Mineralys Therapeutics, Inc. · NASDAQ:MLYS

Mineralys Therapeutics — Q2 2026 Earnings Presentation

22 slides from Mineralys Therapeutics's earnings presentation, Aug 11, 2026

  1. Slide 1: Targeting Aldosterone in the Treatment of Cardiorenal Diseases

    Targeting Aldosterone in the Treatment of Cardiorenal Diseases August 2026 © 2026 Mineralys Therapeutics, Inc. All Rights Reserved. © 2026 Mineralys Therapeutics, Inc.

  2. Slide 2: Forward-Looking Statements and Market Data

    Forward-Looking Statements and Market Data Mineralys Therapeutics cautions you that statements contained in this presentation regarding matters that are not historical facts are forward-looking statements. The forward-looking statements are based on Mineralys’ current beliefs and expectations and in

  3. Slide 3: Targeting Aldosterone in the Treatment of Hypertension and Cardiorenal Diseases

    • Dysregulated aldosterone is the driver in 30% of uncontrolled and resistant hypertension (u/rHTN) Targeting • Lorundrostat potential best-in-class ASI Aldosterone • Meaningful 24-hour BP reduction and safety of once- in the Treatment of daily dosing of lorundrostat in u/rHTN Hypertension and • Dem

  4. Slide 4: Dysregulated Aldosterone In Hypertension and Related Comorbidities

    Dysregulated Aldosterone In Hypertension and Related Comorbidities © 2026 Mineralys Therapeutics, Inc. All Rights Reserved. © 2026 Mineralys Therapeutics, Inc.

  5. Slide 5: Abnormally Elevated Aldosterone Impacts Multiple Biological Pathways

    Abnormally Elevated Aldosterone Impacts Multiple Biological Pathways and is a Key Driver in Cardiorenal Diseases Genomic Effects Non-Genomic Effects (MINERALOCORTICOID RECEPTOR) Aldosterone (GPR30 RECEPTOR) Na+ and water retention Drives endothelial and renal tubular drives blood volume and oxidativ

  6. Slide 6: Lorundrostat Potential Benefit Across Spectrum

    Lorundrostat Potential OBESE UNCONTROLLED HYPERTENSION HTN in the U.S. OSA in the U.S. Benefit Across Nighttime BP 30% prevalence of dysregulated aldo in Spectrum TREATMENT- link to CV risk OBSTRUCTIVE SLEEP APNEA RESISTANT u/rHTN HYPERTENSION 70-80% prevalence of CRMS1-5 of rHTN in OSA Visceral adi

  7. Slide 7: Uncontrolled and Resistant Hypertension Is the Leading Global Modifiable Risk Factor

    Uncontrolled and Resistant Hypertension Is the Leading Global Modifiable Risk Factor for Cardiovascular Death Top 8 Global Modifiable Risk Factors Risk Reduction per 10mmHg for CV Deaths in 20211 Reduction in Systolic BP 2 0% 10.8 Kidney dysfunction All Cause CHD Major CV Stroke HF Mortality Events

  8. Slide 8: The Unmet Need in u/rHTN is Largely Driven by Dysregulated Aldosterone

    20-40% of hypertension patients have uncontrolled or resistant HTN • Half of the treated HTN patients in the U.S. fail to achieve goal1 • Prevalence of apparent rHTN demonstrated to be ~20%2 • In optimized background treatment trials, 30-40% of participants fail to The Unmet Need achieve goal3 in u/

  9. Slide 9: Lorundrostat Clinical Efficacy and Safety

    Lorundrostat Clinical Efficacy and Safety © 2026 Mineralys Therapeutics, Inc. All Rights Reserved. © 2026 Mineralys Therapeutics, Inc.

  10. Slide 10: Lorundrostat: Potential Best-in-Class Once-Daily Aldosterone Synthase Inhibitor

    Lorundrostat: Potential Best-in-Class Once-Daily Aldosterone Synthase Inhibitor ASI Half-life Profiles ASI Selectivity Profiles 1, 2 3, 4 25-31 Number of hours 2 3 LORUNDROSTAT LORUNDROSTAT BAXDROSTAT VICADROSTAT DIFFERENCE Allows 10-12 aldosterone SELECTIVITY 374X 100X 250X inhibition, without 4.5-

  11. Slide 11: Clinically Meaningful Efficacy across Participant Subgroups

    Clinically Meaningful Efficacy across Participant Subgroups Reductions in SBP of this magnitude have been linked to significant reduction in overall cardiovascular risk1 u/r/HTN participants on prescribed regimen Change in 24hr ABPM in mmHg Change in AOBP in mmHg Change in AOBP in mmHg of 2-5 AHTs (

