Slide 1: Corporate Deck August 2025
9 Recursion. Corporate Deck August 2025
Slide 2: Important Information
Important Information This presentation of Recursion Pharmaceuticals, Inc. (“Recursion,” “we,” “us,” or “our”) and any accompanying discussion contain statements that are not historical facts may be considered forward-looking statements under federal securities laws and may be identified by words su
Slide 3: Recursion exists to find a better way to discover and develop new medicines
Recursion exists to find a better way to discover and develop new medicines Biology is extraordinarily complex; we understand only a small fraction of how it functions 3
Slide 4: Eroom's Law vs Moore's Law: drug discovery slower and more expensive
Recursion exists to find a better way to discover and develop new medicines Biology is extraordinarily Eroom’s Law Moore’s Law complex; we understand Drug discovery is becoming slower and Computing power is becoming faster only a small fraction of how more expensive over time and less expensive over
Slide 5: Rapid pace of technology offers a fundamentally new approach
Recursion exists to find a better way to discover and develop new medicines Biology is extraordinarily complex; we understand only a small fraction of how it functions Drug discovery is becoming slower and more expensive over time Rapid pace of technology offers a fundamentally new approach to model
Slide 6: Recursion's unbiased platform approach delivers a strong internal and partnered portfolio
Recursion’s unbiased platform approach delivers a strong internal and partnered portfolio • Powered by proprietary and fit-for-purpose scaled data Compute • End-to-end capabilities spanning novel target discovery, precision chemistry and optimized clinical trials • Built upon iterative cycles of Dat
Slide 7: Recursion OS 2.0: Efficiently delivering novel insights, precision design, and optimized clinical trials
Recursion OS 2.0: Efficiently delivering novel insights, precision design, and optimized clinical trials AI-powered Biological Insights AI-enabled Precision Design AI-informed Clinical Development Transcriptomics 3D Protein & Causal AI Patient stratification Assay & Models MOA Atomistic Models & ind
Slide 8: Boltz-2: Open-source model commoditizing binding affinity prediction
Boltz-2: Open-source model with MIT commoditizing binding affinity prediction approaching FEP accuracy at 1000x speed Designed for drug discovery and virtual screening Over 171K downloads and 41.5K unique users in less than two months Allows users to specify an Template steering — Contact/pocket con
Slide 9: ClinTech: Industrialize clinical development with an end-to-end platform
ClinTech: Industrialize clinical development by building an end-to- end platform to increase probability of success Causal AI applied to Intelligent AI-powered human genomics clinical trial design recruitment & execution • Patient-platform connectivity • More robust trial planning via • Potential fo
Slide 10: Delivering Pipeline Advancements and Partnership Value
Delivering Pipeline Advancements and Partnership Value Target Disease Indication Late Discovery Preclinical Phase 1/2 Pivotal/Phase 3 Oncology REC-617 CDK7 Advanced Solid Tumors Biomarker-Enriched Solid REC-1245 RBM39 Tumors & Lymphoma REC-3565 MALT1 B-Cell Malignancies REC-7735 PI3Kα H1047R Breast
Slide 11: Advancing programs with strong therapeutic rationale, powered by Recursion OS
Advancing programs with strong therapeutic rationale, powered by Recursion OS REC-617 | CDK7 REC-1245 | RBM39 REC-4881 | MEK1/2 Solid tumors1 Solid tumors2, Lymphoma Familial adenomatous polyposis (FAP) Optimized PK/PD for Phenotypic insight reveals novel MOA Phenotypic insight on MEK1/2 wider thera
Slide 12: Advanced partnership discovery by leveraging Recursion 2.0
Advanced partnership discovery by leveraging Recursion 2.0 4 5 Program milestone Phenomaps in Neuroscience, GI Oncology • 1 trillion iPSC-derived cells payments achieved • 100 billion GI Oncology relevant cells in last 18 months • 5,000 transcriptomes Several programs advancing Continued program adv
Slide 13: Recursion brings medicines to clinic faster and at lower cost
Recursion brings medicines to clinic faster and at lower cost Quickly validate Highly productive hypotheses compound design Spend less Go faster 14 3,000 30 60 12 2,500 25 50 Time to candidate ID (months) Time to hit package (months) # synthesized to candidate 10 2,000 20 40 Cost to IND ($M) 8 1,500
Slide 14: Pipeline
Pipeline
Slide 15: Internal Pipeline
PIPELINE Internal Pipeline =
Slide 16: Pipeline: Advancing 5+ high-potential programs across oncology and rare disease
