Slide 1: 2Q2025 Financial Results & Corporate Update
Liquidia Corporation 2Q2025 Financial Results & Corporate Update August 12, 2025 ©2025 LIQUIDIA CORPORATION ALL RIGHTS RESERVED
Slide 2: Forward-looking statements
Forward-looking statements This presentation includes, and our response to questions may include, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). All statements contained in this presentation other than statements of historical facts,
Slide 3: ©2025 LIQUIDIA CORPORATION ALL RIGHTS RESERVED
©2025 LIQUIDIA CORPORATION ALL RIGHTS RESERVED 3
Slide 4: Rapid adoption over last 11 weeks!
Rapid adoption over last 11 weeks! As of August 8, 2025 PH centers and community practices >350 >900 >550 Both prostacyclin- physicians unique patients naïve and transitions from inhaled and oral prescribing patient started on prostacyclins YUTREPIA prescriptions YUTREPIA ©2025 LIQUIDIA CORPORATION
Slide 5: YUTREPIA continues to be tolerable, titratable and durable in PH-ILD
YUTREPIA continues to be tolerable, titratable and durable in PH-ILD Fully enrolled ASCENT in March 2025 Patients enrolled (n=54) Patients Completed Week 16 Visit, n (%) Patients Female: 51.9% Mean Age: 65.9 (8.9)years Completed1 43 (79.6) ILD type • IIPs 48.1% Missed Study visit 1 (1.9) • Autoimmun
Slide 6: Tolerability profile correlates to improved exercise capacity
Tolerability profile correlates to improved exercise capacity ASCENT Study Week 8 Week 16 Dose, range 79.5 to 238.5 mcg 79.5 to 318 mcg1 Dose, median 132.5 mcg 159 mcg ∆ 6MWD, median +21.5 meters +31.5 meters ∆ Mean Simplified -0.1 -0.2 cough score2 Change in measurement from baseline (∆), six-minut
Slide 7: Well-capitalized to achieve objectives in 2025
Well-capitalized to achieve objectives in 2025 Three Months Ended Ended 2Q25 with in $ thousands 6/30/25 6/30/24 $173M Product sales, net 6,517 - cash and cash equivalents Service revenue, net 2,320 3,659 Total revenue 8,837 3,659 • Added $~50M in June 2025 with second tranche from HCRx financing ag
Slide 8: Determined to become the prostacyclin of first choice
Determined to become the prostacyclin of first choice • PAH & PH-ILD Approved • Deep Lung Delivery, Device, Dose Prepared • Detailing physicians nationwide • Broad market access Accessible • Full suite of patient support services ©2025 LIQUIDIA CORPORATION ALL RIGHTS RESERVED 8
Slide 9: Q&A session
Q&A session Dr. Roger Jeffs Scott Moomaw Chief Executive Officer Chief Commercial Officer Michael Kaseta Rajeev Saggar COO & CFO Chief Medical Officer Russell Schundler General Counsel ©2025 LIQUIDIA CORPORATION ALL RIGHTS RESERVED 9