Zura Bio Limited · NASDAQ:ZURA

Zura Bio — Investor Presentation (March 2024)

22 slides from Zura Bio's investor presentation, Mar 11, 2024

1. Slide 1: Building the Next Immunology Leader

   ©2024 Zura Bio Ltd. Nasdaq Ticker: ZURA Building the Next Immunology Leader March 2024

2. Slide 2: Forward Looking Statements Disclaimer

   ©2024 Zura Bio Ltd. 2 Forward Looking Statements Disclaimer This communication includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “antic

3. Slide 3: In the beginning…..

   ©2024 Zura Bio Ltd. 3 In the beginning….. 15 employees globally Coverage by 5 Analysts* US Headquarter Experienced Team Began trading on Nasdaq under “ZURA” ticker tibulizumab in-licensed from Eli Lilly and Company and PIPE announced $80M PIPE closed Entered into sponsored research agreement with Be

4. Slide 4: Building an Immunology Company at Scale

   ©2024 Zura Bio Ltd. 4 Building an Immunology Company at Scale Establish core foundation for business and its operations Strongly aligned board, management, and investors Committed capital through 2026 Multiple high-quality clinical stage assetswith broadutility Baseline Execution $10 Billion+ Time V

5. Slide 5: Engineering for the promise of a better tomorrow

   ©2024 Zura Bio Ltd. 5 Engineering for the promise of a better tomorrow Zura Assets Rheumatology systemic sclerosis, Sjögren's syndrome, lupus, rheumatoid arthritis Respiratory chronic obstructive pulmonary disease, asthma Dermatology alopecia areata, hidradenitis suppurativa, atopic dermatitis Valid

6. Slide 6: Our novel bi-specific approach aspires to leave no patient behind

   ©2024 Zura Bio Ltd. OUR NOVEL BI-SPECIFIC APPROACH ASPIRES TO LEAVE NO PATIENT BEHIND 6 OUR STRATEGY TARGET ASSET CLINICAL PLAN Potential for paradigm shifting antibody treatment IL-17 & BAFF * Tibulizumab (ZB-106) 2024 Phase 2 Initiation in SSc Integrating two validated mechanisms in disease indica

7. Slide 7: Function Follows Form

   ©2024 Zura Bio Ltd. 7 Function Follows Form Nasdaq: ZURA Sources: Zura CSRs and Internal Data 93 patients dosed Multiple P2 external read-outs in 2024 Dual IL-7R & TSLP pathway SAD / MAD complete Potency advantages relative to other IL-7 & TSLP in development ZB - 168 244 patients dosed Dual pathway

8. Slide 8: Potential First-in-Class, Dual Antagonist Combining tabalumab and TALTZ

   ©2024 Zura Bio Ltd. Potential First-in-Class, Dual Antagonist Combining tabalumab and TALTZ® systemic sclerosis (SSc) tibulizumab ZB-106 Anti-BAFF x IL-17

9. Slide 9: Systemic sclerosis, a rare and life-threatening disease

   ©2024 Zura Bio Ltd. Systemic sclerosis, a rare and life-threatening disease 9 Sources: Medscape, BMJ best practice 1 Health Advanced, LLC; Lenabasum Commercial Market Assessment. 2 Tyndall et al, 2010 3 Bergamasco, A. et al., Clin Epidemiol. 2019 Apr 18;11:257-273 4 Zura Bio internal analysis and be

10. Slide 10: One is good, two could be better

    ©2024 Zura Bio Ltd. 10 One is good, two could be better Role of BAFF in SSc BAFF and auto-antibodies are key biomarkers in SSc 5,6 SSc patients have B cell abnormalities characterized by chronic hyper-reactivity of memory B cells 4 BAFF IL-10 IL-6 Inhibit Promote Effector B cell Regulatory B cell Sc

11. Slide 11: Tibulizumab: A Four-Headed Hammer with Dual Ligand Knockout Mechanism

    ©2024 Zura Bio Ltd. Tibulizumab: A Four-Headed Hammer with Dual Ligand Knockout Mechanism 11 Sources: 1 Fukasawa, T., et al. Annals of the Rheumatic Diseases, doi:10.1136/annrheumdis-2022-eular.2519. 2 Yang, Xiaoqin, et al. Arthritis Research Therapy, doi:10.1186/ar4430. 3 Ebata, Satoshi, et al. The

