinoids at Invizyne/eXezymes IPO on NASDAQ (EXOZ) Baaloaiiismv arl
Slide 4: Flagship Product Programs
FLAGSHIP PRODUCT PROGRAMS Targeting validated master regulators of known biological pathways — the highest-leverage molecules driving pharma interest and nutraceutical demand 4 Y NCT / Metabolic Health Cannabinoid Molecules Master regulator of cellular metabolism Master regulator of cellular signali
Slide 5: Cell-Free Is SynBio's Future
CELL-FREE IS SYNBIO’S FUTURE We Solved the Biomanufacturing Bottleneck Holding Back Entire Industries Synthetic biology promised to replace petrochemicals. But genetically engineering living cells into “chemical factories” did not work and it did not scale. eXoZymes Delivers: Idea to Pilot in <12 mo
Slide 6: The Breakthrough in Biomanufacturing
THE BREAKTHROUGH IN BIOMANIFACTURING Enzymes Run Reactions Inside Cells. Cells are Not Chemical Factories. Why Not Skip the Cell? 060600 e Cells make enzymes, Does the actual work Al-optimized and Scalable, controllable but cells stop if being used of building chemical stabilized to work commercial
Slide 7: Demonstrated Success
DEMONSTRATED SUCCESS Cell-Free Platform Makes Products No One Else Can with Impressive Profit and Purity Profiles & Z fsa - Beyond Synthetic Beyond Beyond Plant Commercially Chemistry Fermentation Extraction Interesting Exozymes leverage nature’s diversity — High yields and fast cycle times means ou
Slide 8: Development Pipeline
DEVELOPMENT PIPELINE From Prototype to Value Creation: In Months, Not Years Prototyping Incubation Acceleration Commercialization 3-9 weeks 3-6 months 6-12 months 6-18 months Lab feasibility Business intel + cost Pilot scaling and demonstrated feasibility validated sampling Spinout or license, first
Slide 9: Proven Results: NCT
PROVEN RESULTS: NCT eXoZymes Makes NCT at Scale Concept to Pilot Scale in < 1 year + Successful Tech Transfer 99% Reaction Yield Industry-leading efficiency at pilot scale 6X Production Cycle Faster than conventional manufacturing approaches ustrial scale for NCTX™
Slide 10: NCT: A New Metabolic Wellness Category
NCT: A NEW METABOLIC WELLNESS CATEGORY NCT Activates the Cell’s Master Metabolic Switch to Address Energy Efficiency N-trans-caffeoyltyramine (NCT): a rare plant-derived compound with emerging relevance in metabolic health, gut integrity, and liver function The Bottleneck We Solved Commercial Paths
Slide 11: Cannabinoid Opportunity
CANNABINOID OPPORTUNITY The Purity & Non-Intoxication Manufacturing Bottlenecks We Overcame Now producing rare and new-to-nature cannabinoids at commercial scale with GMP purity + Cannabinoid receptors are present on nearly every cell in the body + Nature supplies a messy mix of intoxicating and non
Slide 12: Value Creation Discipline
VALUE CREATION DISCIPLINE How We Choose the Right Molecules + We apply rigorous selection criteria before committing to any new molecule * Dual screening: strong R&D viability + high business potential - Balanced against key factors: IP Huge Market Manufacturability Ownership Potential Development d
Slide 13: Go-to-Market Strategy
GO-TO-MARKET STRATEGY From Lab to Market: How We Commercialize Tech Transfer Package eXoZymes delivers a complete, validated biomanufacturing system and protocol — while retaining full platform IP CMO Scale-Up & Production eXoZymes and partners. qualify leading CMOs for capital-light scale-up and ma
Slide 14: Financial Overview
FINANCIAL OVERVIEW Super Capital-Efficient Execution Multi Billion Raised at Nasdaq IPO Annual Operating Total Grant Funding (November 2024) Expenses Basic Research and New Platforms Market Upside The SynBio Promise will soon be commercial at a fraction of the competitors’ costs.
