Pulmatrix, Inc. · NASDAQ:PULM
Pulmatrix — Merger or Acquisition (October 2026)
35 slides from Pulmatrix's merger presentation, Oct 22, 2026
Slide 1: Building on the Foundation of Four: Advancing Mitochondrial-Targeted Geropeptide Medicine
=OS SENOLYTDXO) Improving Healthspan. Increasing Lifespan. Industry Keynote Building on the Foundation of Four: Advancing Mitochondrial-Targeted Geropeptide Medicine The 17th World Congress on Targeting Mitochondria 2026 October 22, 2026 | Berlin
Slide 2: Elamipretide Validated Cardiolipin as a Therapeutic Target
ELAMIPRETIDE Elamipretide Validated Cardiolipin as a Therapeutic Target Forzinity™ (clamipretide, SS-31) What this means for the field 4-amino acid mitochondria-targeted peptide - D-Arg- Dmt-Lys-Phe-NHz TARGET ee 1 Cardiolipin + First FDA-approved therapeutic that directly targets A peptide can reac
Slide 3: Aging Is a Two-Phase Program, So We Study Naturally Aged Mice
‘OUR APPROACH Aging Is a Two-Phase Program, So We Study Naturally Aged Mice Through This Entire Program Until Their Natural Deaths Aging is one program across organ systems, with inflammation, i 1a PHASE 1 1 PHASE 2 mitochondria and senescence cutting across all of them # physiologic aging | resilie
Slide 4: The MitoXcel Platform: Geropeptides Engineered to Target the Root Causes of Aging
THE PLATFORM. The MitoXcel™ Platform: Geropeptides Engineered to Target the Root Causes of Aging aa g The MitoXcel é Platform Universal Hallmark of Aging Eos SENOLYTIX's products are based on — Reduced MMP/Am is a universal MitoXcel 4, an information-driven biological hallmark of aging, driven by ge
Slide 5: PTC-2105 Localizes to Mitochondria and Lysosomes
MECHANISM OF ACTION PTC-2105 Localizes to Mitochondria and Lysosomes , , PTC.2105 (5um + TOMM20 (Mitochondria) + LAMP2 (Lysosome) Cw os -& Mtochondia = @ Nucleus € 0.10- Lysosome 8 8 00s 8 0.00. i 00s. ry Time (min) 2 i 2 YELLOW areas (white arrows) indicate PTC-2105 co-localizing to mitochondria re
Slide 6: PTC-2105 Engages Cardiolipin-Containing Membranes by NMR
MECHANISM OF ACTION PTC-2105 Engages Cardiolipin-Containing Membranes by NMR Single target leads to two distinct mechanisms of action + CARDIOLIPIN NO CARDIOLIPIN (POPC only) Pope restricts lp headgroups: Bp linewidth 6.2 13.9 H2 (1.9%) Pepide stil associates (1H broadens), ‘but headgroups stay mobi
Slide 7: PTC-2105 Engages Cardiolipin and Enhances Mitochondrial Function
MECHANISM OF ACTION #1 - ACTIVATOR PTC-2105 Engages Cardiolipin and Enhances Mitochondrial Function Mechanism #1: protective, in non-senescent aging cells Reid breed aae ESSE TOYOTA SES) p=0.0002 p< 0.0001 100.0 _ Inner mitochondrial membrane ——Proliterating w= senescent cardiolipin-rich (red lipids
Slide 8: PTC-2105 Interacts with ANT1 in Mouse Heart Mitochondria
MECHANISM OF ACTION - TARGET ENGAGEMENT PTC-2105 Interacts with ANTI in Mouse Heart Mitochondria Oren © Permeabiize ‘outer membrane. One Pre-2108 ‘itochoria Exposes IMM proteins ‘othe medium @ Avr carey — Dee PTC-2105 aw Bot. PC-2105 A Competition pulldown PTC-2105 (HM) 0 10 50 Biotin-2105 + + + (10
Slide 9: PTC-2105 Triggers Senescent Cells to Activate their Apoptotic Pathway
MECHANISM OF ACTION #2 - SENOLYTIC PTC-2105 Triggers Senescent Cells to Activate their Apoptotic Pathway Mechanism #2: Senescent cells are primed A. Senolytic selectivity (Annexin V/7AAD) B. Where the two cell states diverge F > atevery doseto 5 pM 3 lost at 50M Readout Pr ‘Therapeutle Window g a Mi