  12. Slide 12: Favorable Safety and Tolerability Profile across Patient and Prescriber Types

    Favorable Safety and Tolerability Profile across Patient and Prescriber Types Very low rates of serious adverse events and treatment discontinuations (“Real World”) (“Specialist”) (“Compromised Kidney Function”) (“Obstructive Sleep Apnea”) Lorundrostat: N=538 Lorundrostat: N=94 Lorundrostat: N=58 Lo

  13. Slide 13: Lorundrostat Potassium Profile Similar to ACE Inhibitor and ARBs

    Lorundrostat Potassium Profile Similar to ACE Inhibitor and ARBs – Predictable and Modest Hyperkalemia (K+ > 6.0) at • Lorundrostat potassium levels are very mild and Study Visit and Repeat Test (%) consistent with observed levels of ACE inhibitors and ARBs today* ARBs 2.8 • Potassium levels were mi

  14. Slide 14: Lorundrostat Development Program with Positive Pivotal Data and Market Expansion Trials

    Lorundrostat Development Program with Positive Pivotal Data and Market Expansion Proof-of-Concept Trials Trial Safety Proof of Concept Pivotal Status u/rHTN Existing background AHT Completed u/rHTN Optimized background AHT Completed Hypertension u/rHTN Existing background AHT Completed Open-Label Ex

  15. Slide 15: Significant Commercial Opportunity in CRMS

    Significant Commercial Opportunity in CRMS © 2026 Mineralys Therapeutics, Inc. All Rights Reserved. © 2026 Mineralys Therapeutics, Inc.

  16. Slide 16: Large Total Addressable Market: 20M People in U.S. with u/rHTN

    Large Total Addressable Market: 20M People in U.S. with Uncontrolled or Resistant Hypertension and Related Comorbidities ~120M PATIENT POPULATION HTN PATIENTS IN THE U.S. BREAKDOWN IN THE U.S uHTN (1 AHT) Addressable ~10M Market HTN under UNTREATED TREATED control uHTN (2 AHT) 20M u/rHTN 60M 60M ~30

  17. Slide 17: 8.8 Million u/rHTN Patients per Year Try New Treatments

    8.8 Million u/rHTN Patients per Year Try New Treatments - an Opportunity for Lorundrostat More than half of new-to-line patients each year would be eligible for lorundrostat 3L+ treatment Eligible New Patient New-to-Line vs Existing New-to-Line Patient Line Pool per year Patient Distribution of Ther

  18. Slide 18: Majority of PCPs, Cardiologists and Nephrologists Likely to Prescribe Lorundrostat

    Majority of PCPs, Cardiologists and Nephrologists Are Likely to Prescribe Lorundrostat Based on Efficacy and Safety Profile Likelihood to prescribe Likelihood to prescribe lorundrostat Prefer lorundrostat lorundrostat for u/rHTN for u/rHTN with CKD vs baxdrostat, based on Launch-HTN and BaxHTN effic

  19. Slide 19: Launch Plan Builds Upon u/rHTN Opportunity

    Launch Plan Builds Upon u/rHTN Opportunity and Addresses Additional Areas of Unmet Clinical Need Inclusion of ASI in AHA hypertension treatment guidelines Potential best-in-class SBP reductions & safety in u/rHTN informs general prescribing (Launch-HTN) Confirmed u/rHTN Advance-HTN: Only ASI studied

  20. Slide 20: Financial Summary

    Financial Summary Research Analyst Coverage BofA Securities Jason Gerberry Evercore ISI Umer Raffat/Mike DiFiore Goldman Sachs Richard Law Nasdaq MLYS Stifel Annabel Samimy Guggenheim Securities Seamus Fernandez June 30, 2026 Cash Balance* $661M Wells Fargo Securities Mohit Bansal Shares of common s

  21. Slide 21: Mineralys Leadership Team

    Mineralys Leadership Team Agile and experienced in developing novel, leading therapies Jon Congleton Adam Levy Eric Warren Chief Executive Officer Chief Financial Officer Chief Commercial Officer 30+ years of experience: Marion, HMR, 15+ years of banking experience: Merrill 30+ years of experience:

  22. Slide 22: © 2026 Mineralys Therapeutics, Inc. All Rights Reserved.

    © 2026 Mineralys Therapeutics, Inc. All Rights Reserved. © 2026 Mineralys Therapeutics, Inc.

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