Pipeline: Advancing 5+ high-potential programs across oncology and rare disease Target Disease Indication Late Discovery Preclinical Phase 1/2 Pivotal/Phase 3 Oncology REC-617 CDK7 Advanced Solid Tumors Biomarker-Enriched Solid REC-1245 RBM39 Tumors & Lymphoma REC-3565 MALT1 B-Cell Malignancies REC-
Slide 17: Targeted, differentiated portfolio strategy
Targeted, differentiated portfolio strategy Powered by the Recursion OS 2.0 platform Double down on areas of expertise and efficiency Oncology・I&I・Neuroscience・Rare Explore the uncharted by going after novel targets to develop differentiated medicines Differentiated, product first First-in-class mol
Slide 18: REC-617 (CDK7 inhibitor): AI-enabled causal inference for ovarian cancer indication selection
REC-617 (CDK7 inhibitor): AI-enabled causal inference strengthens preclinical data for indication selection of ovarian cancer for ELUCIDATE Causal Inference using Cell Panels In vivo Models Impact Omics and Clinical data • Supports Cell Line: OVCAR3 CDX Model: OVCAR1 Patient Data: Ovarian Cancer 2 p
Slide 19: REC-1245 (RBM39 degrader): Platform derived insight into genomic instability vulnerabilities
REC-1245 (RBM39 degrader): Platform derived insight to unlocking comprehensive genomic instability vulnerabilities Recursion OS Insight Mechanistic Validation Preclinical Data RBM39 Degradation Ovarian CDX Model: OVK18 (MSI-H) CDK13 CDK12 RBM39 %RBM39 Degradation Tumor Volume (mm3) RBM39 (Normalized
Slide 20: REC-3565 (MALT1 inhibitor): Summary & next steps
REC-3565 (MALT1 inhibitor): Summary & next steps Monotherapy dose escalation ongoing with preliminary update 2H26 Recursion OS Insight Preclinical Validation Clinical Development CDX Model: OCI-Ly101 Illustrative example 344 novel compounds to Candidate ID Designed to deliver balanced Single-agent a
Slide 21: REC-4881 (MEK1/2 inhibitor): Summary & next steps
REC-4881 (MEK1/2 inhibitor): Summary & next steps Phase 2 dose expansion ongoing with update 2H25 Recursion OS Insight Preclinical Validation Clinical Development In Vivo Model: APCmin/+ 1 REC-4881 suppresses disease- inducing effects of APC mutations Identified through phenotypic Significant reduct
Slide 22: REC-7735: PI3Kα H1047R – Summary & next steps
REC-7735: PI3K⍺ H1047R – Summary & next steps Biological Insight High selectivity for H1047R mutant PI3K⍺ over WT to reduce dose-limiting hyperglycemia REC-7735 Target Profile • Potential best-in-class PI3K⍺ H1047R inhibitor Design AI-driven generative design via hotspot molecular • >100-fold select
Slide 23: REC-102: ENPP1 – Summary & next steps
REC-102: ENPP1 – Summary & next steps Biological Insight Reduction of PPi production via controlled ENPP1 inhibition to restore bone hypomineralization REC-102 Target Profile • Potential first-in-class ENPP1 inhibitor Design • High oral bioavailability supports QD or AI-driven generative design via
Slide 24: Partnered Pipeline
PIPELINE Partnered Pipeline
Slide 25: Advanced partnership discovery by leveraging Recursion 2.0
Advanced partnership discovery by leveraging Recursion 2.0 4 5 Program milestone Phenomaps in Neuroscience, GI Oncology • 1 trillion iPSC-derived cells payments achieved • 100 billion GI Oncology relevant cells in last 18 months • 5,000 transcriptomes Several programs advancing Continued program adv
Slide 26: Sanofi collaboration advancing novel targets in I&I and oncology
Sanofi collaboration advancing novel targets in I&I and oncology – 4 milestones achieved, multiple additional expected 4 Program Biology Design Optimize milestones achieved Leveraging suite of tools tailored for each program to collaboratively identify and drive up to Development Candidate1 to date
Slide 27: Roche and Genentech collaboration within neuroscience and GI oncology
Roche and Genentech collaboration within neuroscience and GI oncology indication – unbiased novel biological insights to programs Biology Design Optimize ~5 Phenomaps Lab in the Loop Derived from over 1 trillion iPSC cells and 100 billion GI Onc relevant cells What’s next • Additional ~5,000 transcr
Slide 28: Financial Update
Financial Update
Slide 29: Well positioned to deliver on upcoming milestones
Well positioned to deliver on upcoming milestones 2Q25 Highlights 2025 & 2026 Cash, cash equivalents and Operational cash inflows Guidance restricted cash • $7 million Sanofi • Potential for over $100 million • $533.8 million in cash 1 as of milestone payment in partnership inflows by end June 30, 2
Slide 30: Looking Forward
Looking Forward : a is S aie 7 eo Se ey
Slide 31: Internal and external pipeline momentum
Internal and external pipeline momentum FY 2025 and 2026 upcoming pipeline catalysts H1 H2 H1 H2 REC-617 (CDK7i) in REC-4881 (MEK1/2i) in FAP REC-1245 (RBM39) REC-3565 (MALT1) advanced solid tumors Additional safety and efficacy Early safety and PK from Early safety and PK from Initiation of combina
Slide 32: Recursion.
9 Recursion.