Slide 15: Leadership Team
LEADERSHIP TEAM Experienced Management Michael Heltzen <0 Serial biotech entrepreneur. Leads strategic, company culture & executional excellence. Dr. Tyler Korman ¢s0 & Co-Founder PhD in structural biology. Expert in enzyme catalysis R&D. Co-invented the platform at UCLA. Ps Dr. Paul Opgenorth v? of
Slide 16: Upcoming Catalysts
UPCOMING CATALYSTS YY NcT/NCTx Technology transfer package ry to contract manufacturer for GMP-scale production Commercial partnerships with global nutritional supplement marketers for OTC product launch Partnering with pharmaceutical companies to initiate clinical trials using new-to-nature NCT ana
Slide 17: Capital Raise: Use of Proceeds from the $15M Offering
CAPITAL RAISE @ m: Use of Proceeds —from the $15M Offering Disciplined capital deployment across our two flagship programs and core platform infrastructure. NeTCommercialization oe al ~$5.0M 33% Cannabinolds & next-in ine products <a) ames Core Platform R&D ~$1.0M 7% AL Engineering [Bl 82,80, Legat&
Slide 18: Investment Thesis
INVESTMENT THESIS Why eXoZymes Now Only Cell-Free Platform y $200B+ Combined TAM v7) Validated at Scale $300B+ Patent Cliff i“) Capital-Light Model Months, Not Years eee Sd
Slide 19: Thank you
eXoZymes NASDAQ: EXOZ Thank you. info@exozymes.com + exozymes.com eXoZymes Inc. Next Gen. Biomanufacturing: Cell-Free and Al-enhanced Transforming rare, previously unscalable biochemistry into predictable, high-purity natural products and next-generation drugs.
Slide 20: eXoZymes
exezymes
Slide 21: NCTX: Activating the Body's Master Metabolic Switch
“a NCTX Activating the Body’s Master Metabolic Switc Addressing multiple metabolic disorders through a single pathway April, 2026 exozvines exclusive ights to eXozymes’ breakthrough NeTeelltree blomanufacturing technology
Slide 22: The Big Picture
THE Bio PIoTURE NCTX We’re on A Mission to Upgrade Health Span Enabled by eXoZymes game changing cell-free biomanufacturing platform for breakthrough molecules The Game Changer We can manufacture things that are difficult to make, quickly and affordably Natural products are difficult to eXoZymes cre
Slide 23: The Metabolic Health Crisis
THE METABOLIC HEALTH CRISS NCTX A GLOBAL EPIDEMIC IS EXPLODING Interconnected Chronic Diseases ie) @ Obesity Diabetes Fatty phi ita 1.2 Billion 800+ Million 2.5 Billion grown 2X since 1990 Fast growing chronic disease Projected 2X by 2040 Conventional treatments still rely on people making and susta
Slide 24: Understanding the Root Cause
UNDERSTANDING THE ROOT CAUSE NCTX Targeting the Root Cause of Declining Metabolic Health There is an energy crisis inside every cell We 2 stress Gg —_— Gaa = Mitochondria are the energy Poor diet, chronic stress and sedentary | Reduced cell function and powerhouses of every cell lifestyle disrupt mi
Slide 25: Addressing the Root Cause
ADDRESSING THE ROOT CAUSE N cTX HNF4a — Activating a Mitochondria Master Control Switch Restoring mitochondria is the key to transforming the way metabolic health is managed ie 2 @ The Pathway Role in the Body Our Quest The Prize HN The master Address previously Potentially the biggest metabolic swi
Slide 26: Groundbreaking Discovery
GROUNDBREAKING DISCOVERY NCTX NCT: First Potent Compound to Activate HNF4a Promotes Wellness and addresses multiple interconnected disorders through a single pathway* NCT on % sr “oF | —\~) a é ‘Acts as a setective mS J HNF4a agonist GU Increases mitochondrial Repairs gut barrier mass and performanc
Slide 27: NCT Pre-Clinical Testing
NCT PRE-CLINICAL TESTING NCTX Measurable Metabolic Results Without Diet Restriction Metabolic improvement through fatty acid oxidation DIO Mice on High Fat Diet 30-40% F Body Weight Reduction Less weight gain on identical high-fat diet with equal caloric intake Mitochondrial Surge Significant increa
Slide 28: The NCT Bottleneck