Slide 10: MitoXcel Technology - A Dual-Action Mitochondrial-Targeted Gerotherapeutic
MECHANISM OF ACTION MitoXcel Technology - A Dual-Action Mitochondrial-Targeted Gerotherapeutic “Activating” + “Senolytic” All-in-One Peptide Single Target: Reduced MMP due to ‘Proton Leak’ a in the Mitochondria of Aging Cells i Mechanism 1 (Activator): Lead Candidate: _ Mechanism 2 (Senolytic): Enha
Slide 11: PTC-2105 Suppresses Systemic SASP in Pre-Clinical Aging Models
PRECLINICAL DATA PTC-2105 Suppresses Systemic SASP in Pre-Clinical Aging Models Aged female C57BL/6) mice (~75 wk at start) received PTC-2105 SC once weekly for 21 weeks; terminal serum. At 2.5 mg/kg, IP-10 was 62% and IL-6 78% lower than Saline (p = 0.035 and 0.007). IP-10 (CXCL10) IL-6 TNF-a. 60 p
Slide 12: PTC-2105 Affects an Aging-Specific Target: Reduced Aym
Tissue remodeling / MECHANISM OF ACTION PTC-2105 Affects an Aging-Specific Target: Reduced Aym PTC-2105 selectivity is defined by a single, aging-specific molecular signal: the reduced MMP, Am, that occurs universally in the mitochondria of all living species. Mechanism 2 driven phenotypes, e.g. bod
Slide 13: PTC-2107 Restores a Healthier Body Composition
Tissue remo BODY COMPOSITION MitoXcel Geropeptide PTC-2107 Restores a Healthier Body Composition Improvements in body composition in naturally aged animals occur without directly targeting muscle or fat tissue, but only by targeting the underlying mitochondrial dysfunction of aging via Mechanisms 1
Slide 14: PTC-2105 Increases Composite Function (FCI) in Aged Mice
Physical function Neurocognitive PTC-2105 Increases Composite Function (FCI) in Aged Mice p=0.018 SEL-046 study design (overview) MODEL Naturally aged female C57BL/6J mice (-80 weeks old at dosing start) ECI-ull change from baseline (AUC, score x week, WK 0-19) TREATMENT ARMS « SC INJECTION 1X/WEEK
Slide 15: PTC-2105 Monotherapy Surpasses GLP-1 Efficacy Over Time
Tissue remodeling / body composition PRECLINICAL DATA & Ba PTC-2105 Monotherapy Surpasses GLP-1 Efficacy Over Time Naturally aged DIO mice on a high-fat diet( HFD) began treatment at 82 weeks of age with PTC-2105, semaglutide (SMG), or combination regimens. SMG treatment stopped at Week 35 and PTC-2
Slide 16: PTC-2105 Increases Mouse Overall and Cancer-Specific Survival
PRECLINICAL DATA PTC-2105 Increases Mouse Overall and Cancer-Specific Survival More than just extending survival compared to controls, PTC-2105 pushes survival past the known limits of lifespan of C57BI/6 mice Increased Lifespan At Week 166, after 86 weeks of PTC-2105 dosing begun at 80 weeks of age
Slide 17: Improving Healthspan and Increasing Lifespan: Goals for a True Gerotherapeutic
Improving Healthspan and Increasing Lifespan: Goals for a True Gerotherapeutic 100-week-old Naive Mice 166-week-old Mouse Dosed with PTC-2105 for 86 weeks ah Ie 15-week-old Naive Mice . o 12026, 3AM Pata 166-week-old Mouse 15-Week-Old Mice 100-Week-Old Mice Dosed with PTC-2105 for 86 weeks Locomotor
Slide 18: Meet Speedy: PTC-2105 Team Speedy
PTC-2105 | TEAM SPEEDY Improving Healthspan and Increasing Lifespan Goals for a True Gerotherapeutic Meet “Speedy” A single mouse. A remarkable result. Speedy is a PTC-2105-treated mouse who has outlived every untreated control in his study by more than 20%, while his physical performance exceeds th