12. Slide 12: Synergy through science

    ©2024 Zura Bio Ltd. Synergy through science 12 Sources: Zura Internal Data, IND Briefing Isotype control Anti-BAFF Anti-IL 17 Anti-BAFF + Anti-IL 17 Anti-BAFF + Anti-IL-17 7.5 5.0 2.5 0.0 20 30 40 50 Day Cumulative disease score Anti-BAFF + Anti-IL 17 Histology score 70 60 * * * * * Anti-BAFF + Anti

13. Slide 13: We believe we're on to something special

    ©2024 Zura Bio Ltd. 13 We believe we’re on to something special Treatment Landscape Tibulizumab neutralizes IL-17A or BAFF regardless of whether the other binding sites are occupied Tibulizumab binds in the same way as TALTZ® and tabalumab with the same number of binding sites Activity is mediated t

14. Slide 14: Tibulizumab targets the combination of two clinically validated pathways for SSc

    ©2024 Zura Bio Ltd. Tibulizumab targets the combination of two clinically validated pathways for SSc 14 Brodalumab IL-17 receptor antagonist Achieved 1º endpoint of treatment difference of least square mean: (−21.2 [95% CI -3.9, -18.5]; P<0.001), in mRSS and 2º endpoint of improved FVC, both at 24 w

15. Slide 15: Phase 2 SSc Trial Design

    ©2024 Zura Bio Ltd. Phase 2 SSc Trial Design* 15 (*) Trial design is subject to change due to factors such as regulatory feedback PART A: RANDOMIZED TRIAL (mRSS) EFFICACY PERIOD (24 WEEKS) PLACEBO TIBULIZUMAB DOSE LEVEL 1 R PART B: OPEN LABEL EXTENSION (FVC) EFFICACY PERIOD (24 WEEKS) E TIBULIZUMAB

16. Slide 16: Additional Indications Under Consideration

    ©2024 Zura Bio Ltd. Additional Indications Under Consideration 16 tibulizumab | ZB-106 | SSc BAFF pathway IL-17 pathway Rheumatology systemic sclerosis 1 Sjögren’s syndrome 1 systemic lupus erythematosus 1 rheumatoid arthritis 1 Dermatology hidradenitis suppurativa 1 Sources: 1 ClinicalTrials.gov BA

17. Slide 17: Product Candidates ZB-168 & torudokimab

    ©2024 Zura Bio Ltd. Product Candidates ZB-168 & torudokimab

18. Slide 18: ZB-168, potent molecule with validated pathway

    ©2024 Zura Bio Ltd. ZB-168, potent molecule with validated pathway 18 UPB-101 (α-TSLPR) tezepelumab (TSLP) bempikibart (IL-7Rα) ZB-168 (IL-7Rα) α-TSLPR mAb TSLP mAb IL-7Rα mAb IL-7Rα mAb TSLP Induced Signals 16.1 ng / ml / 0.1nM (CCL17)(4) 67 ng / ml / 0.44nM (CCL17)(4) 24 nM (CCL2)(5) 7.5 ng / ml /

19. Slide 19: Torudokimab: a potent molecule with a validated pathway

    ©2024 Zura Bio Ltd. Torudokimab: a potent molecule with a validated pathway 19 Inhibition of IL-33 blocks both ST2 and RAGE is signaling 4 Well tolerated in ph1 and ph2 trials conducted by Eli Lilly 2 141 health volunteers in ph1 study Analyses confirmed key biomarker reduction (IL-13, periostin and

20. Slide 20: Key External Catalysts Through 1H-2025

    ©2024 Zura Bio Ltd. 20 Sources: ClinicalTrial.gov, Company Press Release Abbreviations: AA, alopecia areata; AD, atopic dermatitis; COPD, chronic obstructive pulmonary disease; HS, hidradenitis suppurativa, PsA, psoriatic arthritis; SLE, systemic lupus erythematosus; UC, ulcerative colitis Nasdaq: Z

21. Slide 21: 2024 Key Objectives

    Nasdaq Ticker: ZURA 2024 Key Objectives: On time clinical trial execution Build leadership team with specific expertise Translational excellence & validating external clinical readouts

22. Slide 22: Experienced management team with proven ability to successfully execute

    ©2024 Zura Bio Ltd. 22 Experienced management team with proven ability to successfully execute and build a leading market position Board of Directors Executive Team Amit Munshi Arnout Ploos van Amstel Jennifer Jarrett Neil Graham, M.D. Parvinder Thiara Sandeep Kulkarni, M.D. Someit Sidhu, M.D. Steve

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