THE NCT BOTTLENECK NCTX NCT is Inaccessible via Conventional Chemistry The promise of NCT has remained locked <15 ppm NCT found in peppercorns Major Challenges to Overcome + NCTis nearly absent in nature with only trace amount available Existing sources of NCT are mixtures of less potent natural ana
Slide 29: The Commercial Breakthrough
THE COMMERCIAL BREAKTHROUGH eXoZymes’ Process Cracks the NCT Scale Barrier Concept to Pilot Scale in < 1 year + Successful Tech Transfer 99% Reaction Yield Industry-leading efficiency at pilot scale 6X Production Cycle Faster than conventional manufacturing approaches 4 F 3 cayman Unlocks consistent
Slide 30: Delivering High Quality Product
DELIVERING HIGH QUALITY PRODUCT NCTX eXoZymes Process Delivers High Quality NCT Improves formulation performance and simplifies the product safety profile >99% Food/Pharma Grade Purity stronger and more predictable results in formulation Reliable, high purity improves the regulatory journey and help
Slide 31: The eXoZymes Process Advantage
THE EXOZYMES PROCESS ADVANTAGE N cTX Super Clean Process Makes Scale-up Easy Avoiding the unwanted by-products Conventional Methods eXoZymes shh. 7 or Example Actual analysis (HPLC) Single product precision analysis (HPLC) 31
Slide 32: The eXoZymes Economic Advantage
THE EXOZYMES ECONOMIC ADVANTAGE NCTX Nature’s Diversity, Scaled Like Chemistry & No Living Systems Faster Production Simple Process Design Time No undesirable by-products More product output per Lower Capital Investment or seasonal variation installed capital Required 32
Slide 33: Market Opportunities
MARKET OPPORTUNITIES NCTX NCTX™ Targets Wellness and Therapeutic Metabolic Solutions Immediate Opportunity Longer Opportunity NUTRACEUTICALS PHARMACEUTICALS $100B+ Market $100B+ Market 33
Slide 34: NCTX Nutraceutical Product Concept
NCTX NUTRACEUTICAL PRODUCT CONCEPT N cTX Pure NCT by NCTX™ Category Innovation: Moving Beyond Stimulants and Appetite Suppressants Metabolic Amplifier Supports Healthy Fat Metabolism Enhances the body's natural capacity to oxidize stored fats for fuel Complementary mechanism with GLP-1s offering met
Slide 35: Commercializing NCT
COMMERCIALIZING NCT NCTX Fast market entry, asset-light growth for NCTX™ Driving NCT revenue growth through diversified channels Product Launch Develop compelling brand narrative and launch quickly to direct-to-consumer segment White Label Ingredient access partnerships with upfront purchase commitm
Slide 36: Five Year Sales Strategy
FIVE YEAR SALES STRATEGY Capital Light Expansion Strategy Expand with CMOs to reach 6 million bottles without upfront CAPEX In 30 Capsule Bottles 2027 2028 Market Launch DTC Growth ——— 2029 Boutique Retail NCTX 2030 Regional Retail Sales: ~200K bottles Sales: ~2 million bottles Price: $45/bottle Gro
Slide 37: Roadmap: Launching NCTX Commercial Vehicle
LOOKING AHEAD NCTX Roadmap: Launching NCTX Commercial Vehicle 2026: eXoZymes NCT Accelerator Validated and Pilot Scale 100x Optimization Integration Design Lock CMO Tech Transfer ° ’ © © © © Process + Composition IP Filed Form,DSP,CFR,PIP. Demonstrate tarot Human Use studios Rogutatory (GRAS) ‘eptim
Slide 38: Path Ahead for Pharma
PATH AHEAD FOR PHARMA NCTX Creating a Pharma Option Aggressively acquiring metabolic innovation, particularly mechanisms that complement GLP-1s Leverage NCT Impact in Nutraceutical Market: HNF4a Ago! _— TT | Advance Clinical Program 2026 Optimized enhanced prop Develop CMC. Targeting indications for
Slide 39: Use of Proceeds
USE OF PROCEEDS Capital Focused on NCT Launch Readiness Seed investment prepares NCT for Market Launch and Completes Initial Pharma Screen 2026 Use of Proceeds Initial Pharma Screen: $500K Supply Chain Quatification: $150k Regulatory: $250K Pre-Commercial Team: $200K Human Use Studies: $400K inside
Slide 40: Thank you
Slide 41: eXoZymes
exezymes
Slide 42: Next Generation Biomanufacturing
Next c Gen a feimanutactilind ae Breaktarugheél:tree technology enablingshighly valuable natural products.