Slide 19: PTC-2105 Prevents Terminal Decline of Aging
PRECLINICAL DATA Tissue remodeling / ‘body composition PTC-2105 Prevents “Terminal Decline of Aging”, Attenuating Late-Life Pathologic Weight Loss and Sarcopenia + During physiologic aging, PTC-2105 prevented age-related weight gain, driven primarily by fat accumulation, observed in salinetreated co
Slide 20: Loss of Lean Mass Following Semaglutide Cycling May Accelerate Terminal Decline
SMG dosing stopped Tissue remodeling / body composition PRECLINICAL DATA Loss of Lean Mass Following Semaglutide Cycling May Accelerate Terminal Decline of Aging - Week 80 “Snapshot” Both PTC-2105 monotherapy- and PTC-2105+SMG combination-treated mice remain alive at Study Week 78 (160 weeks old), d
Slide 21: Does GLP-1 Cycling Leave a Lasting Lean Mass and Lifespan Cost?
ONGOING STUDY Does GLP-1 Cycling Leave a Lasting Lean Mass and Lifespan Cost? SEL-082 study initiated July-2026, dosing initiated September-2026, should report end of 2027 to coincide with FDA approval of Lilly's retatrutide targeting GLP-1, GIP, and glucagon receptors MODEL C57BL/6] males, ~78 wk,
Slide 22: Competitive Landscape: Superior Body Composition Profile
at 85 Weeks Tissue remodeing/ Competitive Landscape: Superior Body Composition Profile | g"" . A =ZOS SENOLYTIN” ccm (nausea, bloating) constipation) Mounjaro Retatrutide PTC-2105 (Novo Nordisk) (Lilly) (Lilly) Control Monotherapy (25 PTC-2105 (50 mg/kg, SMG (3X weekly (Saline, 3X/week) _mg/kg, 3X/w
Slide 23: Phase 1b/2a Study in an Elderly Sarcopenic Population
CLINICAL DEVELOPMENT Phase 1b/2a Study in an Elderly Sarcopenic Population Outlining the key aspects of our upcoming clinical trial targeting age-related muscle loss and functional decline. —_¢gQ-—— Study Objectives Study Design Interim Analysis 3 Pharmacokinetics (Pk) 12weekrandomized, double-blind
Slide 24: MitoXcel Is Developed Through Three Licensed Companies
(GEROTHERAPEUTIX MitoXcel Is Developed Through Three Licensed Companies Each subsidiary holds an exclusive license from GEROTHERAPEUTIX to deploy MitoXcel™ in its designated category: IP clarity, commercial focus and scalability Objective Improve healthspan by acting on the biology of aging, in age-
Slide 25: PTC-2110 Extended Median Survival 44% on Just Five Once-Weekly Doses
ONCOLOGY - PERSEUS SENOLYTIX PTC-2110 Extended Median Survival 44%, from 18 to 26 Days, on Just Five Once-Weekly Doses TOM-1 Ph+ B-ALL cells (0.75 x 105) IVinto NSG mice on day -3 - oncopeptides 50 mg/kg SC once weekly from day 0 - tissue harvest day 31 -n=5 perarm \ Survival New MitoXcel in TOM-1 A
Slide 26: PTC-2110 Cut TOM-1 Cells in Lung 92% vs Saline
ONCOLOGY - PERSEUS SENOLYTIX PTC-2110 Cut TOM-1 Cells in Lung 92% vs Saline, Close to Ponatinib’s 95% Terminal flow cytometry of lung and spleen - moribund mice at necropsy, survivors at day 31 (ponatinib 5/5, PTC-2110 2/5) - 9CD45 "CD19 *per 10,000 live cells #hCD45*CD19"/ 10,000 live cells TOM-1 C
Slide 27: MitoXcel Geropeptide Technology Is a Class, Not a Single Molecule
(NM THE DISCOVERY MitoXcel™ Geropeptide Technology Is a Class, Not a Single Molecule Since both are MitoXcel™ geropeptides, the results with PTC-2105 in animal studies may inform expected results using PTC-2111 in human subjects, allowing us to bridge the evidence gap. PTC-2105 - Eos SENOLYTIX, Inc.
