Nicox Sa · EURONEXT:ALCOX
Nicox Sa — Investor Presentation (May 2025)
31 slides from Nicox Sa's investor presentation, May 27, 2025
Slide 1: Nicox Corporate Presentation
Nicox Corporate Presentation An international ophthalmology company developing innovative solutions to help maintain vision and improve ocular health May 27, 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 strategic partnerships in Asia @ Significant market opportunity - 80 million glaucoma patients worldwide? oo00 I) nicox ©
Slide 4: 2025 Opportunities Building on 2024 Achievements
2025 Opportunities Building on 2024 Achievements Strategic Horizons a4 qa 48 NN NNN Appointment of Gavin Spencer as Chief Executive Officer Nicox Board entirely renewed with appointment of Damian Marron as Chair and 3 new Board members Restructuring of debt agreements with BlackRock Streamlining cos
Slide 5: Late-Stage Phase 3 Development
y g x ° & 2 > Vv Vv Vv ate-Stage Phase 3 Development A potentially differentiated profile targeting ~$6bn worldwide glaucoma market Positive results from the first Phase 3 trial’, Mont Blanc, demonstrating competitive Intraocular Pressure (IOP) Lowering properties Whistler? exploratory trial results
Slide 6: Upcoming Milestones
Upcoming Milestones NCX 470 “ Denali results — Q3 2025 “ Estimated potential worldwide sales over $300 million’ “ Phase 3 clinical trial initiation in Japan — expected H2 2025 ZERVIATE “ Recurrent revenue Corporate * Ongoing partnership discussions * Potential NCX 1728 license option exercise with G
Slide 7: ZERVIATE revenue sold to Soleus; 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 normal aqueous humor outflow vitreous anterior chamber ens —+ optic nerve head chamber posterior chamber healthy eye damage to the opti
Slide 9: Unmet Medical Needs for Glaucoma Treatment
Unmet Medical Needs for Glaucoma Treatment Y¥ 40% of patients do not achieve their target IOP on existing monotherapies' V Tolerability issues with some medications lead to discontinuations, Despite having well established first-line therapies, including the standard-of-care, latanoprost, patients d
Slide 10: Value Proposition of NCX 470
Value Proposition of NCX 470 < fe} S 2 ase July 10, 2023 Novel molecule with positive impact on lowering IOP, the Leading cause of glaucoma Positive pivotal Phase 3 topline results from the Mont Blanc trial.23 First non-combination product to demonstrate statistical non-inferiority to a prostaglandi
Slide 11: Assuming a partnership or obtaining appropriate financing following Denali
• • • *Assuming a partnership or obtaining appropriate financing following Denali clinical trial results
Slide 12: NCX 470 Lowers IOP Through a Validated Dual Mechanism Pathway
NCX 470 Lowers IOP Through a Validated’ Dual Mechanism Pathway Clinically Validated with the First NO-Donating PGA, VYZULTA® Two Pathways for Primary or conventional Aqueous Humor outflow normally Outflow accounts for ~60% to 80% of outflow anterior laaaes * | °) chamber ~ NCX 470 posterior chamber
Slide 13: Positive NCX 470 Mont Blanc Topline Results
Positive NCX 470 Mont Blanc Topline Results! 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 points
Slide 14: Mont Blanc trial design
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 vs Latanoprost IOP reduction
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: Mont Blanc safety data
• ≤ • • ≤ • • 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 AMERICAN GLAUCOMA SOCIETY + Poster: Diurnal IOP Control Responder Analysis with NCX 470 Versus Latanoprost in the Phase 3 MONT BLANC Trial oa CECE + Poster 1: Intraocular Pressure Reduction with NCX 470 versus Latanoprost Across the Spectrum o
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
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 Carolina, an
Slide 23: Ocumension Therapeutics partner profile
Portfolio of 25 Listed on the 444 Employees, Based in China Products with Hong Kong Stock Including 232 in Created in 2018 10 Commercialised Exchange Since Commercial Dedicated to $34 Million 2020 Ophthalmology Revenue in 2023 $600 Million (+55%) Market Cap • • •
Slide 24: Kowa partner profile
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 25: Future Commercialization of NCX 470
Future Commercialization of NCX 470 To Secure the Long-Term Future of the Company = The Company is considering a number of options to ensure the commercialization of NCX 470 and concretize the future strategy: * New license agreements * — Joint venture structures with companies having complementary
Slide 26: VYZULTA and ZERVIATE
VYZULTA ✔ ✔ ✔ ✔ ZERVIATE1 ✔ ✔ ✔ ZERVIATE2 ✔
Slide 27: Mechanism of action: PKG pathway
• • • • 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 &) ¢ Doug Hubatsch Emmet Purtill Gavin Spencer Sandrine Gestin Chief Executive Officer VP, Finance and HR EvP, Chief Scientific Officer VP Business Development th NovarTIS t Novartis C+) COVANCE » Alcon BOOTS HEALTHCARE, INTERNATIONAL < fe} S 2 Sonia Benhamida Observer Bl
Slide 29: Financial Highlights
Financial Highlights Cash Balance Expected to Support Current Operations to the end of 2025 Financial Position and Ownership of Nicox SA’ Cash, Cash Equivalents as at 31 December 2024 €10.5 million Long Term Debt as at 31 December 2024 €15.1 million Cash Runway? To the end of 20253 Outstanding Share
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 v NCX 470, a Derisked, Late-Stage Development Program * Positive
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 00 nicox visible science COMMUN ications@) nicox.com WWWw.nicox.com, @