Slide 43: Natural products perfected by AI
Slide 44: eXoZymes
exezymes
Slide 45: Business model overview
Business model overview A Capital-Light Platform-of-Platforms Approach 7 ——N Target identification Revenue & Sore aati technology “a platform External JV pin-out &licensing formation Maximizing financial leverage while maintaining significant upside potential.
Slide 46: Vehicles to Future Value Capture
Vehicles to Future Value Capture Business Commercialization WW A Future Markets Generator Spin Outs Proprietary Technology Strategic Stakes with Board Rights Market Value Stacks with each Spin Out Value is Meesurable YoY sales growth (tition) ia @ NCTX atrial tra resus (pharma) #4 Licensing Revenue
Slide 47: How our technology works
How our technology wo From Al design to i Bioengineering Al-enhanced excellence design The world's most From structure accomplished team in to function. cell-free biomanufacturing In a bioreactor. ~ High-throughput validation Rapid synthesis. Iterative model refinement. industrial scale production C
Slide 48: The project pipeline
The project pipeline Incubator Accelerator Commercialization Phase “+ Rapid prototyping + Business intaligence “+ Pilot scale validation | ‘Lab sale validation ‘Eooneeing sae ‘Regulatory (GRAS, ND) Timeline Asset Asset incubation maturation commercialization Production stage Production owner ROI Gen
Slide 49: The project pipeline
Phase Timeline Production stage Production owner The project pipeline Incubator “+ Fapla prototype SGb schlevataton| binoids eXazymes Accelerator ‘ Businassintligonco ‘engneering scale + Supply enn 6-12 months prepare tech transfer Commercialization + Plot sala vation “Regulatory (GRAS, ND) 1 Spinou
Slide 50: Selection of valuable molecules
Selection of valuable molecules Traditional chemistry » Complex synthesis » Pollution + High energy requirements. » $$$ cost Natural extraction * Limited sources + Environmental impact ° Supply risks * $$$$ cost eXoZymes platform y¥ Single-step conversions y¥ Engineering control vy Sustainable v $co
Slide 51: Focusing on high-value natural products
exezymes Focusing on high-value natural products With pharmaceutical potential and extraordinary business cases. Natural health products Pharmaceutical analogs » Rapidly growing markets » High barriers to entry * Fast routes to market * Multiple billion-dollar markets $500 - $5,000 / kg $5,000 - $50
Slide 52: Total Addressable Markets (TAM)
Total Addressable Markets (TAM) : NCT OTC sooner ‘s $100B+ Accelerator eas Seac NCT Pharma be ie i We $100B+ Preclinical Mok atone eee! Obesity, pain TBD Accelerator Launching Santalene Fragances TBD Incubator Gov. grant Initial selection of products. We expect to launch 2-3 new every year, the comi
Slide 53: Asymmetric upside
Hf Oates Asymmetric upside Non-dilutive grants Strategic partnerships Proprietary assets * $17M+ secured + Product co-development * 12+ patent families » Partly funds core R&D. » Shared commercialization - Exclusive molecule rights without dilution journey Leveraging external funding, partnerships a
Slide 54: The extraordinary business opportunity
The extraordinary business opportunity Take positive advantage of the fact that many pharmaceutical companies are facing the biggest ever patent cliff - and revenue drop as a consequence - in history over the next 5 years. - they need new drug candidates... We can make unique highly valuable small m
Slide 55: SynBio vs EXOZ cell-free: De-risking the development
SynBio - vs - EXOZ cell-free De-risking the development High risk 25% 50% 75% 100% Current SynBio methods SX Cell-free biosolutions PN Low risk Project phases to completion
Slide 56: SynBio vs EXOZ cell-free: Competitive advantage
SynBio - vs - EXOZ cell-free Competitive advantage High risk 25% 50% 75% 100% Current SynBio methods Competitive advantage Cell-free biosolutions PN Low risk Project phases to completion
Slide 57: eXoZymes
exezymes
Slide 58: Company background
Company background Spun out from UCLA Seed & grant funding IPO and rebranding Commercial scale-up to eXoZymes
Slide 59: cco VP of Development cso CEO VP of Finance Chief of Staff VP of
cco VP of Development cso CEO VP of Finance Chief of Staff VP of Comms PhD PhD
Slide 60: The market leader of cell-free biomanufacturing
The market leader of cell-free biomanufacturing Biotechnology iy GENEDGE ma Name: Out with invizyne in ANTE ee CEXEEEE=| FSTOMPANY © Gtttine © Blopmberg =—- yahoo International VANITYEMR = Sess gvasdaqg = WEEKLY Busines FOX\
Slide 61: The future of biomanufacturing is cell-free
The future of biomanufacturing is cell-free.