Slide 28: Topical PTC-2105 Clears Senescence and Lowers Inflammation in Pre-Clinical Models
=0S SENOLYTIX) PRECLINICAL DATA Topical PTC-2105, a MitoXcel geropeptide related to PTC-2111, clears senescence and lowers inflammation in pre-clinical animal models. To test MitoXcel topically, we built a unique “Sun Damage” mouse model. Twelve-week-old p16!"«#-Fluc reporter mice receive UVB exposu
Slide 29: PTC-2111 Stimulates Collagen and Elastin In Vitro and Improves Skin Measures
‘YUUTH? - PTC-2111 - IN VITRO & CLINICALREAD-OUT NM PTC-2111 Stimulates Collagen and Elastin In Vitro and Improves Skin Measures at 12 Weeks Topical YUUTH™ Full Body Treatment, powered by MitoXcel™ geropeptide PTC-2111 - independent evaluation by Bionos LabAnalysis IN VITRO - HUMAN FIBROBLASTS CLINI
Slide 30: YUUTH Early Results — 61-year-old healthy female
YUUTH -— EARLY SELF-REPORTED USAGE EXPERIENCE | AMI YUUTH Early Results — 61-year-old healthy female — “Necklace Lined Unretouched photos taken by the subject Aging skin is fundamentally an ECM-maintenance failure — and aging, senescent fibroblasts are the primary drivers of that failure creating a
Slide 31: Topical PTC-2111 Was Well Tolerated, With No Adverse Change in Blood Safety Parameters
‘YUUTH% - PTC-o111 - SAFETY iN Topical PTC-2111 Was Well Tolerated, With No Adverse Change in Blood Safety Parameters Independent clinical evaluation of YUUTH™ Full Body Treatment under dermatological supervision - Bionos LabAnalysis LOCAL TOLERANCE - n = 24 - DAY 0-84 BLOOD PARAMETERS - n = 20- DAY
Slide 32: YUUTH Inner Circle
Mi YUUTH liye etenr YUUTH Inner Circle The world's first ultra-luxury longevity membership. Exclusively for those who shape the future. as SS ( | HAVE A Cope > Learn More:
Slide 33: MitoXcelAI Discovery Engine: Candidates Beyond PTC-2105
PLATFORM MitoXcelAI Discovery Engine: Candidates Beyond PTC-2105 How MitoXcelAl™ finds candidates os vies Aldesign design rules + new sequences == Es = “ll 100+ Database peptides Synthesis sequence linked synthesized rule-conforming and not to outcome and annotated Aged-mouse testing In vitro screen
Slide 34: MitoXcel Geropeptides Show Effects Across Multiple Organ Systems
‘SUMMARY OF EVIDENCE MitoXcel Geropeptides Show Effects Across Multiple Organ Systems ‘THERAPEUTIC PROGRAMS - PRECLINICAL Body composition Metabolism Immune system. Kidney Increased lean mass and reduced Greater weight loss than Reduced p16* senescent CD8* T Reduced urine albumin-creatinine fat mass
Slide 35: Conclusions
SUMMARY Conclusions 1 Foundation Elamipretide established cardiolipin as a druggable mitochondrial target (FDA accelerated approval, US). PI Mechanism MitoXcel™ geropeptides combine mitochondrial activation with senolysis in cells with reduced Am. 3 Evidence Predinical effects across several organ s