Slide 62: Q&A
Slide 63: powered by
powered by
Slide 64: AI design
Al design + Large Language Models used to upgrade + _-- Thousands of variants tested weekly enzymes to become exozymes + Millions of data points generated per * Continuous loop of generating data to experiment - fed back to the LLM model increase LLM prediction quality
Slide 65: AI-Driven Enzyme Engineering Meets Cell-Free Biomanufacturing
Al-Driven Enzyme Engineering Meets Col Free Biomanufacturing Al Design Rapid Testing Large Language Models upgrade enzymes Thousands of variants tested weekly. to become exozymes. Continuous data Millions of data points fed back to the loops increase prediction quality. LLM model.
Slide 66: eXoZymes
exezymes
Slide 67: Resources via Conventional Methods
Resources via Conventional Methods ve. cz & wi lige aI = {ea @Rh Plant-Derived Petroleum-Based Cell-Based SynBio
Slide 68: The Limitations of Today's Methods
The Limitations of Today’s Methods CT aa al, OK las Natural Extraction: Chemical Synthesis: Cell-Based SynBio: Depleting Natural Resources Polluting & Toxic Fails at Commercial Scale
Slide 69: We all hoped for SynBio to change the world...
We all hoped for SynBio to change the world... Cell-Free Finally Unlocks the Potential | Traditional SynBio _ Cell-Free Technology x Limited by cellular constraints WY Nocellular limitations x Complex optimization required | AS Direct enzyme utilization € Low yield / Titer issues | W Unlimited scala
Slide 70: The Old Paradigm: How Cells Make Chemicals
The Old Paradigm: How Gells Make Chemicals Cells prioritize survival over production.
Slide 71: Why Traditional SynBio Falls Short
Why Traditional SynBio Falls Short GR ss Evolutionary Constraints Toxicity & Yield Economic Viability Cells are evolved to survive Toxic intermediates Downstream isolation and replicate, notto produce _—_ cause cells to die, limiting costs often exceed the excess chemicals. scale and titer. product’
Slide 72: eXoZymes
exezymes
Slide 73: How are exozymes different to synthetic biology?
How are exozymes different to synthetic biology?
Slide 74: Liberate the Pathway
Liberate the Pathway ¢-9-6-B-x, Ceo-8-#-E-- CE-G-¢-0-> Cell-Based Constraint Cell-Free Precision Why not just liberate the enzymatic pathway from the cell?
Slide 75: Cell-Based Enzymes vs. eXoZymes Biosolutions
Cell-Based Enzymes vs. eXoZymes Biosolutions Cell-Based SynBio eXoZymes Biosolutions e. Free Pathway -€ | rt %&-P—as Co Le Fa ‘Al-Optimized Enzymes + Production Pathways + Helper Modules x Restricted by cell survival needs Y Engineering-level control * Complex metabolic interference Y High titer & y
Slide 76: From Prototype to Commercial Feasibility
From Prototype to Commercial Feasibility In Weeks or Months, Not Years 0% Maturity 25% 50% 75% 100% Idea Proof-of- Lab Scale Pilot Scale Commercial Concept Scale Our technology shrinks timelines from years to months, dramatically accelerating time-to-market.
Slide 77: Proven Scale-Up: Kilo Scale Already Mastered
Proven Scale-Up: Kilo Scale Already Mastered ccs SA fatal Scale AS Production Scale :") Ton Scale
Slide 78: Pipeline of high-value business opportunities
Pipeline of high-value business opportunities Strategically building a portfolio of high-value business opportunities, creating ownership stakes in companies, JVs and partnership NCT (Over-the-Counter) Health Supplements, $100B TAM. Product market launch: Beginning 2027. Cannabinoid-like Pharma Nove